oil
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NPC Eyes Development of Petchem Industry by Relying on Domestic Capabilities
TEHRAN (Shana) -- The CEO of the National Petrochemical Company stressed the need for relying on domestic capabilities for the development of the petrochemical industry, calling for developers to consider national interests in developing the industry.
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MOP Invests $5b in Environmental Projects
TEHRAN (Shana) -- The HSE director general of the Iranian Ministry of Petroleum has said that the ministry has invested about $5 billion in environmental projects, mostly in the field of collecting associated petroleum gas.
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New Chapter Opens in Tehran-Havana Relations
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji and Cuban President Miguel Diaz-Canel signed memoranda of understanding to expand cooperation between the two countries in various economic sectors.
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No Restrictions on Developing Economic Ties with Nicaragua: Owji
TEHRAN (Shana) – The Iranian Minister of Petroleum said: "There are no restrictions for Iran and Nicaragua in developing economic relations."
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PGPIC CEO Invites Brazilian Firms to Iran Petchem Industry
TEHRAN (Shana) -- The CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) said: "Today, PGPIC has 14 projects under construction with a domestic return price of at least 15%, which is a good opportunity for foreign investment, and in this regard we welcome the investment of Brazilian companies."
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NIOC CEO Meets with Vice President of Indonesian Parliament
TEHRAN (Shana) -- Mohsen Khojastehmehr, the CEO of the National Iranian Oil Company, met with an Indonesian delegation headed by the Vice Speaker of the House of Representatives of the Republic of Indonesia for Industry and Development.
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Owji Inks 8 Agreements in Latin America
TEHRAN (Shana) -- During the Minister of Petroleum's visit to Latin America, four memoranda of understanding, two agreements in the field of oil and two agreements in the field of agriculture were signed.
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Iran Seeking Expanded Ties in Central America
TEHRAN (Shana) -- During his visit to South and Central America, the Minister of Petroleum met with Nicaraguan President Daniel Ortega and Speaker of the National Assembly of the country.
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Iran Eyes 5.7 mbd Oil Output
TEHRAN (Shana) -- The CEO of the National Iranian Oil Company, emphasizing the importance of repairing and renovating the facilities of oil terminals, announced the prospect of the country's crude oil production capacity to 5.7 million barrels per day within the next eight years.
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Iran-Venezuela Energy Cooperation Capacities Examined
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji headed a delegation to Venezuela, where he met with senior Venezuelan officials to emphasize development of Tehran-Caracas relations, especially in the field of energy.
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Venezuelan President Stresses Need to Deepen Tehran-Caracas Energy Ties
TEHRAN (Shana) -- "It was a constructive meeting to deepen brotherhood ties and energy cooperation," the Venezuelan president wrote about his meeting with the Iranian Minister of Petroleum during the Iranian delegation's visit to Caracas.
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Iran Keen on Tapping Capacity of Iran-Venezuela Ties: Owji
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said in his twitter account: "We want to use all our capacities to develop bilateral relations and cooperation.”
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OPEC+ Meeting
TEHRAN (Shana) -- The meeting of the oil and energy ministers of OPEC+ countries was held on Thursday, May 5, via videoconference. The group decided to raise production targets by 432,000 barrels per day for next month, sticking to an existing strategy of gradually unwinding record supply cuts.
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28th OPEC and non-OPEC Ministerial Meeting
TEHRAN (Shana) -- Following the conclusion of the 28th OPEC and non-OPEC Ministerial Meeting, held via videoconference on 5th May, it was noted that continuing oil market fundamentals and the consensus on the outlook pointed to a balanced market. It further noted the continuing effects of geopolitical factors and issues related to the ongoing pandemic.
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OPEC+ Sticks to Output Growth Plan for June
TEHRAN (Shana) -- The 23 members of the Organization of THE Petroleum Exporting Countries and its allies (OPEC+) agreed at their 28th meeting to add 432,000 barrels to the group’s daily crude oil output in June.
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Owji meets with Iraqi Minister of Electricity
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji and the Minister of Electricity of Iraq emphasized the development of cooperation between the two countries in the oil and gas sector.
