• Iran Crude Oil Production Capacity at 3.7 mbd

    Iran Crude Oil Production Capacity at 3.7 mbd

    TEHRAN (Shana) – An Iranian oil official says the country has the capacity to produce 3.7 million barrels per day of crude oil.

  • Iran About to Launch Major APG Processing Plant

    Iran About to Launch Major APG Processing Plant

    TEHRAN (Shana) – The Iranian Minister of Petroleum said the country had started countdown for launching a major plant for collecting and processing associated petroleum gas (APG) with $3 billion of investment.

  • Iran Boosts Darkhovin Oil Output

    Iran Boosts Darkhovin Oil Output

    TEHRAN (Shana) -- The CEO of Arvandan Oil and Gas Company said the production capacity of Darkhovin Oilfield had increased by 20,000 b/d over the course of the past 12 months.

  • Market Balance, a Necessity: Zangeneh

    Market Balance, a Necessity: Zangeneh

    TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the oil market was under pressure because of coronavirus outbreak and as a result the oil price had fallen to below $60 per barrel, adding, “Efforts must be made to ensure the market balance”.

  • NISOC Saves Costs by Localizing Demulsifiers

    NISOC Saves Costs by Localizing Demulsifiers

    TEHRAN (Shana) -- The localization and optimal use of demulsifiers by the National Iranian South Oil Company (NISOC) have resulted in cost savings of the company by over Rl. 270 billion.

  • NISOC Localizes Production of Over 1,000 Items since 2018

    NISOC Localizes Production of Over 1,000 Items since 2018

    TEHRAN (Shana) – The National Iranian South Oil Company (NISOC) has successfully manufactured over 1,000 items used in the petroleum industry over the course of the past year, NISOC CEO said.

  • Iran Petchem Progress not Affected by Sanctions: MP

    Iran Petchem Progress not Affected by Sanctions: MP

    TEHRAN (Shana) – A member of the Iranian parliament says the US sanctions on Iran’s economy had the least impact on the accelerating pace of the country’s petrochemical industry.

  • Last South Pars Phase 14 Platform Installed

    Last South Pars Phase 14 Platform Installed

    BUSHEHR (Shana) – The last offshore platform of Phase 14 of the massive South Pars gas field has been installed.

  • PGFE Saves Rl. 150b by Localizing 700 Items

    PGFE Saves Rl. 150b by Localizing 700 Items

    TEHRAN (Shana) -- Persian Gulf Fajr Energy Co. CEO said the firm saved 150 billion Iranian rials by localizing manufacturing of 700 items in Iran.

  • WOPGC Bracing for 7mcm/d Gas Output

    WOPGC Bracing for 7mcm/d Gas Output

    TEHRAN (Shana) – West Oil and Gas Production Company (WOGPC) has planned to bring its natural gas output to 7 million cubic meters per day.

  • TENCO Poised to Strike Oil Development Agreement

    TENCO Poised to Strike Oil Development Agreement

    TEHRAN (Shana) -- Omid Asakareh, CEO of Negin Afagh Kish Energy Development Co (TENCO), says his company is set to sign an agreement for the development of an oil field in southern Iran. He told "Iran Petroleum" TENCO would most probably operate the project in partnership with a foreign firm, saying each side’s share would depend on negotiations. He, however, said, TENCO would be able to carry on with the project on its own.

  • Oil Figures in Iran’s Contemporary History: From Conspiracy to Death

    Oil Figures in Iran’s Contemporary History: From Conspiracy to Death

    TEHRAN (Shana) -- Iran’s oil history has been into ups and downs. It would not be exaggeration if we say that we have had several hundred years of history throughout one hundred years of oil operation. In historical events, some persons have played significant roles, leading either to success or to failure. Some have served the country and some have turned out to be traitors. In fact, such figures make history and drive it forward. Decisions and behaviors of historical figures have been influential on Iran’s contemporary history. Getting to know this history can open a bright horizon for us. Here we review some of these figures:

  • 2019 Oil Market Hotbeds

    2019 Oil Market Hotbeds

    TEHRAN (Shana) -- The year 2019 was fraught with events for global oil markets. However, as far as the pricing was concerned the impacts were weak and short-lived on the market. That could have largely affected the oil market in the middle of the decade, but by the end of the last decade of the 21st century, the impact has been meager. In other words, 2019 ended the same way it had started. No significant development was witnessed in the trend of prices with which are mainly concerned producers, consumers, speculators and market analysts. Nonetheless, in the final hours of 2019, oil prices experienced an unpredicted jump to cross $70 a barrel, an unprecedented record since 2018.

  • Petchem Diversity to Widen Room for Maneuvering

    Petchem Diversity to Widen Room for Maneuvering

    TEHRAN (Shana) -- Iran’s petrochemical industry has over recent years bolstered its presence in the international markets in a bid to increase its share in the lucrative global petrochemical trading. Currently, 56 petrochemical plants in Iran are supplying 350 various types of products. Now National Petrochemical Company (NPC) managers say they intend to diversify the petrochemical market in a bid to increase Iran’s share of global petrochemical market and minimize the vulnerability of the petrochemical sector to US sanctions.

  • North Pars Gas Field Awaiting Investment

    North Pars Gas Field Awaiting Investment

    TEHRAN (Shana) -- Some 120 kilometers southeast of the southern Bushehr Province, Iran owns a gas field holding more than 57 tcf of gas in place. North Pars is among fields with high potential for investment. The field is estimated to require $16 billion in investment, including $5 billion in the upstream sector and $11 billion in the downstream sector (mainly LNG plants).

