Shana

Representatives from 30 countries to attend Iran’s Upstream Oil Investment Transformation Event

SHANA (Tehran) – Representatives from 30 countries across Europe, South America, Asia and Africa have expressed readiness to attend Iran’s Upstream Oil and Gas Investment Transformation event.

Convergence of oil and politics: From Muscat to Tehran

SHANA (Tehran) – As Iran’s foreign policy team negotiates to lift sanctions, the Ministry of Oil, tasked with energy diplomacy, has been actively preparing to attract both domestic and international investors.

Economic growth through investment in oil, gas upstream sector

SHANA (Tehran) – A member of the Iranian Parliament’s Energy Committee highlighted the "Transformation in Investment and Development" event in Iran’s oil and gas upstream sector as a significant step in the "Year of Investment for Production." He stated that introducing investment opportunities will attract capital to various sectors of the oil, gas and upstream industries.

5.5% rise in Nowruz travel with historic fuel consumption record

SHANA (Tehran) – The head of Iran’s Traffic Police announced that during the Nowruz 2024 operations, a historic fuel consumption record was broken, reaching 164 million liters on March 19, while travel increased by 5.5% compared to last year.

Do’s and don’ts of attracting investment in oil industry

SHANA (Tehran) – Former CEO of Petroleum Engineering and Development Company (PEDEC) believes to attract investors in the oil industry, we must diversify long-term contracts, increase their operational flexibility, and remove obstacles.

Iran's oil production up by 12,000 bpd in March, OPEC reports

SHANA (Tehran) - According to OPEC's latest monthly report, Iran's crude oil production increased by 12,000 barrels per day (bpd) in March, reaching 3.335 million bpd. 

MP:

Investment in oil industry's upstream sector boosts production growth

SHANA (Tehran) - A member of the Iranian Parliament's Industries and Mines Committee said the "Transformation in Investment" event would effectively attract capital for production in the oil and gas upstream sector, adding that the event provides an opportunity to boost production growth.  

Paknejad:

Iraqi fields to supply feed for Iran’s NGL units

SHANA (Tehran) – Iran’s oil minister announced the signing of a memorandum of understanding to transfer feed for domestic natural gas liquids (NGL) units from fields near the Iran-Iraq border into the country.

Constructive reforms, investment opportunities pave way for oil industry growth

SHANA (Tehran) – The former head of international affairs at the National Iranian Oil Company (NIOC) stated that introducing investment opportunities alongside constructive reforms can enhance success in attracting capital, adding that this approach fosters sustainable growth in the oil industry.

Iran, Iraq ink MoUs to enhance joint cooperation

SHANA (Tehran) – Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani Al-Sawad, received Iranian Oil Minister Mohsen Paknejad on Monday. During the meeting, prospects for joint cooperation between the two countries were discussed.

Oil: A low-risk, high-return sector for investors

SHANA (Tehran) – The CEO of the National Iranian South Oil Company (NISOC) described investment in the oil industry as a prime opportunity for economic stakeholders, saying, "Lower risk and higher returns have made oil sector investments a lucrative prospect."

NIOPDC enjoys 16,000 road tankers in service; fleet stretches 176 kilometers

SHANA (Tehran) – The National Iranian Oil Products Distribution Company (NIOPDC) operates approximately 16,000 road tankers and 2,635 rail tankers. The company's road fleet, if lined up, would stretch about 176 kilometers—equivalent to the distance between Tehran and Amol or Chalus.

Head of judiciary highlights forex savings through sustainable production

SHANA (Tehran) – During a visit to Hegmataneh Petrochemical in Hamedan on Monday, Judiciary Chief Gholamhossein Mohseni-Ejei emphasized the importance of reviving production units across the country, particularly this year, which has been designated as the "Year of Investment in Production."

Ninth well drilled in Kish Gas Field development project

SHANA (Tehran) – The operator of the Kish Gas Field development project announced the completion of drilling the ninth well, stating that the upstream section of the project has now achieved the capacity to produce 18 million cubic meters of gas per day.

Iran’s oil minister arrives in Baghdad

SHANA (Tehran) – Iran’s Oil Minister Mohsen Paknejad arrived in Baghdad on a two-day visit to discuss expanding energy cooperation between Iran and Iraq.

First VP honors female fuel delivery drivers

SHANA (Tehran) - Two female tanker drivers from Semnan and Fars provinces were recognized as top fuel distributors by National Iranian Oil Products Distribution Company in a ceremony attended by the first vice president.  

