oil

Iran Minister Shrugs off US Sanctions on Key Energy Officials

TEHRAN (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh played down the US Treasury’s move to impose sanctions on him and a number of key Iranian oil and energy officials, saying, “I have no assets or wealth outside of Iran to be subject to the sanctions.”
2020-10-26 22:43
Reconstruction, Renovation Project of Doroud Platforms 80% Complete

TEHRAN (Shana) -- The project of reconstruction and renovation of the platforms of Doroud Field operated by the Iranian Offshore Oil Company (IOOC) in Khark region has reached about 80% progress.
2020-10-24 15:48
Zangeneh Announces Opening Single Channel for Importing Goods thru Oil Exports

TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said President Rouhani had signed off on the Iranian Ministry of Petroleum's proposal to create a single window for the import of goods through oil exports with the aim of speeding up the work.
2020-10-24 13:07
2nd Well in Solabdar Field Productive after 42 Years

TEHRAN (Shana) -- Well No. 4 of Solabdar Oil Field in the operational scope of the National Iranian South Oil Company (NISOC) became operational after 42 years.
2020-10-21 18:19
Refinery Shares Disposal Strikes Shock on TSE

TEHRAN (Shana) -- The Iranian government plans to list the shares of state-run and half state-run companies on the capital market within the framework of privatization. This plan is aimed at strengthening the foundations of social justice with a view to expanding ownership across the country. That would also streamline the government monopoly on the economic sector and therefore the government would be downsized, leading to lower costs and higher economic prosperity.
2020-10-20 14:02
JMMC priority is full conformity By all DoC members

VIENNA (Shana) -- The 23rd Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday, 19 October 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation.
2020-10-19 22:15
45th JTC Meeting Convened

VIENNA (Shana) -- The 45th Meeting of the Joint Technical Committee (JTC) was held via videoconference, in preparation for the 23rd Meeting of the Joint Ministerial Meeting (JMMC) planned for 19 October 2020.
2020-10-15 17:39
GOGPC Fulfills Production Plan in H1

TEHRAN (Shana) -- Gachsaran Oil and Gas Production Company (GOGPC) fulfilled its instructed production plan in the first half of the current calendar year, which began on March 21.
2020-10-10 12:54
ICOFC to Enhance Oil Production from Dehloran Field

TEHRAN (Shana) – The Iranian Central Oil Fields Company has planned to boost the production capacity of Dehloran oil field by the end of the current calendar year to March 2021 with the launch and repair of new wells.
2020-10-10 10:25
OPEC Launches 2020 Edition of World Oil Outlook

VIENNA (Shana) -- The 2020 OPEC World Oil Outlook (WOO) was launched today in Vienna, Austria, providing the OPEC Secretariat’s in-depth look at the unprecedented scale and impact of the COVID-19 pandemic on the global energy and oil markets, an assessment of the medium- and long-term prospects, as well as analysis of various alternative scenarios and sensitivities that have the potential to impact the petroleum industry in the years ahead.
2020-10-08 20:10
Azar Development Project on Verge of Commissioning

TEHRAN (Shana) – The operator of Azar oil field development project said the cumulative output of the project in the early production phase has been above 30 million barrels so far and it is on the verge of full operation with a progress of about 97%.
2020-10-03 16:17
KOGPC Realizes Production Plan in H1

TEHRAN (Shana) -- The CEO of Karoun Oil and Gas Production Company (KOGPC) announced the realization of 101% of the company's crude oil production plan in the first half of the current calendar year, which began on March 21.
2020-09-30 18:00
OPEC Sec. Gen. Sends Condolence Message on Death of Kuwaiti Emir

VIENNA (Shana) – Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammad Sanusi Barkindo sent a letter of condolence on the death of the Kuwaiti Emir.
2020-09-29 23:59
Iran to Boost Hendijan Oil Production Capacity

BUSHEHR (Shana) -- The CEO of the Iranian Offshore Oil Company announced the successful installation of the second 1000-ton platform in the Hendijan offshore field, saying: "Due to the completion of the installation of platforms 07 and 08, the production capacity of this oil field will increase."
2020-09-29 18:06
OPEC Turns 60

Successful Past, Sustainable Future

TEHRAN (Shana) -- In September 1960, the representatives of the five founding members of the Organization of the Petroleum Exporting Countries (OPEC), i.e. Iran, Iraq, Kuwait, Saudi Arabia and Venezuela, held a four-day conference in the Iraqi capital Baghdad. The conference gave rise to OPEC as a permanent intergovernmental organization.
2020-09-29 15:16
British Expropriation

