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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.
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NPC head: Iran now among exporters of petrochemical technologies
SHANA (Tehran) – Iran is now among the exporters of petrochemical technologies, said the managing director of the country’s National Petrochemical Company (NPC).
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Senior expert in energy economics:
Iran-Saudi agreement most important geopolitical event in Middle East
SHANA (Tehran) – A senior expert in energy economics described the March 12 agreement between Iran and Saudi Arabia [on the restoration of diplomatic relations] as the most important event in the Middle East in recent years and the most effective development for OPEC and global oil market in 2023.
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Minister: Abadan petro-refinery with 210,000 bpd production capacity to come on stream within days
SHANA (Tehran) – A petro-refinery in Abadan, southwestern Iran, having a production capacity of 210,000 barrels per day (bpd) will become operational within days, said Oil Minister Javad Owji here on Wednesday.
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Second-stage contracts signed to revive Iran low-yield wells by using homegrown tech
SHANA (Tehran) – The second stage of reviving Iran’s low-yield wells got the go-ahead, as the Petroleum Industry Innotech Park head representing the National Iranian Oil Company and the representative of four knowledge-based companies inked the contracts here on Tuesday.
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CBI: Oil and gas sector posts highest industrial growth in autumn
SHANA (Tehran) – The latest report of the Central Bank of Iran (CBI) showed that the country’s oil and sector witnessed the highest economic growth in autumn and the first nine months of the current Iranian calendar year 1401, which started on March 21, 2022.
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Iran’s former OPEC governor:
Iran-Saudi agreement to stabilize global oil market
SHANA (Tehran) – Iran’s former OPEC governor is convinced that Iran-Saudi rapprochement will be to the advantage of crude oil importers and exporters of the Middle East and could stabilize global oil market.
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Oil, condensate CDs worth $6m traded in IRENEX on first day
SHANA (Tehran) – The managing director of Iran Energy Exchange (IRENEX) here on Monday announced that the first-day transactions of certificates of deposit (CDs) of crude oil and gas condensates were valued at some six million dollars.
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CEO: Annual South Pars LPG production up 42%
SHANA (Tehran) – The managing director of the South Pars Gas Complex (SPGC) on Monday announced a 42 percent increase in the annual production of liquefied petroleum gas (LPG).
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MP: Expansion of world energy powers’ ties effective in developing global economy
SHANA (Tehran) – The expansion of relations between the world’s energy powers such as Iran, Russia, and Saudi Arabia plays an effective role in developing global economy, said a member of the Iranian Parliament National Security and Foreign Policy Committee.
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Minister: Oil, condensate prices offered in IRENEX same for domestic, foreign purchasers
TEHRAN (Shana) – Oil Minister Javad Owji here on Sunday announced that the prices of crude oil and gas condensates sold to foreign clients in Iran Energy Exchange (IRENEX) within a certain time are also offered to domestic purchasers.
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West African delegation visits Pars Special Economic Energy Zone
TEHRAN (Shana) – A high-ranking trade delegation from West Africa paid a visit to Pars Special Economic Energy Zone (PSEEZ).
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Iran starts offering oil, gas condensate certificates of deposit
TEHRAN (Shana) – Transactions of crude oil and gas condensate certificates of deposit in Iran Energy Exchange (IRENEX) started here on Sunday.
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On the sidelines of Iran Oil Show:
Iran-Russia commission to hold B2B meetings in May
TEHRAN (Shana) – Iran-Russia Joint Economic Commission will hold business-to-business (B2B) meetings here in May.
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Owji talks of good deals with China, record sour gas output, SP Phase 11 launch
TEHRAN (Shana) – Iran’s oil minister on Saturday talked of good agreements with giant Chinese companies, record annual production of sour gas, and launch of Phase 11 of South Pars (SP) gas field.
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Iran’s exploration chief: Seismographic surveys ‘unprecedented’ in 20 years
TEHRAN (Shana) – The exploration director of the National Iranian Oil Company (NIOC) said seismographic operations reached an “unprecedented” level in over a one-year period when compared with those in the past 20 years.
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West African delegation visits Oil and Gas Industry Innovation and Technology Park
TEHRAN (Shana) – A high-ranking trade delegation from West Africa paid a visit to Iran’s Oil and Gas Industry Innovation and Technology Park.
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NIOC official: Iran to stun world with exploration know-how
TEHRAN (Shana) – Iran will soon astonish the world by displaying its exploration expertise, vowed a National Iranian Oil Company (NIOC) official here on Tuesday.