NIOC invites ambassadors to participate in Iran Oil Show

SHANA (Tehran) — The head of public relations for the National Iranian Oil Company invited foreign ambassadors to take part in the 29th Iran International Oil, Gas, Refining, and Petrochemical Exhibition, urging them to encourage businesses and industrialists from their countries to attend.

Oil industry seeks reinvention through investment, technology 

SHANA (Tehran) - The deputy investment manager of the National Iranian Oil Company outlined strategic measures to strengthen Iran’s global position in the oil and gas sector, stating: "We aim to reinvent upstream operations through advanced technology, sustainable approaches and foreign direct investment.”

Iran Oil Show: A golden opportunity for int’l cooperation

SHANA (Tehran) – The deputy minister of international affairs and commerce for Iran’s oil minister emphasized the importance of energy diplomacy, stating that the upcoming Tehran International Oil, Gas, Refining, and Petrochemical Exhibition (Iran Oil Show) offers unparalleled opportunities to expand global cooperation in the industry.

Lawmaker calls for solving energy imbalance through investment in oil industry

SHANA (Tehran) – A member of Iran’s Parliamentary Committee for Industries and Mines said attracting investment in the upstream oil and gas sector is an effective solution to address the country’s energy imbalance crisis.

Investment in oil, gas industry essential: MP

SHANA (Tehran) – The head of the Iranian Parliament’s Oil, Gas, and Petrochemical Industries Monitoring Committee emphasized the need to attract investment in the upstream oil and gas sector to ensure a stable supply of feedstock for downstream industries.

SPGC takes major strides toward sustainable production

SHANA (Tehran) – The acting supervisor of Site 2 at South Pars Gas Complex (SPGC) announced extensive plans to boost production, enhance operational flexibility, reduce flaring, and improve employee housing infrastructure, stating that the measures taken will ensure safe and stable production in the upcoming winter.

Triple proposal to attract oil giants: Reform, revision, diplomacy

SHANA (Tehran) – A former deputy international affairs minister at Iran’s Oil Ministry stated that domestic resources alone cannot meet the developmental needs of the oil industry, proposing three key measures: reforming decision-making structures, revising contractual models, and a strategic return to diplomatic engagement to facilitate the entry of major global oil companies into Iran’s energy sector.

ICOFC says investment opportunities worth $9b up for grab

SHANA (Tehran) – The CEO of the Iranian Central Oil Fields Company (ICOFC) said the company has prepared 11 investment packages worth approximately $9 billion to develop gas fields. Once operational, these projects will increase the country's daily gas production capacity by 100 to 140 million cubic meters.

West Karoun Power Plant injects 200 MW into national grid

SHANA (Tehran) - The director of the West Karoun Power Plant construction project and its ancillary facilities said the plant’s units are injecting more than 200 megawatts of electricity into the national grid.  

Handover of Refinery 13th to Pars Oil & Gas Company   accelerates

SHANA (Tehran) - The CEO of South Pars Gas Complex (SPGC) announced that the handover process of the 13th refinery from Pars Oil and Gas Company to the South Pars Gas Complex (SPGC) has accelerated, following approval by the CEOs of NIOC  and NIGC in the new year. 

Tax incentives key to attracting investors, lawmaker says

SHANA (Tehran) — Tax and export incentives for investors are a vital step in transforming the oil industry and attracting foreign and domestic investment, said Reza Sepahvand, a member of Parliament's Energy Committee.  

Dehshir Gas Booster Station begins operations

SHANA (Tehran) - The caretaker of Iran Gas Engineering and Development Company announced the launch of the Shahid Qorbani-Motlaq (Dehshir) gas booster station in Yazd Province after the completion of a 72-hour test of its two main units.  

Iranian oil minister to visit Iraq

SHANA (Tehran) - Iran’s Oil Minister Mohsen Paknejad announced he will travel to Iraq in the coming days, highlighting strong bilateral relations and cooperation in various fields, particularly in the oil industry and joint energy projects.  

Over 130 items localized in Iran’s Gas Transmission Operation Zone 8

SHANA (Tehran) – The director of Iran’s Gas Transmission Operation Zone 8 announced self-sufficiency in 16 essential items in 1403 and said that, relying on domestic capabilities, the total number of localized items in the region has reached 132.