Shana

Iran, Iraq stress expanding energy cooperation

SHANA (Tehran) — Iran’s Oil Minister and Iraq’s Electricity Minister emphasized the need to expand cooperation in oil, gas, petrochemicals, and electricity between the two countries during a meeting Wednesday.  

Upstream energy investment transformation event to be held in Tehran

SHANA (Tehran) – The Strategic Transformation in Iran’s Upstream Oil and Gas Sector event, aimed at unlocking investment and financing in National Iranian Oil Company (NIOC) projects, will take place on April 15, in Tehran.

Bovard appointed to board of trustees at Institute for International Energy Studies

SHANA (Tehran) – Hamid Bovard, managing director of the National Iranian Oil Company, has been appointed as a member of the board of trustees at the Institute for International Energy Studies.

6% increase registered in natural gas consumption in residential sector

SHANA (Tehran) – The spokesperson for the National Iranian Gas Company (NIGC) reported a 6% increase in natural gas consumption by the residential, commercial, and small industrial sectors on Tuesday (March 4) compared to the same day last year.

MP: Transferring gasoline quotas to bank accounts promotes transparency

SHANA (Tehran) – The head of the Parliament Energy Committee stated that transferring gasoline quotas to bank accounts would enhance transparency and expressed that this move would lead to public satisfaction and clarity in gasoline rationing.

867 mcm of gas delivered to national grid in one day

SHANA (Tehran) – The spokesperson for the National Iranian Gas Company (NIGC) announced that 867 million cubic meters (mcm) of natural gas were delivered to the national grid on Monday.

Localization of reactor prevents millions of dollar outflow

SHANA (Tehran) – The first domestically produced methanol synthesis reactor, which has been localized to prevent tens of millions of dollars outflow, was installed at the second phase of the Sabalan Petrochemical Complex.

Gov’t launches 14 major projects to address imbalances

SHANA (Tehran) – The government spokesperson announced that the administration is implementing 14 major projects, or megaprojects, aimed at reducing imbalances, with some focusing on production and others on demand.

Arya Sasol develops new polyethylene grade for drip irrigation tape

SHANA (Tehran) – Arya Sasol Polymer Company successfully developed a new medium-density polyethylene grade for the production of drip irrigation tape, marking a first in the country.

Agreement inked to transfer gasoline quotas to bank accounts

SHANA (Tehran) – The National Iranian Oil Refining and Distribution Company (NIORDC) and the Tehran Municipality signed an agreement to pilot the transfer of gasoline quotas from fuel cards to vehicle owners' bank accounts.

Parliament speaker orders comprehensive report on energy imbalance

SHANA (Tehran) – The Speaker of the Parliament tasked the Energy Committee with preparing a detailed report on the energy imbalance to be presented during an open session of the Parliament.

KOGPC reaches daily production of 1m barrels

SHANA (Tehran) – The CEO of Karoon Oil & Gas Production Company (KOGPC) announced an 11% increase in the company's oil production in the year 1403 (2024-2025) compared to the previous year, stating that daily oil production at Karun has reached 1 million barrels.

Five provinces account for 45% of Iran’s gas consumption

SHANA (Tehran) – The head of Iran’s National Gas Dispatching Center announced that on February 26, gas consumption in the residential and commercial sectors reached 703 million cubic meters (mcm), stating that the provinces of Tehran, East Azarbaijan, Razavi Khorasan, Isfahan, and Mazandaran had the highest gas consumption, accounting for 45% of the country’s total gas usage.

OPEC+ countries to gradually restore oil production starting April

SHANA (Tehran) – The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman met virtually on March 3, 2025, to review global market conditions and the future outlook.

Minister: Energy imbalance problem decades in the making

SHANA (Tehran) – Oil Minister Mohsen Paknejad stated on Tuesday that the current imbalance in energy carriers is not the result of decisions made over the past three months, three years, or even six years.

Sustainable gas production attributed to SP employees’ efforts

SHANA (Tehran) – The CEO of the South Pars Gas Complex highlighted recent production records, stating that work and production are central to the country’s economic development and progress.

