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Additional 75,000 bpd Oil Supply Will not Affect OPEC+ Output
TEHRAN (Shana) -- Iran’s Minister of Petroleum, Bijan Zangeneh, said on Tuesday that the 75,000 bpd increase in Russia and Kazakhstan oil production in February and March will not influence OPEC+ output and world market.
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OPEC+ talks Resume on 2nd Day
The 23 members of the OPEC+ coalition met today for the second day in a row to decide on oil production in February.
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POGC Installs 2nd SBM to Facilitate Gas Condensate Export from South Pars
TEHRAN (Shana) – Pars Oil and Gas Company (POGC) has installed the second single point mooring of South Pars gas field to facilitate gas condensate exports from the offshore joint field.
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Iran Raises Volume of Estimated Persian Gulf Oil Reserves
TEHRAN (Shana) – The Iranian Offshore Oil Company (IOOC) has carried out fast track comprehensive projects of reservoir studies on four oil fields it operates in the Persian Gulf, ratcheting up estimated oil reserves by more than 740 million barrels.
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Oil market in 2020
The Downfall
TEHRAN (Shana) -- The year 2020 is coming to an end; the year in which coronavirus overshadowed the oil market, the martyrdom of General Soleimani brought the oil price to the level of $72 per barrel, the Saudi-Russian price war led to the Black Monday for West Texas Intermediate with a price of minus $37/b, to name a few. The only proper measure taken by oil market players in the year was the historic coalition of oil producers in the Organization of the Petroleum Exporting Countries (OPEC) and their allies, a grouping called OPEC+, to slash output by 9.7 million barrels per day.
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IOOC Revives 2 Wells in Salman Oil Field
TEHRAN (Shana) -- Wells No. 62 and 63 of Salman offshore oilfield have come online by the Iranian Offshore Oil Company (IOOC).
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Iran, Azerbaijan Oil, Energy Ministers Meet in Tehran
TEHRAN (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh hosted a meeting with his Azerbaijani counterpart here in Tehran to discuss oil and energy issues concerning the two neighbors.
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Iran, Russia Stress Need to Deepen Energy Cooperation
MOSCOW (Shana) – Iranian Minister of Petroleum Bijan Zangeneh and the Russian Deputy Prime Minister, Alexander Novak, called for deepening cooperation between the two countries in various fields, especially energy.
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Iran Welcomes Oil Investments by Russian Firms: Min.
MOSCOW (Shana) – Iranian Minister of Petroleum Bijan Zangeneh described Russia as a strategic partner for Iran, voicing Tehran’s willingness to welcome Russian investors in Iran’s oil industry.
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Iran Petroleum Minister meets with Russian Deputy Prime Minister
MOSCOW (Shana) – Iranian Minister of Petroleum Bijan Zangeneh met with the Deputy Prime Minister and Minister of Energy of Russia in Moscow.
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Iran Oil Minister to Visit Moscow on Sunday
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh is to leave Tehran for Moscow on Sunday, December 20, to review the latest developments in the global crude oil markets with Russian officials.
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NIDC Researcher Invents New Cement to Boost Life of Oil Wells
TEHRAN (Shana) – A researcher at the National Iranian Drilling Company (NIDC) succeeded in inventing a new type of cement to increase the useful life of oil and gas wells.
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MOGPC Registers New Polymer Compound
TEHRAN (Shana) -- Maroon Oil and Gas Production Company (MOPGPC) succeeded in making a new two-dimensional polymer from zinc and organic binders from the category of coordination polymers.
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Diplomacy of Silence
TEHRAN (Shana) -- The silence diplomacy. That describes the policy Iran’s Minister of Petroleum Bijan Zangeneh adopted after US President Donald Trump quit the 2015 Iran nuclear deal in 2015 and re-imposed oil sanctions on Iran.
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The US is Loser in Imposing Sanctions on Iran
TEHRAN (Shana) -- The head of "Committee for Developing Iran’s Economic Cooperation with Iraq and Syria" has said the United States was the loser due to Washington’s failure to zero Iran’s oil and gas exports.
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Iran Energy Diplomacy with Iraq
TEHRAN (Shana) -- Iran’s first post-Saddam ambassador to Iraq has said Tehran and Baghdad would tie their economic infrastructure to counter enemies. Hassan Kazemi Qomi told "Iran Petroleum" that the energy diplomacy was the wing of national security.