  • Yadavaran Output Capacity Set to Grow

    No Feet-Dragging at West Karoun Oil Output

    Yadavaran Output Capacity Set to Grow

    TEHRAN (Shana) -- Touraj Dehqani, CEO of Petroleum Engineering and Development Company (PEDEC), has said the company plans to increase production from the Yadavaran oil field. He also told Iran Petroleum that Iran was in talks with China’s Sinopec for the second phase development of the Yadavaran field. He noted that in case the Chinese company shows no willingness to develop this field, PEDEC would drill 25 wells in order to add 50,000 b/d to the field’s output.

  • Karoon Petchem Plant to Diversify Output Portfolio

    Karoon Petchem Plant to Diversify Output Portfolio

    TEHRAN (Shana) -- The CEO of Karoon Petrochemical Company said his company had plans to unveil new items within the next 6 months which would enhance the firm’s profitability and competitiveness in the world market.

  • Tondguyan Petchem Plant Plans to Break Production Record

    Tondguyan Petchem Plant Plans to Break Production Record

    TEHRAN (Shana) – The CEO of Tondguyan Petrochemical Company said the company had already fulfilled 85% of its planned output, adding the company was bracing to break its production record by the end of the current calendar year to March 20.

  • Iran Eyes 1bcm Gas Output: Rouhani

    Iran Eyes 1bcm Gas Output: Rouhani

    TEHRAN (Shana) – Iranian President Hassan Rouhani said measures had been taken to bring Iran’s natural gas production capacity to 1 billion cubic meters per day by next Iranian calendar year which begins on March 21.

  • Azadegan Up for Investment

    Azadegan Up for Investment

    TEHRAN (Shana) -- The Azadegan oil field is Iran’s largest oil field and the third largest field in the world, just behind Saudi Arabia’s Ghawar and Kuwait’s Burgan oil fields. Azadegan was discovered in 1997. It covers an area of 20 kilometers in width and 75 kilometers in length in Azadegan Plan, some 100 kilometers west of the city of Ahvaz. Azadegan was initially estimated to hold 33 billion barrels of oil. In 1999, a new oil layer with 2.2 billion barrels was discovered in this field. Azadegan is divided into South Azadegan and North Azadegan.

  • Petchem Value Chain Completion Envisaged

    Petchem Value Chain Completion Envisaged

    TEHRAN (Shana) -- A total of 15 petrochemical plants are affiliated with the Persian Gulf Petrochemical Industries Company (PGPIC). The plants account for 40% of Iran’s petrochemical exports. Although PGPIC has been under US sanctions, it continues to export petrochemicals. Furthermore, petrochemical production plants are coming online one after another.

  • Iran Oil ‘Takes Off’ for Mastering Technology

    Iran Oil ‘Takes Off’ for Mastering Technology

    TEHRAN (Shana) -- Iran’s petroleum industry has accelerated its development after dealing with tough conditions of sanctions over a decade and going into ups and downs. Nationalization of technical knowhow and acquisition of cutting-edge technologies have always constituted a major cause of concern for Iran’s petroleum industry. That has gathered steam in recent years thanks to efforts made by Petroleum Ministry managers in meeting the country’s needs and making maximum use of domestic capabilities.

  • NIDC Drillings Hit 132,000 Meters in 10 Months

    NIDC Drillings Hit 132,000 Meters in 10 Months

    TEHRAN (Shana) -- National Iranian Drilling Company has announced it successfully drilled over 132,000 meters of oil and gas wells over the course of the past 10 months.

  • South Pars Condensate Storage Capacity at 3.5 mb

    South Pars Condensate Storage Capacity at 3.5 mb

    TEHRAN (Shana) -- The South Pars gas condensate storage and metering project manager announced the increase in storage capacity of gas condensate in the field to 3.5 million barrels.

  • Fate of Most Iran Joint Oil, Gas Fields Determined: NIOC

    Fate of Most Iran Joint Oil, Gas Fields Determined: NIOC

    TEHRAN (Shana) -- National Iranian Oil Company (NIOC) says the development activities of the company in the joint fields of West Karoon and South Pars are seriously being pursued and their results are evident.

  • Wellhead Platform Loaded for Salman Oilfield

    Wellhead Platform Loaded for Salman Oilfield

    KHORRAMSHAHR (Shana) -- The S1 Platform of Salman Oilfield, built by relying on domestic capabilities, has been loaded from Khorramshahr Yard.

  • Loading Phase 14 Platform

    Loading Phase 14 Platform

    TEHRAN (Shana) -- The last offshore platform belonging to Phase 14 of the South Pars Gas Field has been loaded at the yard of Iran Marine Industrial Company (SADRA).

  • Iran Eyes Enhanced Oil Recovery in Azadegan Joint Field

    Iran Eyes Enhanced Oil Recovery in Azadegan Joint Field

    TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said plans were under way to enhance oil recovery factor of the Azadegan joint oilfield in the near future.

  • Petropars Developing South Pars Phase 11 Alone

    Petropars Developing South Pars Phase 11 Alone

    TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said Iran's Petropars was developing Phase 11 project of South Pars gas field as CNPC International and Total had fully abandoned the project.

  • Iranian Builders Supply 85% of Oil Industry Equipment

    Iranian Builders Supply 85% of Oil Industry Equipment

    TEHRAN (Shana) -- The chairmen of the board of directors of the Iranian Oil Industry Equipment Manufacturers Association said that the share of Iranian manufacturers and craftsmen in the supply of oil industry equipment has reached 85%.