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Hungary will receive LNG from Qatar starting in 2027: Minister
Hungary can begin to receive shipments of liquefied natural gas (LNG) gas from Qatar in 2027, Hungarian Foreign Minister Peter Szijjarto told a news conference.
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Iran gas chief: Exports up, Europe seeks imports from Iran
SHANA (Tehran) – Iran’s deputy oil minister for gas affairs on Sunday said his country’s gas exports have increased.
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Raeisi: At least 500 knowledge-based firms cooperating with Oil Ministry under 13th administration
SHANA (Tehran) – Iran’s president on Saturday said at least 500 knowledge-based companies are cooperating with the Oil Ministry under the 13th administration.
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Iran MPs praise Oil Ministry for taking firm steps toward energy diplomacy promotion
SHANA (Tehran) – A number of Iranian lawmakers have hailed the Oil Ministry’s successful performance and its move toward reviving energy diplomacy.
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Abadan to host ECO member states’ refining companies
SHANA (Tehran) – The Abadan Oil Refining Company in southwestern Iran will host the first meeting of the Economic Cooperation Organization member states’ refining companies in late September.
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Saudi Arabia oil exports hit 21-month low in June
Saudi Arabia's crude oil exports fell for a third straight month in June to their lowest since September 2021, data from the Joint Organizations Data Initiative (JODI) showed, with big Asian buyers favouring cheaper Russian oil.
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Norway oil companies to boost investments, survey shows
Norwegian oil and gas companies plan to invest more in 2023 and 2024 than previously thought, driven mainly by rising activity as well as cost inflation from a weaker crown currency, a national statistics office (SSB) survey showed.
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Raeisi urges action to optimize energy consumption
SHANA (Tehran) – Iran’s president on Thursday urged executive organizations to take effective action on optimization of energy consumption.
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First VP: 67 oil, gas projects worth over $15b to come on stream by mid-March 2024
SHANA (Tehran) – Iran’s first vice president on Tuesday announced that 67 oil and gas projects will be put into operation by the end of current Iranian calendar year – March 19, 2024.
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Spokesman: SP Phase 11 official inauguration soon
SHANA (Tehran) – Iran’s government spokesman on Tuesday said the official inauguration ceremony of Phase 11 of the South Pars (SP) gas field will be held soon.
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Iran, Armenia extend gas-electricity swap deal until 2030
SHANA (Tehran) – Tehran and Yerevan extended their agreement until 2030 under which Iran exports more natural gas to Armenia in exchange for electricity.
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NIOC head: South Pars Phase 11 gas production starts
SHANA (Tehran) – The National Iranian Oil Company (NIOC) on Tuesday said gas production at Phase 11 of the South Pars (SP) field has started.
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PBO chief: Iran oil revenues up 42% since spring
SHANA (Tehran) – Iran’s Plan and Budget Organization (PBO) head on Tuesday said the country’s oil revenues have increased 42 percent since the beginning of the current calendar Iranian year (March 21, 2023).
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Oil dips further as China worries counter supply cuts
Oil prices dipped on Monday as concerns about China's faltering economic recovery and a stronger dollar took the momentum out of seven weeks of gains on tight supply.
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Owji: $36b energy efficiency projects offered to Supreme Economic Council
SHANA (Tehran) – Iran’s oil minister on Monday said $36 billion projects for optimizing energy consumption in different sectors have been offered to the Supreme Economic Council.
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MP: Iran has opportunity to save over $100b in energy sector
SHANA (Tehran) – A member of Iran’s Parliament on Monday said the country has the opportunity to save more than $100 billion – equaling the value of 3.5 million barrels of crude oil – in the energy sector.
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Owji: Not a cent of incumbent government’s oil revenues blocked
SHANA (Tehran) – Iran’s Oil Minister Javad Owji on Sunday said not a single cent of revenues earned from oil and gas condensate exports has been blocked since the 13th (incumbent) administration took over.
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Oil prices could rise further this year, but 2024 demand to slow sharply: IEA
OPEC+ supply cuts could erode oil inventories in the rest of this year, potentially driving prices even higher, before economic headwinds limit global demand growth in 2024, the International Energy Agency (IEA) said on Friday.
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PEDEC head: Sepehr, Jofeir official oil production to start in near future
SHANA (Tehran) – The Petroleum Engineering and Development Company (PEDEC) managing director said oil production at Sepehr and Jofeir fields in southwestern Iran could officially start during the Government Week (August 24-30).
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Iran unveils first exportable gasoline catalyst
SHANA (Tehran) – Iran’s first exportable gasoline catalyst was unveiled on Wednesday.
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NIOC chief: Iran oil output to rise to 3.5m bpd by summer end
SHANA (Tehran) – The National Iranian Oil Company managing director on Wednesday said the country’s crude production will hit 3.5 million barrels per day (bpd) by September 22, 2023.
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Raeisi praises Iran oil output rise in past two years
SHANA (Tehran) – Iran’s President Seyyed Ebrahim Raeisi on Tuesday said the country has witnessed great achievements, including a significant increase in oil output, since two years ago.
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Oil slips as weak China data offsets tightening supply
Oil prices fell by more than 1.5% on Tuesday after data showed China's imports and exports fell much more than expected in July in yet another sign of a sluggish post-COVID rebound for the world's largest oil importer.
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Iran says its Arash gas field rights must be respected
SHANA (Tehran) – Iran’s Foreign Ministry on Monday said the issue of Arash gas field is legal and technical and “we have repeatedly underlined Iran’s rights in this field”.
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Novak: Global oil demand to grow by 2.4m bpd this year
The global oil demand has recovered after the coronavirus pandemic and will grow this year by 2.4 million barrels per day (bpd), Russian Deputy Prime Minister Alexander Novak said in an interview with the Rossiya-24 TV channel.
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OPEC+ panel keeps policy unchanged against backdrop of stronger oil market
An OPEC+ ministerial panel which met on Friday made no changes to the group's current oil output policy after a Saudi decision to extend its voluntary production cut into September helped oil prices rally further.
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Iran self-sufficient in making 750 main parts of gas compressor stations despite sanctions
SHANA (Tehran) – The Iranian Gas Transmission Company (IGTC) managing director on Saturday said the country has so far become self-sufficient in manufacturing 750 main parts of gas compressor stations.
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Oil rises 2% as Saudi Arabia and Russia keep supplies tight
Oil prices gained about 2% on Thursday as Saudi Arabia and Russia were taking steps to keep supplies tight into September and possibly beyond.
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PSEEZ head: Projects worth over $21b underway in South Pars zone
SHANA (Tehran) – The Pars Special Economic Energy Zone (PSEEZ) managing director on Thursday said 27 projects worth more than $21 billion are in progress in the South Pars field, southern Iran.
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Owji: Iran won’t retreat ‘an iota’ from right to exploit Arash gas field; SP Phase 11 launch soon
SHANA (Tehran) – Oil Minister Javad Owji on Wednesday said Iran will not retreat “an iota” from its right to exploit the joint Arash gas field in the Persian Gulf.