oil
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E1P6 Well of Esfand Fields Productive
TEHRAN (Shana) -- The SIE-E1P6 well of Esfand offshore oilfield was put into operation with an approximate 2,000 b/d of crude oil production capacity.
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Oil Facilities Operating Normally despite Quake
TEHRAN (Shana) -- The oil and gas facilities of the National Iranian Oil Company are operating normally and their condition is stable despite a 5.9-magnitude earthquake that hit southern Iran on Sunday, April 18, 2021.
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Non-State Oil Industry Research, Technology Fund signs Deals
TEHRAN (Shana) -- The Non-State Oil Industry Research and Technology Fund has signed two contracts for guaranteed purchases and two contracts for venture capital.
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Maroun Oil/Gas Co. Lifts Output
TEHRAN (Shana) -- Enhancing oil production against the backdrop of oil fields’ complexities has always been a major issue of concern for operating companies, sometimes proving costly. The three oil fields - Maroun, Kupal and Shadegan- in southern Iran are among oil fields where oil and condensate production is complicated. Maroun Oil and Gas Production Company (MOGPC) is tasked with oil and condensate production from the three fields.
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Persian Gulf Star Refinery Rejuvenates Iran Oil Industry
TEHRAN (Shana) -- Iran was importing gasoline until two years ago. In 2018, Iran imported up to 4.5 ml/d of gasoline. It is now exporting gasoline to regional and world nations. In light of the commissioning of the Bandar Abbas Condensate Refinery, known as the Persian Gulf Star, Iran became an active exporter of this strategic product during the first seven months of the current calendar year, earning about $1.4 billion in revenue. This report reviews the current condition of gasoline export and diversity in refined petroleum products supplied by the treatment facility.
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Production Costs Trend as Oil Age Ends
TEHRAN (Shana) -- Crude oil extraction and production cost is an effective factor in oil pricing. Such costs vary from one spot to another, depending on the size and availability of oil reserves. Although most oil companies are unwilling to release precise data about oil production costs.However, estimates about costs of extracting oil from active fields in various countries are available. Comparing these costs would be key to analyzing the future of world oil markets. This data would show which countries can keep producing oil, even though in periods when prices keep falling. This issue takes up added significance in light of significant reduction in oil prices over recent years.
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Iran OPEC Boss Meets Sec. Gen. Barkindo
VIENNA (Shana) – Iran’s OPEC Governor Amir Hossein Zamaninia met with HE Mohammad Sanusi Barkindo, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), in Vienna on Thursday to discuss ideas concerning Iran’s return to the global oil market.
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Refining Industry Shines in 1399
TEHRAN (Shana) -- The calendar year of 1399 (which ended on March 20) can be called the year of the country's refining industry with the fourfold growth of oil products exports and Iran's joining the gasoline exporters club.
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15th OPEC+ Meeting Kicks Off Online
TEHRAN (Shana) -- The 15th meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a grouping called OPEC+, began a few minutes ago via video conference.
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DoC Joint Technical Committee Convenes 50th Meeting
VIENNA (Shana) -- The Joint Technical Committee (JTC) held its 50th meeting via videoconference to examine oil market developments and related trends.
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Iran Oil Documents Declassified
TEHRAN (Shana) -- Documents and artefacts are the main items in the Petroleum Industry Directorate of Museums and Documents. They are instrumental in preserving the history of Iran’s petroleum industry. The Directorate started work effectively in 2014 and has since gathered documents, audiovisual and written references as well as artefacts and old items and tools. In this newly-established center, regulations and protocols including identification, gathering, restoration, preservation and documentation for prospective use by researchers, students and professors have been highly respected.
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China Silent on Yadavaran Phase 2 Development
TEHRAN (Shana) -- The manager of Yadavaran oil field development has said that the Chinese have not presented any suggestions for the second phase development of the Yadavaran field. He said that the production capacity of this field had increased in the past one year, but the Chinese had not offered any plans for the project. He said Iran would not wait for the Chinese to develop the second phase of this field.
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Iran Prepared to Return to World Oil Markets: CEO
TEHRAN (Shana) -- The CEO of the National Iranian South Oil Company (NISOC) said Iran is prepared the return to the global oil markets given enhancement of oil production in the company.
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3-Phase Oil Separator Tank Localized
TEHRAN (Shana) -- The three-phase oil separator tank has been localized by the Iranian Central Oil Fields Company.
