oil
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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.
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MOGC Fully Realizes Production Plan
TEHRAN (Shana) -- The CEO of Maroon Oil and Gas Production Company announced the 100% fulfillment of the company's production plan for the calendar year of 1400 which ended on March 20.
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IOOC Plans to Enhance Output
TEHRAN (Shana) -- The CEO of the Iranian Offshore Oil Company (IOOC) outlined the company's significant steps to increase oil production capacity from Iran's offshore fields in the Persian Gulf and restore production capacity to before the sanctions.
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Iran Gas Industry, Dormant Giant: Expert
TEHRAN (Shana) – A senior expert in energy economics says that the world looks at Iran's gas industry as a dormant giant and is aware of its capabilities in the field of gas and oil. "Good management and governance in the energy sector always requires avoiding haste," he said.
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Min. Says Methods of Selling Oil, not to be Disclosed
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said the methods through which his ministry sold crude oil and gas condensate could not be disclosed, adding the ministry has fulfilled its budget obligations by 110% during the previous Iranian calendar year which ended on March 20.
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Iran's Crude Oil Production Capacity at Pre-Sanctions Levels: Min.
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said the current capacity of oil production in Iran has exceeded 3.8 million barrels per day, reaching the pre-sanctions levels.
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NIOC Eyes 4mbd Crude Oil Output in 2022
TEHRAN (Shana) -- The CEO of the National Iranian Oil Company (NIOC) announced the prospect of a daily production capacity of 4 million barrels of crude oil in the calendar year of 1401 which began on March 21.
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Iran Fully Receives Oil Money: Min.
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said: “The enemy is trying to prevent a jump in Iran's oil exports by seizing our ships. …We took oil to places that the Americans would not even think of.”
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MOP not sitting out Nuclear Talks: Min.
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said the ministry was not kept waiting for the outcome of the nuclear talks in Vienna and was progressing activities in the oil industry by relying on domestic experts and capabilities.
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MOU Signed for Phase II of Masjed Soleyman Oilfield Development
TEHRAN (Shana) -- The CEO of Petroleum Engineering and Development Company (PEDEC) announced signing of the Memorandum of Understanding for the second phase of Masjed Soleyman oil field development project.
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Production Capacity of Danan Field Enhanced
TEHRAN (Shana) – The CEO of Iranian Central Oil Fields Company (ICOFC) said three new wells have come online since late February at Danan Oilfield which have added 5,000 barrels per day to the field’s production capacity.
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NITC Orders 113,000-ton Tanker to Local Builders
TEHRAN (Shana) -- The CEO of the National Iranian Tanker Company (NITC) announced that his company has ordered construction of an Aframax tanker to domestic companies.
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Iran-Russia to Bolster Energy Ties
TEHRAN (Shana) -- The Iranian Deputy Minister of Petroleum for International Affairs and Trade said: "Iran and Russia, with the cooperation of each other and some other major countries, can figure out new equations in the field of international economy."
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US Fueling Oil Price Tensions Seeking New Energy Strategy: Expert
TEHRAN (Shana) -- Explaining the latest developments in the oil market, the Director General of OPEC and Relations with Energy Communities Department of the Ministry of Petroleum said: "The United States is trying to change the strategy of new energies and save the use of these energies by fueling oil price tensions."
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Future of Iran in Energy Market Hinged on Understanding Trends
TEHRAN (Shana) -- The caretaker of the Institute for International Energy Studies (IIES), stating that the purpose of IIES is to become a think tank, stressed that the future of Iran in the energy market requires an understanding of trends.
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$18b Allocated to New Refining Projects
TEHRAN (Shana) -- The CEO of the National Iranian Oil Engineering and Construction Company announced the allocation of $18 billion to the development of new refining projects under the Raisi administration.
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Rising oil prices, Chance for Iran to retake Market Share
TEHRAN (Shana) -- The chairman of the board of the Iranian Oil, Gas and Petrochemical Union believes that the increase in energy prices could provide a great opportunity for Iran to return to world oil markets.