oil
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Sec. Gen. Opening Remarks at OPEC+ Technical Meeting
TEHRAN (Shana) -- Delivered by HE Mohammad Sanusi Barkindo, OPEC Secretary General, at the 7th Technical Meeting of OPEC and non-OPEC Countries under the DoC, 4 June 2020, via videoconference.
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Rouhani: Oil, Gas Projects under Way despite Sanctions
TEHRAN (Shana) – Iranian President Hassan Rouhani appreciated Iranian oil industry achievements, saying: "The United States cannot bring our nation to its knees because of the plans that we will implement in [the calendar year of] 1399, after two years and a few months of severe sanctions."
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Oil Market Black Monday
TEHRAN (Shana) -- The novel coronavirus drastically changed the consumption patterns of hydrocarbon products across the globe. Many regular consumers of oil products such as gasoline or jet fuel were no longer willing to buy them. Everyone ranging from big buyers to car owners have been affected. Oil products’ consumption has significantly declined and the refining industry has faced serious stagnation due to weakened demand. However, the impact on various sectors of the refining industry was not identical.
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Doroud, Arvand Oil Fields Up for Investment
TEHRAN (Shana) -- The Doroud oil field, which is located in Kharg Island and northwest of the Persian Gulf, is among developed oil fields which the Iranian Offshore Oil Company (IOOC) presented to foreign investors within the framework of the new model of oil contracts – the Iran Petroleum Contract (IPC).
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Iran Pahlavi I Petroleum Industry
Complex Oil Show
TEHRAN (Shana) -- The D’Arcy Concession was awarded in 1901 when the Qajar dynasty was drawing to a close. Iran’s petroleum industry was born during the Qajar period. When in 1907 D’Arcy discovered oil in Persia amid conflict for the conquest of Tehran, the Pahlavis were not yet known. However, ten years later, the British found Iran’s politics much different from before and they continued to devour Persian petroleum.
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IEF Secretary General Sends Letter of Condolences on Death of Veteran Iran OPEC Governor
TEHRAN (Shana) -- Sun Xiansheng, Secretary General of the International Energy Forum (IEF), sent a letter of condolences to Iranian Minister of Petroleum Bijan Zangeneh on the death of Hossein Kazempour Ardebili, Iran’s representative at the board of governors of the Organization of the Petroleum Exporting Countries (OPEC).
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Sec. Gen Sends Letter of Condolences to Zangeneh on Death of OPEC Governor
TEHRAN (Shana) -- Mohammad Sanusi Barkindo, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), sent an official letter of condolences to the Iranian Minister of Petroleum Bijan Zangeneh to express his sorrow for the death of Hossein Kazempour Ardebili, Iran’s OPEC governor.
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Iran Mourns Loss of OPEC Boss
TEHRAN (Shana) -- Following are some of the historical photos of Hossein Kazempour Ardebili, veteran Iranian energy diplomat who died on Saturday after nearly two weeks in a coma. May Lord bless his soul in Heaven.
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GECF Tweets Condolences on Kazempour Demise
TEHRAN (Shana) -- The Gas Exporting Countries Forum (GECF) expressed their sadness at the demise of veteran Iranian energy negotiator Hossein Kazempour Ardebili in a tweet on Saturday.
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Iran OPEC Boss Dies
TEHRAN (Shana) -- Iran's OPEC Governor Hossein Kazempour Ardebili died early Saturday after suffering a brain hemorrhage and spending nearly two weeks in a coma.
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Fate of Almost All Iran Joint Fields Determined
TEHRAN (Shana) -- The Director of Integrated Planning at the National Iranian Oil Company said the fate of all Iranian oil and gas joint fields had been determined except for one small field.
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IOOC Experts Repair Oil Pump at Forouzan Offshore Platform
TEHRAN (Shana) -- The turbine turbo-pump of Forouzan joint field was repaired by the specialists of the Iranian Offshore Oil Company (IOOC) in Khark operational district and was returned to Forouzan platform.
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ICOFC Drills 9 Wells Last Year
TEHRAN (Shana) – The Iranian Central Oilfields Company (ICOFC) successfully drilled 27,000 meters last calendar year which ended on March 19.
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Issuance of Sukuk Securities Authorized to Fund Oil, Gas Projects
TEHRAN (Shana) -- The First Vice President, Eshaq Jahangiri, signed off on the executive bylaws for the issuance of Islamic compliant securities (Sukuk) in the calendar year of 1399 (which began on March 20) to be enforced by the relevant organs.
