Shana

Paknejad: Iran-Russia annual trade could surpass $10b

SHANA (Moscow) – Iran’s oil minister said the potential for trade and economic cooperation between Iran and Russia is far greater than $5 billion, adding that the goal is not just to reach $10 billion but to elevate relations to even higher levels through agreed-upon frameworks.

Overhaul of South Pars Gas platforms begins

SHANA (Tehran) – The caretaker of operations and support department at Pars Oil and Gas Company (POGC) announced the start of annual overhauls at South Pars gas platforms.

Iranian oil minister arrives at Moscow

SHANA (Moscow) – Iranian Oil Minister Mohsen Paknejad arrived in Moscow on Thursday to attend the 18th meeting of the Iran-Russia Joint Economic Cooperation Commission.

Iran-Russia Energy Transit Project: A mega project to strengthen bilateral ties

SHANA (Moscow) – Iran’s ambassador to Russia, Kazem Jalali, described the Russia-Iran energy transit project as one of the major initiatives aimed at expanding bilateral relations and stressed the need to finalize it.

Iran-Russia Economic Commission symbolizes political will to expand cooperation

SHANA (Moscow) - The deputy for international affairs and commerce at Iran’s Oil Ministry described the Iran-Russia Economic Commission as a symbol of the two countries’ political will to strengthen cooperation and achieve shared successes throughout the year.  

Tehran, Moscow commit to expanding bilateral cooperation, boosting trade 

SHANA (Moscow) - Iran’s ambassador to Russia announced that Iran and Russia are determined to expand bilateral cooperation in various fields, including the International North-South Transit Corridor (INSTC), transit projects and gas transfers. 

Iran, Russia stress strengthening oil, gas cooperation

SHANA (Moscow) – Iran’s deputy minister of international affairs and commerce and Russia’s deputy energy minister emphasized bolstering bilateral cooperation in the oil and gas sector during a meeting.

Implementing benchmark models to address SP gas field challenges  

SHANA (Tehran) - Saeid Pakseresht, the integrated planning manager of the National Iranian Gas Company, said precise and systematic planning is essential to implement benchmark models and resolve key challenges at the South Pars Gas Complex.  

Domestic goods used in South Pars overhaul 

SHANA (Tehran) - The CEO of South Pars Gas Complex (SPGC) emphasized the importance of high-quality maintenance operations and the use of domestic goods, stating that precise planning and implementation of safety measures during this period are essential.  

Daily production at SP gas field equivalent to 4.5m barrels of crude oil

SHANA (Tehran) – The gas production at South Pars field is equivalent to 4.5 million barrels of crude oil per day, according to the oil and gas engineering director of Pars Oil and Gas Company. He noted that this significant output supplies the majority of Iran’s consumed gas and gas condensates, as well as feedstock for 40% of the country’s gasoline production.

NIOC shifts approach to attracting domestic, int’l investors

SHANA (Tehran) – The head of investment opportunity identification and development at National Iranian Oil Company (NIOC) said the company has changed its approach to offering investment opportunities, emphasizing a new strategy to build mutual trust with investors through incentives.

Oil minister reports on investment conference in oil sector

SHANA (Tehran) – The oil minister presented a report at today’s Cabinet meeting on developments in investment and expansion in Iran’s upstream oil and gas sector.

Iran-Russia economic relations on path to growth

SHANA (Moscow) – The director-general of Russia’s Energy Agency highlighted the growing development of Iran-Russia economic cooperation and stressed the need for increased bilateral talks to strengthen ties, stating that relations between the two countries in various economic sectors are expanding.

Iran’s official oil prices for May announced

SHANA (Tehran) – The National Iranian Oil Company has set the official selling prices (OSP) for its crude oil in May 2025.

Official highlights tracking Iran-Russia oil coop

SHANA (Moscow) – The director-general for Europe, America, and the Commonwealth of Independent States at Iran’s Ministry of Oil said gas trade and petrochemical cooperation will be pursued within the Iran-Russia Economic Cooperation Commission.

Tehran, Moscow agree on key cooperation areas

SHANA (Moscow) – The head of the Russian Energy Ministry’s International Cooperation Department said Tehran and Moscow have reached agreements on a significant portion of their bilateral cooperation areas during economic talks—a development that could open new horizons for deepening Iran-Russia economic relations.

