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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.
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Economy minister: Iran oil revenues mainly collected in cash
SHANA (Tehran) – Iran’s minister of economic affairs and finance on Tuesday said the country’s oil revenues has been mostly collected in cash.
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Iran’s oil shipments to China triple amidst U.S. sanctions
Iran’s oil shipments to China have more than tripled over the past three years despite the U.S. sanctions on the country and the increase in Russia’s shipments to China.
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Owji says Iran will pursue its rights over Arash gas field
SHANA (Tehran) – Iran’s oil minister on Sunday said his country will pursue its rights over the Arash gas field if other parties show no willingness to cooperate.
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NPC head: Foreign countries keen to cooperate with Iran in petrochemical sector
SHANA (Tehran) – The National Petrochemical Company (NPC) managing director on Saturday said some foreign countries have called for cooperation with Iran in the petrochemical sector.
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Oil dips but on track for fifth week of gains
Oil prices edged lower on Friday, but were on track for a fifth straight week of gains as investors were optimistic that healthy demand and supply cuts will keep prices buoyant.
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Oil dips ahead of Fed rate decision
Oil prices slipped on Wednesday, with investors cautious ahead of an expected Federal Reserve rate hike later in the day and a possible increase in U.S. crude supplies.
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Owji: Iran oil sales ‘favorable’; Iraq gas debts collected in different ways
SHANA (Tehran) – Iran’s oil minister on Wednesday described his country’s crude exports as “favorable”.
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Oil prices up 2% to three-month high on tight supply, China stimulus hopes
Oil prices climbed over 2% to a three-month high on Monday on tightening supply, rising U.S. gasoline demand, hopes for Chinese stimulus measures and technical buying.
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Qalibaf calls for promoting Iran-Serbia oil, petrochemical cooperation
SHANA (Tehran) – Iran’s Parliament speaker on Sunday said Tehran-Belgrade relations and cooperation in oil and petrochemical industries can be boosted.
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IEA chief says oil demand projections depend on China's growth
The International Energy Agency (IEA) will revise its global oil demand growth projections based on the economic growth prospects of China and some other countries, its executive director Fatih Birol said on Saturday.
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UAE says current OPEC+ actions sufficient for now
Current actions by OPEC+ to support the oil market are sufficient for now, UAE Energy Minister Suhail al-Mazrouei said, and the group is "only a phone call away" if any further steps are needed.
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OPEC: Iran oil revenues up 67% in 2022
The Annual Statistical Bulletin (ASB) of the Organization of the Petroleum Exporting Countries (OPEC) shows a 67% increase in Iran’s oil revenues in 2022.
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Oil edges higher on lower U.S. crude stocks, cautious outlook
Oil prices crept higher on Thursday as a lower-than-expected drop in U.S. crude inventories and a weaker demand outlook kept investors cautious.
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NPC head: Gachsaran petrochemical project symbol of Iranian manufacturers’ capabilities
SHANA (Tehran) – The National Petrochemical Company (NPC) managing director called the recent inauguration of Gachsaran petrochemical project a “valuable” symbol of Iranian manufacturers’ capabilities.
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Brent oil hovers over $80 as inflation worries ease
Global oil benchmark Brent hovered above $80 on Wednesday, buoyed by China's pledge to reinvigorate economic growth and expectations the U.S. Federal Reserve will stop raising interest rates soon.
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Raeisi: Part of Kohgilouyeh and Boyer-Ahmad oil revenues to support production, employment sectors
SHANA (Tehran) – Iran’s president on Tuesday said the Oil Ministry has been obligated to spend part of revenues earned from oil fields of Kohgilouyeh and Boyer-Ahmad Province to meet public needs, including production and job opportunities.
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MP: Raeisi administration energy diplomacy strengthens Iran position
SHANA (Tehran) – A member of Iran’s Parliament on Tuesday said promotion of energy diplomacy by the 13th (Raeisi) administration has strengthened the country’s position in this arena.
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Owji: Oil projects worth $2.6b to be implemented in SW Iran
SHANA (Tehran) – Iran’s Oil Minister Javad Owji said upstream and downstream projects worth some $2.6 billion will be implemented in southwestern province of Kohgilouyeh and Boyer-Ahmad.
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Iran president: Gachsaran petchem project a manifestation of turning threats into opportunities
SHANA (Tehran) – Iran’s president on Monday said the inauguration of Gachsaran Petrochemical Complex is a symbol of turning threats into opportunities.