• Iran, China ink 20 Cooperation docs

    Iran, China ink 20 Cooperation docs

    TEHRAN (Shana) -- 20 cooperation documents were signed between high-ranking officials of the Islamic Republic of Iran and China in the presence of the presidents of the two countries.

  • Development of Oil, Gas Fields in Central Regions Accelerating: CEO

    Development of Oil, Gas Fields in Central Regions Accelerating: CEO

    TEHRAN (Shana) -- The CEO of the National Iranian Oil Company (NIOC) emphasized the need to accelerate the maintenance of the production capacity of the fields operated by the Iranian Central Oil Fields Company (ICOF), and said: “The vision outlined for this company is to increase gas production to 142 million cubic meters per day.”

  • 3%, Share of Knowledge-Based Economy in GDP

    3%, Share of Knowledge-Based Economy in GDP

    TEHRAN (Shana) -- The Deputy Head of Technology of the Oil and Gas Park said: “Until the past few years, the gross domestic product from the knowledge-based sector was a small figure of about one-tenth to two-tenths of a percent, but in the past few years, this issue has become more serious and has accounted for a larger share of the gross domestic product. Recent figures indicate a three percent share of the knowledge-based economy in the GDP.”

  • Iran Eyes 50% Gas Output Growth by 2029

    Iran Eyes 50% Gas Output Growth by 2029

    TEHRAN (Shana) – The CEO of the National Iranian Oil Company (NIOC) announced the implementation of plans to increase gas production of the country by 50% by 2029.

  • Gachsaran Oil Output up 180,000b/d

    Gachsaran Oil Output up 180,000b/d

    TEHRAN (Shana) -- The CEO of Gachsaran Oil and Gas Production Company announced the daily increase of 180,000 barrels of oil with the use of skid-mounted crude oil processing unit in this company.

  • Preventing Sale of Iran Oil by Enemies Failed: Representative

    Preventing Sale of Iran Oil by Enemies Failed: Representative

    TEHRAN (Shana) -- A member of the Expediency Council and representative of the Supreme Leader in the Supreme National Security Council said: “The enemies announced that you cannot sell oil, but given the budget bill 1401 and 1402 and the amount of oil announced in it, we can sell it, and the budget is adjusted based on that.”

  • Southern Azadegan Oil Output up 45,000 b/d

    Southern Azadegan Oil Output up 45,000 b/d

    TEHRAN (Shana) -- The CEO of Petroleum Engineering and Development Company (PEDEC), while explaining the actions taken by this company in the South Azadegan field, announced the increase in daily production of crude oil by 45,000 barrels/day over the past year.

  • Iran Experts Manufacture Practical Drilling Items

    Iran Experts Manufacture Practical Drilling Items

    TEHRAN (Shana) -- The Deputy Director of Research, Technology and Construction Engineering of the National Iranian Drilling Company (NIDC) said: “About 7,200 unique parts used in the drilling industry have been localized in synergy and cooperation with 400 domestic manufacturers so far.”

  • IOTC at Forefront of Economic War on Iran Oil Industry

    IOTC at Forefront of Economic War on Iran Oil Industry

    TEHRAN (Shana) -- Iranian Oil Terminals Company (IOTC) is at the forefront of the country's economic battle, and its operations management staff, along with other departments, have shone brightly under the sanctions, said the IOTC caretaker.

  • NISOC inks MoU with Basra Oil Company

    NISOC inks MoU with Basra Oil Company

    TEHRAN (Shana) – National Iranian South Oil Company (NISOC) signed a memorandum of cooperation on the sidelines of the 13th Khuzestan Oil Industry Equipment Manufacturing Exhibition with Basra Oil Company (BOC).

  • PSEEZ Accounting for 1/3 of Iran Hard Currency Generation

    PSEEZ Accounting for 1/3 of Iran Hard Currency Generation

    TEHRAN (Shana) -- The CEO of the Pars Special Economic Energy Zone (PSEEZ) stated that more than one-third of the country's hard currency income is provided by the Zone, and said: “More than $11 billion was exported from this region in the first 10 months of the current Iranian calendar year which began on March 21, which has increased by about 50% compared to the same period last year.