TEHRAN (Shana) -- Less than 10 years after Britain had emerged winner in the World War, Iranians nationalized their petroleum industry. That cost Britain dearly because they had recorded a strong victory in World War II and were gradually imposing their culture and language upon the world through media and economic policies. They were used to moving from country to country and change governments as they wished. They even installed British rulers in some nations. British colonies were rising in number. Relying on its strength, Britain claimed sovereignty over the entire globe. Under such circumstances, the oil nationalization movement called into question Britain’s political authority. The conditions worsened when Britain suffered a legal defeat at the international court of arbitration in the face of Iran. In the meantime, the influence of Iran’s oil nationalization on the Middle East and North Africa led to the formation of scattered small and large movements across the region. All these movements were hostile to British colonialism. Gholam-Reza Nejati, author of The Petroleum Industry Nationalization Movement, writes: “Britain was a world superpower. It was present everywhere. But it had suffered a deadly blow from a third world nation, i.e. Iran. The nationalization movement in Iran served as a model for other nations. Iran’s oil nationalization was the first well-organized anti-colonial movement in the Middle East. That is how Iran became a role model for other countries. Following the oil nationalization in Iran, General Najeeb and General Nasser rose up against the Farouk rule in Egypt and the Suez Canal was nationalized on 26 July 1956.”
2020-09-28 15:08
Adeli: OPEC Politicized by Some Member States

TEHRAN (Shana) -- Mohammad Hossein Adeli, former secretary general of the Gas Exporting Countries Forum (GECF), has said some member states of the Organization of the Petroleum Exporting Countries have politicized the Organization. In an interview, he cites the examples of countries that did not hesitate to compensate for Iranian and Venezuelan share following their US sanctions on the two member states.
2020-09-27 17:42
€4.7bn Oil Projects Inaugurated

TEHRAN (Shana) -- President Hassan Rouhani recently inaugurated through videoconference a project for the development and optimization of gas dispatching center and IGAT-6 and IGAT-9, Phase 1 of the Bushehr Petrochemical Company and the 500-MW West Karoun combined cycle power plant and its related power supply facilities. The total investment made in these three projects stands at €4.7 billion.
2020-09-27 17:40
IOOC Improves Drilling Performance in H1

2020-09-26 16:30
Platform 08 of Hendijan Field Successfully Installed

BUSHEHR (Shana) – Wellhead Platform 08 of Hendijan offshore oilfield was successfully installed for production of 10,000 b/d of oil from the field.
2020-09-22 18:55
22 Oil, Gas Fields under Study by Iran Universities

TEHRAN (Shana) -- The CEO of the National Iranian Oil Company said: "Including the first 9 contracts of the research study plan to enhance oil recovery from oil and gas fields that was previously signed and 13 contracts that were signed in this regard today, a total of 20 oil and 2 gas field technological studies have been awarded to universities and research centers.”
2020-09-21 16:13
Universities Studying 50% of Iran Oil, Gas Reserves

TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the country’s universities and research centers were currently conducting research studies on nearly half of the country’s oil and gas reserves.
2020-09-21 15:09
NIOC Inks Major Oil Research Deal with Local Universities, Research Centers

TEHRAN (Shana) – The National Iranian Oil Company (NIOC) has signed 13 major oil and gas extraction research contracts worth a total of €35 million and Rls. 7,160 billion with 13 Iranian universities and research centers.
2020-09-21 10:43
Iran, 1st in World in Oil and Gas Discovery despite Inequalities: Official

TEHRAN (Shana) -- The National Iranian Oil Company (NIOC) was ranked first in the world in completely unequal conditions due to the imposition of severe sanctions, said an NIOC official.
2020-09-21 10:23
OPEC SG Welcomes Iran FM Deputy

TEHRAN (Shana) -- OPEC SG HE Barkindo today welcomed to the OPEC Secretariat HE Mohsen Baharvand, Deputy Foreign Minister for International and Legal Affairs of the IR Iran and HE Kazem Gharib Abadi, Ambassador and Permanent Representative of the IR Iran to the UN Office at Vienna.
2020-09-19 12:59
JMMC Focuses on Market Stability and Full Conformity

TEHRAN (Shana) -- The 22nd Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Thursday 17 September 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation.
2020-09-19 12:10
Iran Bracing for Full Production at Azar Oilfield

TEHRAN (Shana) -- Azar oil field is on the verge of achieving a production capacity of 65,000 barrels of oil per day by using the ancillary facilities of the Central Processing Facility (CPF).
2020-09-16 17:19
IOTC Builds Expansion Joints for SMBs

TEHRAN (Shana) – Experts at the Iranian Oil Terminals Company (IOTC) have successfully built expansion joints used in Single Buoy Moorings (SBMs).
2020-09-16 17:13
Gas Pars Output 2.5 Times Up in 7 Years

TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said Iran’s gas production from the South Pars gas field has increased by 2.5 times since 2013 from 280 million cubic meters per day to currently 700 mcm/d.
2020-09-15 16:23
60th OPEC Annivesary

OPEC Founders Achievements

TEHRAN (Shana) -- OPEC has turned 60. So long a time. Why was OPEC established? What has it brought to the five founding members?
2020-09-14 17:11