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MoU Signed to Finance Oil Depot in Bandar Abbas
TEHRAN (Shana) – A financial memorandum of understanding was signed on Tuesday for construction of Shahid Nader Mahdavi Oil Depot in the southern province of Hormozgan in the presence of Iranian Minister of Petroleum Javad Owji.
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Well No. 22 of Ahvaz Field Complete 11 Days ahead of Plan
TEHRAN (Shana) -- Synergy and cooperation between the specialists of the National Iranian Drilling Company (NIDC) and the National Iranian South Oil Company (NISOC) led to the early implementation of the repair and completion operation of Well No. 22 in the Ahvaz oil field by using Fath 52 Drilling Rig.
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Why $100 a Barrel Could Be Bad for Energy Transition
TEHRAN (Shana) -- With oil costing over $100 a barrel, and Russia’s war in Ukraine underscoring the risk of relying on fossil fuel, it would seem like a great time to speed up shifting from the polluting fuel, Akshat Pathi and Will Mathis write for Bloomberg, noting that the reality isn’t so simple.
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Optimal Use of Flare Gas Envisaged
TEHRAN (Shana) -- Over the past century in Iran, the flaring of associated petroleum gas (APG) has had adverse impacts on the environment and endangered the health of the local community of oil and gas industrial areas. Turning off these flares is a must both economically and is in compliance with international obligations. Therefore, Iranian petrochemical companies have moved to make long-term investment in this sector with a view to ensuring sustainable feedstock supply. A case in point is the Bidboland 2 gas refinery.
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Greenhouse Gas Emissions Falling in NISOC-Run Areas
TEHRAN (Shana) -- Oil companies in Iran are required to curb their greenhouse gas emissions. National Iranian South Oil Company (NISOC), which supplies 80% of Iran’s oil, has adopted a series of measures including gas flaring control, energy loss management and processing supervision to cut greenhouse gas emissions by many affiliated production companies. Mohammad Reza Naderi, head of HSE at NISOC, tells “Iran Petroleum” that production of 33 million tonnes of carbon dioxide could be prevented.
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NPC CEO Invites Russian Firms to Join Petchem Projects in Iran
TEHRAN (Shana) -- The CEO of the National Petrochemical Company considered the feedstock available for the development of the petrochemical industry in Iran as an important advantage, and said: "I invite Russian companies to exploit this suitable opportunity to invest in the Iranian petrochemical industry."
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Connecting to New Export Pipelines, Priority of Refining Industry
TEHRAN (Shana) -- The CEO of the National Iranian Oil Refining and Distribution Company (NIORDC) said: "In addition to stabilizing the capacity of gasoline production, increasing the number of tanks and connecting to the export lines of petroleum products is one of the important programs pursued in the refining industry."
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CEO of Persian Gulf Star Refinery Appointed
TEHRAN (Shana) -- Alireza Jafarpour Boroujeni was appointed as the CEO of the Persian Gulf Star Oil Refinery with the approval of the Board of Directors of the Persian Gulf Star Oil Company.
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FM Spokesman:
Iran Selling Oil in World Markets
TEHRAN (Shana) – The spokesman of the Iranian Ministry of Foreign Affairs said all crude oil allocated to the export sector would be sold in world markets.
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150 KBCs Ready to Join Iran Oil Projects: Owji
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said 150 knowledge-based companies have announced their readiness to cooperate with the oil industry.
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Arash Field Not to Be Developed before Iran-Kuwait Border Demarcation: FM Spokesman
TEHRAN (Shana) -- The spokesman for the Ministry of Foreign Affairs said: "There are undetermined borders between Iran and Kuwait that should be demarcated. The Islamic Republic of Iran has stated that there should be no exploitation in Arash Field before the demarcation."
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600k Barrels Growth in Output of Southern Fields under Raisi
TEHRAN (Shana) – The CEO of the National Iranian South Oil Company (NISOC) said the fields operated by the company have witnessed a 600,000-barrel/day growth in their output under the Raisi administration.
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CEO of CIOFC Appointed
TEHRAN (Shana) – The CEO of the National Iranian Oil Company (NIOC) appointed Mehdi Heidari as the CEO of the Central Iranian Oil Fields Company.