oil
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Ex-NIOC CEO Relates Experience of Iran Returning to Oil Market
TEHRAN (Shana) -- The former CEO of the National Iranian Oil Company spoke about the experience of returning Iranian oil to the market after the Joint Comprehensive Plan of Action (JCPOA).
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Tehran to host 10th Int'l Exhibition of Innovation, Technology
TEHRAN (Shana) -- The 10th International Exhibition of Innovation and Technology (INOTEX 2021) with various events and side events will be held from 18 to 21 May, in the open air of Pardis Technology Park and in compliance with health protocols.
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Iran Developing Sohrab Oil Field
TEHRAN (Shana) -- Iran shares Sohrab oil field with Iraq. It is limited by the Mehr block to north, to the Azadegan field to south, to Band Karkheh, Susangerd, Jofair and Sepehr fields to southeast. Sohrab accommodates Ilam, Sarvak, Gadvan and Fahlyan reservoirs whose rock is mainly carbonated. Sohrab is one of prioritized fields for foreign investment in Iran’s petroleum industry.
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Changouleh, Kish Up for Development
TEHRAN (Shana) -- Changouleh is one of the important oil fields in West Karoun region in southwestern Iran. Foreign companies have, time and again, shown interest in getting involved in development of this untapped field which Iran shares with neighboring Iraq.
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5 Petro Museums across Iran
TEHRAN (Shana) -- Recreation and display of the historical identity of oil in a land, where the first Middle East oil wells were drilled and whose petroleum industry is more than a century old now pushed the Petroleum Ministry to put on exhibit this historical identity.
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Seamless Pipes Manufactured in Iran
TEHRAN (Shana) -- More than six years have passed since the project started for the domestic manufacturing of 10 groups of widely-used petroleum industry commodities. This initiative was adopted upon Minister of Petroleum Bijan Zangeneh’s call for maximum support for Iranian manufacturers.
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ICOFC Receives Energy Management System Certification
TEHRAN (Shana) – The Iranian Central Oil Fields Company (ICOFC), as the largest producer of gas in the country's land fields, has received the standard certification of energy management system (ISO50001: 2018) for observing international standards while boosting its productivity.
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Tehran, Ashgabat Discuss Enhanced Oil Ties
TEHRAN (Shana) -- Strategies for expanding oil cooperation between Iran and Turkmenistan were discussed at a meeting between the CEO of the Caspian Oil Company and the Ambassador of Turkmenistan to Iran.
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Zangeneh Receives Iraqi Electricity Minister
TEHRAN (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh had a meeting with the visiting Iraqi Electricity Minister Majid Mahdi Hantoush to discuss methods to settle Iran's gas money demands from Iraq.
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Iran, Iraq Discuss Gas Debt Arrears in Tehran Meeting
TEHRAN (Shana) -- Senior government ministers from Iran and Iraq held a meeting in Tehran to discuss arrears on a multi-billion dollar debt Iraq owes to Iran for imports of natural gas in recent years.
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Iran says more in Control of Oil Sales
TEHRAN (Shana) – First Vice President Eshaq Jahanigiri said Iran has tried to neutralize the impact of the sanctions and has gained a lot of control over its oil sales.
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OPEC and non-OPEC Ministerial Meeting highlights importance of ongoing rebalancing efforts
VIENNA (Shana) -- The 16th OPEC and non-OPEC Ministerial Meeting of the Declaration of Cooperation (DoC) took place via teleconference on Tuesday, 27 April 2021, under the Chairmanship of HRH Prince Abdul Aziz bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Deputy Prime Minister of the Russian Federation.
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NISOC Prepared to Enhance Iran Oil Output: CEO
TEHRAN (Shana) -- The CEO of the National Iranian South Oil Company (NISOC) announced the company's readiness to increase its oil output to a figure beyond the pre-sanctions levels in 2018.
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E1P6 Well of Esfand Fields Productive
TEHRAN (Shana) -- The SIE-E1P6 well of Esfand offshore oilfield was put into operation with an approximate 2,000 b/d of crude oil production capacity.
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Oil Facilities Operating Normally despite Quake
TEHRAN (Shana) -- The oil and gas facilities of the National Iranian Oil Company are operating normally and their condition is stable despite a 5.9-magnitude earthquake that hit southern Iran on Sunday, April 18, 2021.
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Non-State Oil Industry Research, Technology Fund signs Deals
TEHRAN (Shana) -- The Non-State Oil Industry Research and Technology Fund has signed two contracts for guaranteed purchases and two contracts for venture capital.