Gas, diesel deliveries exceed targets this winter

SHANA (Tehran) – Gas and diesel deliveries during the winter of the current year surpassed the predetermined quotas, with average daily gas supply to the network exceeding 870 million cubic meters in the month of Bahman (Jan. 19-Feb. 18).

Investment in Band Karkheh oil field development approved by Economic Council

SHANA (Tehran) – The Economic Council, during its meeting on Monday, reviewed and approved a request from the Ministry of Oil to amend a previous resolution regarding a gas supply project for power plants on Kish Island and to invest in the development and operation of the Band Karkheh oil field.

NPC:

Over $9b from petchem exports returned to national economy

SHANA (Tehran) – The CEO of the National Petrochemical Company (NPC) announced that the total exports of the petrochemical industry over the past 11 months amounted to approximately $12 billion, of which $9.14 billion reinjected into the country’s economic cycle.

Iranian crude oil OSP for March announced by NIOC

SHANA (Tehran) – The National Iranian Oil Company (NIOC) has set the official selling prices (OSP) for Iranian crude oil in March. According to the company, Iran’s light crude oil will be priced $4.35 above the benchmark price (Oman/Dubai crude) for Asian customers.

Residential sector gas consumption remains at peak; 675 mcm used

SHANA (Tehran) – The spokesperson for the National Iranian Gas Company (NIGC) reported that 78% of the total gas supplied to the national grid was consumed by the residential, commercial, and small industrial sectors as temperatures dropped. On Sunday, 675 million cubic meters (mcm) of gas were consumed in these sectors.

ICOFC completes drilling of gas well No. 79 completed in Khangiran field

SHANA (Tehran) – The drilling of development well No. 79 in the Khangiran gas field, located in Khorasan Razavi Province, has been successfully completed by the technical management team of Iranian Central Oil Fields Company (ICOFC).

Necessity of root cause analysis in energy imbalance highlighted

SHANA (Tehran) – The deputy minister of oil emphasized the need for a root cause analysis of energy imbalance, stating that identifying and evaluating problems and challenges is essential to defining practical solutions, which can be achieved through the right strategy.

Bandar Imam Petrochemical Company exports grow by 44%

SHANA (Tehran) – Bandar Imam Petrochemical Company (BIPC) has broken its six-year export record in the first 11 months of this year (March 20, 2024-February 18, 2025).

Siri Island: Iran’s oil hub in Persian Gulf

SHANA (Tehran) – Siri Island, also known as Raz Island, is Iran’s southernmost island and the last piece of Iranian territory in the heart of the Persian Gulf. It is the country’s most oil-rich island, where oil is extracted and exported from five fields: Nosrat, Esfand, Sivand, Dena, and Alvand.

NIOPDC takes steps to utilize artificial intelligence

SHANA (Tehran) – The National Iranian Oil Products Distribution Company (NIOPDC) signed two memorandums of understanding (MoUs) with knowledge-based companies to optimize processes, combat fuel smuggling, and address imbalances using artificial intelligence (AI).

Over 6 bcm of natural gas delivered to national grid in seven days

SHANA (Tehran) – During the week to February 28, 6.048 billion cubic meters (bcm) of natural gas were produced and delivered to the national grid.

Development cannot be sustainable without environmental benefits: NIGC

SHANA (Tehran) – Saeid Tavakoli, CEO of the National Iranian Gas Company (NIGC), stated that achieving sustainable development and progress is impossible without considering environmental benefits.

President highlights efforts to address imbalances

SHANA (Tehran) – The president stated that upon taking office, the administration faced significant imbalances in various sectors, including water, electricity, and gas. He emphasized that blaming one another will not solve the problem.

New downstream petchem projects to be introduced

SHANA (Tehran) – The CEO of the National Petrochemical Company (NPC) announced that several new projects aimed at developing downstream petrochemical industries will soon be introduced across the country. These projects will take into account regional planning, existing infrastructure, and the availability of feedstock and water resources for investment.