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Iran’s oil minister in Venezuela to expand energy relations
SHANA (Tehran) – Iran’s Oil Minister Javad Owji arrived in Caracas, the capital of Venezuela, to boost ties in the energy sector.
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Oil drops 1% after scaling multi-month highs on OPEC's demand warning
Oil prices fell a dollar a barrel on Thursday, as an OPEC report stoked summer demand worries and traders took profits after benchmarks scaled multi-month highs in the previous session.
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Oil rises 2% on lower-than-expected U.S. inflation data
Oil prices rose 2% on Wednesday as cooling U.S. inflation data spurred hopes that the Federal Reserve is getting closer to ending its cycle of interest rate hikes and cushioned the impact of a small build in U.S. crude oil stocks.
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Spox: Iran oil sector’s annual economic growth up 15.4%
SHANA (Tehran) – The Central Bank of Iran (CBI) report showed a 15.4 percent economic growth in the country’s oil sector in the previous Iranian year, which ended on March 20, 2023, said the administration’s economic spokesman on Tuesday.
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Oil rises on China stimulus expectations, weaker dollar
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude stockpiles.
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OPEC+ surprise output cuts: Reasons and impacts
On October 5, 2022, oil and energy ministers of OPEC and non-OPEC producers, an alliance known as OPEC+, decided to slash oil output by two million barrels per day (bpd) in November and December 2022 in comparison with that of August 2022, extending the cut in their next sessions until the end of 2023.
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Owji: OPEC+ decides to cut output despite U.S. push for hike
SHANA (Tehran) – Iran’s Oil Minister Javad Owji Wednesday said OPEC+ decided to cut its output amid growing pressures from the U.S. for a rise.
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Iran’s former OPEC governor:
OPEC+ output cuts to stabilize oil market
SHANA (Tehran) – Iran’s former OPEC governor said the recent decision OPEC+ made to cut its output will put the brakes on the reduction of oil prices and stabilize the market.
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Raeisi: Oil, gas output up 9% in year to March 2023
SHANA (Tehran) – President Seyyed Ebrahim Raeisi here on Tuesday said Iran’s oil and gas production witnessed a nine percent growth in the past Iranian calendar year, which ended on March 20, 2023.
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Expert cites Saudi-U.S. ties as reason for OPEC+ surprise output cuts
SHANA (Tehran) – Former OPEC affairs head of the Iranian Ministry of Petroleum cited two economic and political factors as main reasons behind the recent OPEC+ surprise decision to cut oil output.
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OPEC+ output cuts aimed at ending U.S. hegemonic energy policies
The collective oil output cut by OPEC+ is a very important decision made by the alliance, as it is, in fact, the big producers’ move toward ending the United States’ hegemonic energy policies.
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48th Meeting of the Joint Ministerial Monitoring Committee
SHANA (Tehran) – The 48th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday, 3 April 2023.
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SeaPad vessel supports 18 South Pars platforms
The SeaPad logistics platform is located 105km off Assaluyeh, which is tasked with providing logistic and operational support to 18 South Pars platforms that totally produce 350 mcm/d gas. Nearly 100 persons work on SeaPad to make sure gas flow from the giant offshore gas reservoir would not halt.
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NIOC head: SP Phase 11 gas production due this year
SHANA (Tehran) – The National Iranian Oil Company (NIOC) managing director here on Wednesday said gas production in South Pars (SP) Phase 11 will begin this year.
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IEA: Iran’s Feb. oil output hit 2.65 mbd, up despite sanctions
SHANA (Tehran) – The latest International Energy Agency (IEA) figures show crude oil production in sanctions-hit Iran reached 2.65 million barrels per day (mbd) in February.
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Sanctions fail to paralyze Iran oil industry
SHANA (Tehran) – Sanctions imposed by the enemy have failed and will fail to paralyze Iran’s largest supplier of energy and foreign currencies – the Ministry of Petroleum.
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NIOC head: $160bn investment needed to raise Iran oil, gas production by 50%
SHANA (Tehran) – The National Iranian Oil Company (NIOC) managing director here on Sunday said a 160-billion-dollar investment is required to increase the country’s oil and production capacities by 50 percent.
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Iran’s Zagros Petrochemical Company among world’s largest methanol producers
SHANA (Assaluyeh) – Zagros Petrochemical Company in southern Iran is among the five largest methanol producers of the world.
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Owji says Iran will set new oil export record this year
SHANA (Tehran) – Oil Minister Javad Owji Friday said that Iran will set a new record in oil exports in the new Iranian calendar year starting Tuesday.
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MP: Iran-Saudi détente to have positive impacts on energy sector
SHANA (Tehran) – The recent agreement between Iran and Saudi Arabia on resumption of diplomatic relations will have positive impacts on energy, economic, and political sectors of West Asia, particularly the Persian Gulf region, said an Iranian lawmaker here on Thursday.
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NPC head: Iran a market for long-term investments
SHANA (Tehran) – The National Petrochemical Company (NPC) managing director said Iran is a market for long-term investments.
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Raeisi: Abadan Refinery Phase 2 launch conveys ‘we can’ message
SHANA (Abadan) – The completion and inauguration of the second phase of Abadan Refinery capacity development and stabilization project are the invaluable manifestation of “we can”, President Ebrahim Raeisi said here on Monday.
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Owji says in Abadan Refinery Phase 2 inauguration ceremony:
Iran self-sufficient in constructing oil, gas refineries
SHANA (Abadan) – Iran has become self-sufficient in constructing oil and gas refineries, said Oil Ministry Javad Owji here on Monday.
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Concurrent with Iran oil industry nationalization anniversary
Raeisi inaugurates Abadan Refinery Phase 2
SHANA (Abadan) – President Ebrahim Raeisi on Monday inaugurated Phase 2 of Abadan Refinery in Khuzestan Province, southwestern Iran, concurrent with the anniversary of nationalization of oil industry.
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Iran’s oil minister statement on stability in global oil market:
Any political, legal interference in energy market a lose-lose game for all players
SHANA (Tehran) – Iran’s minister of petroleum, in a statement, on Sunday put great emphasis on bringing stability to the international energy and oil market.
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Value chain development unit of Persian Gulf Bidboland Gas Refining Company put into operation
SHANA (Tehran) – The value chain development unit of Persian Gulf Bidboland Gas Refining Company became operational.
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IIES head: Iran-Saudi rapprochement contribution to economic, energy sectors a must
SHANA (Tehran) – The head of Iran’s Institute for International Energy Studies (IIES) put great emphasis on contribution of recent political and security agreement between Tehran and Riyadh to economic and energy sectors.
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Iran’s former official at OPEC:
Tehran, Riyadh expected to seize opportunity to boost ties in oil, gas sectors
SHANA (Tehran) – Former OPEC affairs head of the the Iranian Ministry of Petroleum here on Saturday said Tehran and Riyadh are expected to seize the opportunity created after their rapprochement and develop their relations, particularly in oil and gas sectors.