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Maroun Oil/Gas Co. Lifts Output
TEHRAN (Shana) -- Enhancing oil production against the backdrop of oil fields’ complexities has always been a major issue of concern for operating companies, sometimes proving costly. The three oil fields - Maroun, Kupal and Shadegan- in southern Iran are among oil fields where oil and condensate production is complicated. Maroun Oil and Gas Production Company (MOGPC) is tasked with oil and condensate production from the three fields.
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Persian Gulf Star Refinery Rejuvenates Iran Oil Industry
TEHRAN (Shana) -- Iran was importing gasoline until two years ago. In 2018, Iran imported up to 4.5 ml/d of gasoline. It is now exporting gasoline to regional and world nations. In light of the commissioning of the Bandar Abbas Condensate Refinery, known as the Persian Gulf Star, Iran became an active exporter of this strategic product during the first seven months of the current calendar year, earning about $1.4 billion in revenue. This report reviews the current condition of gasoline export and diversity in refined petroleum products supplied by the treatment facility.
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Production Costs Trend as Oil Age Ends
TEHRAN (Shana) -- Crude oil extraction and production cost is an effective factor in oil pricing. Such costs vary from one spot to another, depending on the size and availability of oil reserves. Although most oil companies are unwilling to release precise data about oil production costs.However, estimates about costs of extracting oil from active fields in various countries are available. Comparing these costs would be key to analyzing the future of world oil markets. This data would show which countries can keep producing oil, even though in periods when prices keep falling. This issue takes up added significance in light of significant reduction in oil prices over recent years.
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Iran OPEC Boss Meets Sec. Gen. Barkindo
VIENNA (Shana) – Iran’s OPEC Governor Amir Hossein Zamaninia met with HE Mohammad Sanusi Barkindo, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), in Vienna on Thursday to discuss ideas concerning Iran’s return to the global oil market.
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Refining Industry Shines in 1399
TEHRAN (Shana) -- The calendar year of 1399 (which ended on March 20) can be called the year of the country's refining industry with the fourfold growth of oil products exports and Iran's joining the gasoline exporters club.
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15th OPEC+ Meeting Kicks Off Online
TEHRAN (Shana) -- The 15th meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a grouping called OPEC+, began a few minutes ago via video conference.
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DoC Joint Technical Committee Convenes 50th Meeting
VIENNA (Shana) -- The Joint Technical Committee (JTC) held its 50th meeting via videoconference to examine oil market developments and related trends.
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Iran Oil Documents Declassified
TEHRAN (Shana) -- Documents and artefacts are the main items in the Petroleum Industry Directorate of Museums and Documents. They are instrumental in preserving the history of Iran’s petroleum industry. The Directorate started work effectively in 2014 and has since gathered documents, audiovisual and written references as well as artefacts and old items and tools. In this newly-established center, regulations and protocols including identification, gathering, restoration, preservation and documentation for prospective use by researchers, students and professors have been highly respected.
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China Silent on Yadavaran Phase 2 Development
TEHRAN (Shana) -- The manager of Yadavaran oil field development has said that the Chinese have not presented any suggestions for the second phase development of the Yadavaran field. He said that the production capacity of this field had increased in the past one year, but the Chinese had not offered any plans for the project. He said Iran would not wait for the Chinese to develop the second phase of this field.
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Iran Prepared to Return to World Oil Markets: CEO
TEHRAN (Shana) -- The CEO of the National Iranian South Oil Company (NISOC) said Iran is prepared the return to the global oil markets given enhancement of oil production in the company.
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3-Phase Oil Separator Tank Localized
TEHRAN (Shana) -- The three-phase oil separator tank has been localized by the Iranian Central Oil Fields Company.
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Wells Secured in Nowruz Offshore Field
TEHRAN (Shana) -- The final safety operation of the erupted wells No. 5, 6, 7 and 8 in Nowruz offshore field was successfully performed by the diving teams of Khark Underwater Repairs.
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Project to Enhance/Maintain Productivity of Zilaei Field Online
TEHRAN (Shana) -- The executive operation of a plan to maintain and enhance production of the Zeilei Field has kicked off.
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Is Brent Crude Headed Towards $100 a Barrel?
TEHRAN (Shana) -- Since early December crude oil prices have staged an impressive comeback. Brent crude price has shot up from $40 a barrel in early December to $67.20 on 25 February 2021. The question is how high oil prices are destined to go this year and next.