  • AOGC signs 6 Cooperation MoUs, 3 Contracts

    AOGC signs 6 Cooperation MoUs, 3 Contracts

    TEHRAN (Shana) -- Arvandan Oil and Gas Company (AOGC) signed 6 cooperation memoranda of understanding (MOU) and 3 contracts on the 3rd day of the 13th Ahvaz Oil Industry Equipment Manufacturing Exhibition.

  • Showcase of Newly-Built Oil Items Kicks off

    Showcase of Newly-Built Oil Items Kicks off

    TEHRAN (Shana) -- The exhibition of knowledge-based equipment and oil industry items built domestically for the first time was inaugurated in the presence of the chairman of the board of directors of the Oil Industry Pension Funds.

  • $1.2b of oil revenue deposited in NIMA System since Dec. 22

    $1.2b of oil revenue deposited in NIMA System since Dec. 22

    TEHRAN (Shana) -- The economic spokesman of the administration said since December 22, a total of $6.2 billion of hard currency has been offered in the NIMA system, of which $1.2 billion is from the sale of crude oil and $1.7 billion from petrochemical sales.

  • Most Iran-made South Pars Refinery to Startup Soon

    Most Iran-made South Pars Refinery to Startup Soon

    TEHRAN (Shana) – The CEO of the National Iranian Oil Company (NIOC), emphasizing that the most Iranian-made South Pars refinery is about to be launched in phase-14 of the massive offshore gas field.

  • Number of KBCs Double in Khuzestan Oil Exhibition

    Number of KBCs Double in Khuzestan Oil Exhibition

    TEHRAN (Shana) -- The CEO of Arvandan Oil and Gas Company said the number of knowledge-based companies in the 13th specialized exhibition of Khuzestan oil industry equipment manufacturing has doubled since the last edition of the fair.

  • Iran Potential Oil Output at 7.4mbd: Economist

    Iran Potential Oil Output at 7.4mbd: Economist

    TEHRAN (Shana) -- The head of the economic group of the Supreme Leader's Office stated that Iran has the ability to reach the crude oil daily production capacity of 7.4 million barrels, saying: “We are an oil country, we cannot lag behind the countries that are planning to increase their production capacity.”

  • Tehran, Caracas should Implement Energy MOUs: FM

    Tehran, Caracas should Implement Energy MOUs: FM

    TEHRAN (Shana) – The Iranian Minister of Foreign Affairs emphasized the development and strengthening of cooperation with Venezuela, especially implementation of understandings in the field of energy.

  • Iran Joins Club of Sponge Coke Producers

    Iran Joins Club of Sponge Coke Producers

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said Iran has joined the 6 countries that possess the know-how of producing sponge coke in the world.

  • Export/Import Terminal of Shahid Rajaei Port Launched

    Export/Import Terminal of Shahid Rajaei Port Launched

    TEHRAN (Shana) -- Sepahan Oil Company's export and import terminal of Shahid Rajaei Port was put into operation on Saturday by video conference with the order of the Minister of Petroleum.

  • Iran Hard Currency Reserves Reliable: President

    Iran Hard Currency Reserves Reliable: President

    TEHRAN (Shana) -- The President said: “I assure the people and economic activists that we have good and reliable hard currency reserves and the money from the sale of oil returns to the country.”

  • South Pars Phase-14 Refinery Online During Fajr Decade

    South Pars Phase-14 Refinery Online During Fajr Decade

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said South Pars Phase-14 refinery will be put into operation in the Fajr decade and will process 56 to 60 million cubic meters of gas daily.