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Wells Secured in Nowruz Offshore Field
TEHRAN (Shana) -- The final safety operation of the erupted wells No. 5, 6, 7 and 8 in Nowruz offshore field was successfully performed by the diving teams of Khark Underwater Repairs.
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Project to Enhance/Maintain Productivity of Zilaei Field Online
TEHRAN (Shana) -- The executive operation of a plan to maintain and enhance production of the Zeilei Field has kicked off.
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Is Brent Crude Headed Towards $100 a Barrel?
TEHRAN (Shana) -- Since early December crude oil prices have staged an impressive comeback. Brent crude price has shot up from $40 a barrel in early December to $67.20 on 25 February 2021. The question is how high oil prices are destined to go this year and next.
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Biden and Future of Nord Stream 2
TEHRAN (Shana) -- The United States implemented its annual budget bill as the year 2021 started. It includes expansion of sanctions against the Nord Stream 2 gas pipeline.
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Azar Field Output at 65,000 b/d
TEHRAN (Shana) -- Iran invested over $1.4 billion in the jointly-owned Azar oil field despite US sanctions to lift oil output from this field to 71,500 b/d and that of gas to 78 mcf/d of Azar, containing both oil and gas, is one of the most challenging petroleum industry projects in Iran.
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Biggest Oil/Gas Opportunity in Iran
TEHRAN (Shana) -- Oil sanctions against Iran remain effective. But the country says it would export 2.3 mb/d of oil and condensate this year. Many experts believe that Iran’s return to the oil market is unlikely to cause any shock.
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14th OPEC+ Meeting Begins
TEHRAN (Shana) -- The 14th meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) began a few minutes ago.
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DoC JTC Discusses Oil Market Developments
VIENNA (Shana) -- The Joint Technical Committee (JTC) held its 49th meeting via videoconference in preparation for the 27th Meeting of the Joint Ministerial Monitoring Committee (JMMC) and the 14th OPEC and non-OPEC Ministerial Meeting (ONOMM) scheduled for Wednesday, 3 March 2021, and Thursday, 4 March 2021, respectively.
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Petchem Industry, Helpful under Sanctions: Rouhani
TEHRAN (Shana) – Iranian President Hassan Rouhani said: "During these years of economic warfare and sanctions, one of the places that came to our aid was the petrochemical industry."
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Minister Rejoices over Iran Activities in Joint Oil Fields
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said Iran’s current status in joint oil and gas fields is favorable, saying the country is currently producing 400,000 barrels per day of crude oil in the West Karoun Oilfields Cluster.
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Total Oil Output of Azar Joint Field at 36mb
TEHRAN (Shana) – Iran has so far produced over 36 million barrels of crude oil from Azar join oilfield, the executor of Azar Field’s development project announced.
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Rouhani Launches Azar Oil Field Development Plan
TEHRAN (Shana) – Iranian President Hassan Rouhani signed off on commissioning Azar oil field development project with a daily production capacity of 65,000 barrels of crude oil.
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Rouhani to Launch Azar Oil Field Development Plan
TEHRAN (Shana) -- The Azar oil field development project with a daily production capacity of 65,000 barrels of crude oil will be put into operation on Monday, February 29, 2021, in the presence of Iranian President Hassan Rouhani via video conference.
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OPEC’s 8th International Seminar Postponed to 29-30 June 2022
TEHRAN (Shana) -- The Organization of the Petroleum Exporting Countries (OPEC) has postponed its 8th International Seminar until next year due to the COVID-19 pandemic. The Seminar, originally scheduled for 16-17 June 2021, will now be held on 29-30 June 2022 at the Hofburg Imperial Palace in Vienna, Austria.
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Golden Days for Iran Refining
TEHRAN (Shana) -- The coronavirus has given our planet a new chance to breathe. Travel rates have dropped sharply. Demand for oil and petroleum products has been falling since the outbreak of the pandemic. Oil wells and refineries across the globe are shutting down one after another. Despite the historic OPEC+ agreement for oil production cut, oil price slump has not stopped. However, there is no sign of increased demand for oil and petroleum products in the market.
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Key Drilling Item Localized
TEHRAN (Shana) -- A basic functional part in the drilling rig lifting equipment set was localized and operationalized in a joint venture between the specialists of the National Iranian Drilling Company and the Islamic Azad University of Ahvaz.