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Ghadir Petrochemical Company Breaks 15-Year Output Record
TEHRAN (Shana) -- Ghadir Petrochemical Company has broken a 15-year production record, according to a statement released by the company.
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Iran Self-Sufficient in Car Seat Foam Production
TEHRAN (Shana) -- Karun Petrochemical Company has made Iran self-sufficient in the production of the raw materials needed for production of the foam used in car seats.
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Inauguration of Most Iranian South Pars Phase, Soon
TEHRAN (Shana) -- A spokesman for the administration said that during the president’s visit to Bushehr, Phase 14 of South Pars Joint Gas Field, touted as the most-Iranian-made phase of the massive field, would be officially inaugurated.
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3 Oil Field Development Projects Due Soon
TEHRAN (Shana) -- National Iranian South Oil Company (NISOC)’s plan to develop 28 reservoirs, with the focus being on output preservation and enhancement, is accelerating. Ali Reza Daneshi, CEO of NISOC, said that obstacles in the way of development of the 28 reservoirs, including contractors’ supply of commodities and payment issue, have been taken into consideration. He expressed hope that the Nargesi, Kaboud and Lali Asmari fields would have been developed by March 2023.
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Transition to New Order in Oil Market?
TEHRAN (Shana) -- The Iranian Petroleum Ministry’s Directorate of OPEC and Int’l Energy Fora has analyzed the oil market to conclude that last year’s developments gave rise to a new tug-of-war, which will soon result in a new balance of forces. In the new order envisaged for the oil market, Western governments will see their monopoly decline on the oil market which would turn into a regional market with a lower level of integration. However, the trans-Atlantic energy market between North America and Europe is projected to show further integration.
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2022 Oil Market Review and 2023 Forecast
TEHRAN (Shana) -- As the international oil market warms up for 2023 let’s take a look at major events that had immense impact on the world oil markets in 2022. The global energy market was just done with Pandemic that hit demand in early 2020 jeopardizing the supply chain most severely. Producing countries need to be praised and acknowledged for the wonderful job of adjusting skillfully with the demand destruction leading to a swift balance in the market. However, early in 2022 the international oil and energy market was confronted with a severe blow when the Russian conflict with Ukraine broke out on 24 February 2022.
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South Pars Gas Output at 705mcm/d
TEHRAN (Shana) -- Gas recovery from the giant South Pars offshore gas field, which Iran shares with Qatar, has reached 705 mcm/d. Minister of Petroleum Javad Owji has said natural gas consumption by domestic and business sectors has increased 60 mcm/d year-on-year. A review of Iran’s gas consumption through the 1986-2016 period indicates a 10% growth in gas consumption, which requires renewed production to head off any shortages in cold months. That is why efforts are under way to reverse the upward trend in gas consumption.
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Gas, Iran Bargaining Chip
TEHRAN (Shana) -- Iran's gas export and equations for the transfer of theclean energy to its neighboring countries is a program that is being pursued more and more by the PetroleumMinistry. In the latest move, Iran's Minister of Petroleum Javad Owji has held intensive negotiations with senior Turkish officials to extend the gas and energy trade agreement, which seems to be a very important issue in the economic relations between the two countries.
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Iran 11-Month Petchem Exports hit $15b
TEHRAN (Shana) -- The director of planning and development of the National Petrochemical Company (NPC) announced the export of $15 billion of petrochemicals in first 11 months of the current Iranian calendar year which began on March 21.
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Phase-2 of Assaluyeh Petrochemical Green Tanks Compony Nears Startup
TEHRAN (Shana) -- The CEO of Assaluyeh Petrochemical Green Tanks Compony said the investment made in the first and second phases has reached more than $350 million.
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Winners of 9th Petchem Industry Excellence Award Announced
TEHRAN (Shana) -- The 9th Petrochemical Industry Excellence Award was held with the slogan "Knowledge-oriented, excellence, sustainable development" with the introduction of top companies.
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Jask Oil Terminal Guarantees Continued Oil Exports: Official
TEHRAN (Shana) -- The head of the Iran Oil Terminals Company (IOTC) said: “Jask Oil Terminal, as a national and strategic project under the management of the administration and the leadership of the National Iranian Oil Company (NIOC) in the Sea of Oman, guarantees the continuation of crude oil exports, decentralization in the field of oil exports, and increased bargaining power and job creation.”