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Iran Ready to Pump Gas to Europe
TEHRAN (Shana) -- Veteran Iranian diplomat Ali Majedi has said Iran is always attractive to European firms thanks to its huge energy reserves. Majedi, who has been ambassador to Germany, Japan and Brazil, told "Iran Petroleum" that Iran’s oil, gas and petrochemical sector would receive €15 billion in German investment were it not for US sanctions.
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Fuel Demand Crisis
TEHRAN (Shana) -- Global oil demand has dropped about 10% due to the coronavirus pandemic and subsequent economic crises. Such fall in demand has been accompanied with other problems and challenges. For instance, companies have had to cut investment in production by 25-30%.
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47th JTC and 25th JMMC moved to 3 and 4 January 2021
VIENNA (Shana) -- The 47th Meeting of the Joint Technical Committee (JTC) and the 25th Meeting of the Joint Ministerial Monitoring Committee (JMMC), originally scheduled for 16 and 17 December 2020 have been rescheduled for 3 and 4 January 2021, respectively.
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Maroon-Isfahan Pipeline Incident Fully Contained
TEHRAN (Shana) -- The CEO of the Iranian Oil Pipelines and Telecommunication Company (IOPTC) said the fire caused by the crude oil spill in the Maroon pipeline was completely contained and the damaged part of the pipeline was repaired, adding the pipeline would become operational soon.
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2.3 mbd Oil Exports Practical for Iran: President
TEHRAN (Shana) – Iranian President Hassan Rouhani said the achievements of the oil industry in recent years had been significant, and added: "Export of 2.3 million barrels of crude oil per day is practical."
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Iran to Ink Turbine Deal with Local Firm
TEHRAN (NIPNA) – Iranian Minister of Petroleum Bijan Zangeneh said the country was planning to sign a deal with a local firm for manufacturing pressure boosting turbines and compressors for South Pars Phase 11 project.
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Ramping up Iran Oil Exports to 2.3 mbd, Practical: Min.
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh says the country could build up its crude oil exports to 2.3 million barrels per day, saying: "Boosting oil production is Iran's right and it does not ask for anyone’s permission to do that."
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South Pars Phase 11 Drilling Operations Officially On
TEHRAN (Shana) -- Drilling operations of the first well of South Pars Phase 11 development project kicked off officially by the order of Iranian Minister of Petroleum Bijan Zangeneh today (Monday, December 14).
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€500 m Saved in Goreh-Jask Pipeline Construction
TEHRAN (Shana) -- The CEO of the Petroleum Engineering and Development Company said: "Domestic manufacturing of the equipment for the construction of the 1,000-kilometer Goreh-Jask pipeline, which is now 80 percent complete, has saved the country 500 million Euroes in hard currency."
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Building 5 IOOC Offshore Oil Rigs under way in Khorramshahr
TEHRAN (Shana) -- Construction of five offshore platforms of Abuzar, Forouzan and Resalat oil fields operated by the Iranian Offshore Oil Company (IOOC) is under way in Khorramshahr.
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Forging 16-inch Pipes Begins at ICOFC
TEHRAN (Shana) – The Iranian Central Oil Fields Company has started forging 16-inch pipes to transfer sour gas from Dehloran, Danan and Azar fields to the 3100 liquefied gas and gas plant.
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Iran Crude Oil Output, Sales Different next Year: Rouhani
TEHRAN (Shana) – Iranian President Hassan Rouhani said: "The world should receive the message well that the conditions for oil production and sales of the Islamic Republic of Iran will be completely different next year from two years ago, although the sanctions vested interests and despair mongers may not be very happy about this sign."
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6th Meeting of Iran-Austria Energy Working Group Held via Videoconference
TEHRAN (Shana) -- The sixth meeting of the Iran-Austria Energy Working Group under the responsibility of the Iranian Ministry of Petroleum was held on Wednesday, December 9, via video conference.
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6th Meeting of Iran-Austria Energy Working Group to be Held on Wednesday
TEHRAN (Shana) -- The sixth meeting of the Iran-Austria Energy Working Group under the responsibility of the Iranian Ministry of Petroleum will be held on Wednesday, December 9, via video conference.