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MOS Launched in South Yaran Oilfield
TEHRAN (Shana) – A Mobile Oil Separator (MOS) has been launched in South Yaran Oilfield Development Project.
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NIDC Drills 15 Wells in March 20-April 20
TEHRAN (Shana) – The National Iranian Drilling Company (NIDC) has successfully spudded 15 oil and gas wells in oil-rich regions of the country in the first month of the Iranian calendar year (March 20-April 20, 2020).
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Gas Condensate Loading Capacity to Rise at South Pars
TEHRAN (Shana) -- The deputy head of the South Pars Phase 19 development project announced the arrival of a tanker ship equipped with single point mooring (SPM) in Assaluyeh, southern Iran, which would augment gas condensate loading capacity of the field.
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WTI, April 20 and What Happened
TEHRAN (Shana) -- What happened on April 20, 2020 in the oil futures market? Why the benchmark US oil prices did headed to negative territory for May 20 delivery? Will the futures contract price for WTI crude for June 2020 also be negative? Why are the prices for some crude oil in the United States and Canada single-digit or negative? To get the answers to these questions, don't miss this report, which was sent to Shana by an oil market analyst familiar with the oil market.
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US Crude Oil Plunges below zero in Unprecedented Wipeout; Why?
TEHRAN (Shana) – Monday, April 20, 2020, was a historic day for New York Mercantile Exchange's (NYMEX) crude oil contracts as the price of the item plummeted to minus $ 37.63 for the first time in the industry’s history. Here is why all this happened.
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Iran Economy Least Affected by Falling Oil Prices: Rouhani
TEHRAN (Shana) -- Iranian President Hassan Rouhani said that falling oil prices would have the least impact on the Iranian economy as the country was not completely reliant on oil anymore.
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How Us WTI Crude Fell Below Zero
TEHRAN (Shana) -- The Director of International Affairs at the National Iranian Oil Company (NIOC) said the impact of the fall in crude oil prices by more than $55 on Monday, April 20, on the East Asian market was about $3 as WTI is not used as a benchmark for pricing Iranian crude oil.
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District 7 Gas Transmission Sustains 25bcm Supply
TEHRAN (Shana) -- District 7 of Gas Transmission Operations affiliated with National Iranian Gas Company (NIGC) covers mainly cold regions, including Markazi, Lorestan, Kurdestan, Kermanshah, Ilam, Hamedan and parts of West Azarbaijan and Qazvin provinces.
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Interview with NIDC Weightlifter
Dreaming of World and Olympic Championship
TEHRAN (Shana) -- Iranian weightlifters finished in second place at the 2020 Asian Junior Weightlifting Championships in Tashkent, Uzbekistan. The Iran team won four gold, 10 silver and 5 bronze medals, scoring 641 totally.
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NISOC Creating Jobs in Oil-Rich Southern Regions
TEHRAN (Shana) –The CEO of the National Iranian South Oil Company said: "With the implementation of new projects in southern oilfields, job opportunities will be created in the country."
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NISOC Operates 1st Well in Output Enhancement Projects
ILAM (Shana) – The CEO of the National Iranian South Oil Company (NISOC) said his company had started production from the first well in a package of projects aimed at enhancing productivity of old oil fields in Iran.
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Iran to Drill 1st SP Phase 11 Well by March 2021
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the first offshore well of South Pars Phase 11 project would be drilled in the current Iranian calendar year which began on March 20.
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Goldman Sachs still sees crude prices falling after OPEC+ deal
(Reuters) - Goldman Sachs said on Sunday that oil prices would continue to fall in the coming weeks, reasoning that a "historic yet insufficient" deal by major oil producers to cut output is unlikely to offset a coronavirus-led demand rout.
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10th OPEC+ Teleconference
TEHRAN (Shana) -- OPEC+ struck a deal to cut the group’s output by 10 million barrels per day in May and June 2020 which would be accompanied by G20’s decision to cut its oil output by 3.7 mbd within a year. The group men on Sunday evening to finalize a deal that had been hampered by Mexico three days earlier.
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OPEC+ Clinch 10mbd Output Cut Deal
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the coalition of oil producers at the Organization of the Petroleum Exporting Countries (OPEC) and their non-OPEC allies had agreed to curtail the group’s output by 10 mbd.
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Zangeneh Phones Russian, Kuwaiti, Algerian Counterparts on Sinking Oil Prices
TEHRAN (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh discussed the latest oil market developments and price fluctuations with Mohamed Arkab, Algerian Minister of Energy and Mines and the President of OPEC Conference on Tuesday afternoon. He also had a telephone conversation with his Russian and Kuwaiti counterparts on Monday.