History of Iran-Russia strategic partnership

SHANA (Tehran) – The history of the Iran-Russia Joint Economic Commission reflects the complex relationship between the two nations. From its first session in December 1996 to the 17th meeting in February 2024, these gatherings have not only strengthened economic ties but also demonstrated resilience against Western political pressure and sanctions.

Private sector involvement in oil product distribution

SHANA (Tehran) – The CEO of the National Iranian Oil Products Distribution Company (NIOPDC) announced plans to maximize private sector participation in storage, transportation, and distribution of oil products, stating that government involvement in these areas must be reduced in line with upstream policies and directives.

Expert meetings begin for Iran-Russia Joint Economic Commission

SHANA (Moscow) – The expert meetings of the 18th Iran-Russia Joint Economic Cooperation Commission began Wednesday in Moscow at the Russian Energy Agency. Specialized working groups from both countries convened to discuss bilateral cooperation.

Tehran, Moscow bent on boosting economic ties

SHANA (Tehran) – The deputy for international affairs and commerce at Iran’s Oil Ministry emphasized the importance of convening the 18th Iran-Russia Joint Economic Cooperation Commission, stating that the signing of a comprehensive strategic partnership agreement between the two countries has further expanded opportunities for collaboration.

50 gas fields to be developed with $41b investment

SHANA (Tehran) – The acting head of engineering and development at the National Iranian Oil Company announced that investment packages have been prepared to develop 50 gas fields, aiming to increase daily gas production capacity by 500 million cubic meters.

Accelerating refining industry development with focus on priority projects

SHANA (Tehran) – The investment director of the National Iranian Oil Refining and Distribution Company (NIORDC) emphasized the need for a detailed strategic plan to achieve the refining industry’s vision, stating that implementing new policies to attract investment, ensure energy security, and improve supply chain efficiency is essential.

More incentives provided for joint oilfield development

SHANA (Tehran) – The deputy engineering and development director of the National Iranian Oil Company (NIOC) said legal incentives and facilitation measures have been provided for investors in the development of shared oil and gas fields, which exceed those for independent fields.

NIOC plans comprehensive flare gas recovery program

SHANA (Tehran) – The deputy director of investment at the National Iranian Oil Company (NIOC) announced new plans to accelerate flare gas recovery and optimize the use of this valuable resource, stating that NIOC is prepared to offer a package of incentives to attract investors in this sector.

World Bank model proposed for transferring partial project management to private sector

SHANA (Tehran) – Majid Mortezaei, head of development investment and partnership management at the National Iranian Oil Company’s Investment Management, pointed to the World Bank’s model for infrastructure projects, stating that a key aspect of this approach involves transferring part of project management to the private sector and using performance- and quality-based contract models.

Oil Guarantee Fund to support upstream projects

SHANA (Tehran) – The CEO of the National Iranian Oil Company announced the launch of a non-governmental Oil Guarantee Fund with an initial capital of €300 million, stating that the fund will enable the issuance of necessary guarantees worth billions of euros for upstream projects.

NIORDC urges

Strengthening gov’t-private sector collaboration to attract investment

SHANA (Tehran) - The CEO of the National Iranian Oil Refining and Distribution Company (NIORDC) emphasized the importance of transparent investment processes and removing administrative barriers, stating that existing interactions between the public and private sectors must increase to facilitate new investment opportunities.

Introduction of new exploratory opportunities for investment

SHANA (Tehran) – Officials from the National Iranian Oil Company (NIOC) presented the latest geological achievements and studies at a conference introducing oil exploration projects, highlighting the significant potential of various regions across the country for oil and gas exploration and production.

Examining IPC contract models at the investment transformation event

SHANA (Tehran) – The contractual models of Iran’s Petroleum Contract (IPC) were introduced and reviewed during a specialized session at the Investment and Development Transformation Event in Iran’s upstream oil and gas sector.

New chapter begins in oil field development

SHANA (Tehran) – The CEO of the National Iranian Oil Company (NIOC) announced the start of a new phase in cooperation with domestic and foreign investors, citing recent key approvals in oil field development and financial facilitation. He emphasized the need for greater collaboration among financial experts to design innovative capital financing models.