  • Mothballed Oil Wells Rehabilitation

    Mothballed Oil Wells Rehabilitation

    TEHRAN (Shana) -- National Iranien Oil Company (NIOC) has long focused on developing technologies to enhance recovery from oil wells. Although sanctions have posed an obstacle in its way, it aims to cut short the way to its objective by embarking on a quick-yielding project for the rehabilitation of low-output and abandoned wells. In this manner, by spending much less than drilling new wells, NIOC would be able to enhance its crude oil output. Without enhancing oil output, no future may be envisaged for enhanced oil recovery (EOR) projects. Therefore, the important thing would be to enhance production in any possible manner. Internationally speaking, more oil production would empower Iran to become more influential in the oil market while remaining resilient to challenges and restrictions because in the economic and political structure of the world energy, oil barrels have the final say.

  • Iran Hydrocarbon Reserves Estimated at 16 BBL

    Iran Hydrocarbon Reserves Estimated at 16 BBL

    TEHRAN (Shana) -- The director of exploration at National Iranian Oil Company (NIOC), Mehdi Fakour, has said that Iran was estimated to sit atop 16 billion barrels of hydrocarbon reserves.

  • 18 Processing Units at Abadan Refinery

    18 Processing Units at Abadan Refinery

    TEHRAN (Shana) -- Being the first oil refinery in the Middle East set up more than 110 years ago, Abadan oil refinery is considered one of Iran’s refining hubs, but due to the dilapidation of some of its units, its renovation and updating using modern technology is inevitable. For this purpose, replacement and renovation of the refinery was carried out in two stages, the first stage with the construction of a new refining complex of 150,000 b/d as phase 1 in 2005 and the second stage with the construction of a new refining complex with a capacity of 210,000 b/d under the title of Abadan Refinery Capacity Development and Stabilization Plan as Phase 2 started in July 2017 and the first part of it was put into operation in December. Therefore, the final capacity of the refinery was stabilized at 360,000 b/d.

  • Investment in Crude Oil Storage Capacity

    Investment in Crude Oil Storage Capacity

    TEHRAN (Shana) -- A meeting was held to introduce opportunities for investment in crude oil storage tanks construction and operation, required by National Iranian Oil Company (NIOC), within the framework of public-private partnership (PPP). This is the first time the private sector is given the chance for investment in the crude oil storage sector. NIOC intends to enhance its crude oil storage capacity by 7.7 million barrels.

  • SP14 Refinery Close to Operation

    SP14 Refinery Close to Operation

    TEHRAN (Shana) -- The refinery of Phase 14 of the giant offshore South Pars gas field is almost coming online. With the completion of this megaproject, which has been operated only by Iranians, all South Pars refineries would have become operational. The offshore section of this project came on-stream in 2019 with a current output of 56 mcm/d of rich gas. Over the past one year, three trains of gas sweetening have become operational at this refinery, which sets a record. The onshore section of this project has been invested $5.2 billion in.

  • Will 2023 See Oil Market Prosper?

    Will 2023 See Oil Market Prosper?

    TEHRAN (Shana) -- With the beginning of 2023, the developments of the oil market in 2022 and the perspective of the New Year have been reviewed. The idea is to examine the factors affecting the market. It must be acknowledged that 2022 experienced ups and downs in the oil market and profound changes have taken place in this market. These developments have caused the 2023 Outlook to have many uncertainties, and as a result, many reputable institutions have doubts in their forecasts, and most institutions are waiting for market stability.

  • Iran can cooperate with Algeria in Oil, Gas Studies: Speaker

    Iran can cooperate with Algeria in Oil, Gas Studies: Speaker

    TEHRAN (Shana) -- The Speaker of the Iranian Parliament said: “Iran and Algeria have the possibility to cooperate in the field of knowledge-based issues and infrastructure and energy studies, especially oil and gas.”

  • NIOC Eyes 0.9mbd Output Growth in 8 Years

    NIOC Eyes 0.9mbd Output Growth in 8 Years

    TEHRAN (Shana) -- The CEO of the National Iranian Oil Company (NIOC) said plans are under way to bring Iran’s crude oil production capacity to 5.7 million barrels per day in a matter of 8 years.