• No Restrictions on Developing Economic Ties with Nicaragua: Owji

    No Restrictions on Developing Economic Ties with Nicaragua: Owji

    TEHRAN (Shana) – The Iranian Minister of Petroleum said: "There are no restrictions for Iran and Nicaragua in developing economic relations."

  • PGPIC CEO Invites Brazilian Firms to Iran Petchem Industry

    PGPIC CEO Invites Brazilian Firms to Iran Petchem Industry

    TEHRAN (Shana) -- The CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) said: "Today, PGPIC has 14 projects under construction with a domestic return price of at least 15%, which is a good opportunity for foreign investment, and in this regard we welcome the investment of Brazilian companies."

  • NIOC CEO Meets with Vice President of Indonesian Parliament

    NIOC CEO Meets with Vice President of Indonesian Parliament

    TEHRAN (Shana) -- Mohsen Khojastehmehr, the CEO of the National Iranian Oil Company, met with an Indonesian delegation headed by the Vice Speaker of the House of Representatives of the Republic of Indonesia for Industry and Development.

  • Owji Inks 8 Agreements in Latin America

    Owji Inks 8 Agreements in Latin America

    TEHRAN (Shana) -- During the Minister of Petroleum's visit to Latin America, four memoranda of understanding, two agreements in the field of oil and two agreements in the field of agriculture were signed.

  • Iran Seeking Expanded Ties in Central America

    Iran Seeking Expanded Ties in Central America

    TEHRAN (Shana) -- During his visit to South and Central America, the Minister of Petroleum met with Nicaraguan President Daniel Ortega and Speaker of the National Assembly of the country.

  • Iran Eyes 14 mcm/d Gas from South Pars Phase 11

    Iran Eyes 14 mcm/d Gas from South Pars Phase 11

    TEHRAN (Shana) -- The director of integrated planning of the National Iranian Oil Company, referring to the goal of producing 220,000 barrels of oil from the South Azadegan joint field by the end of the current calendar year, which began on March 21, said: “By the end of this year, 14 million cubic meters of gas will be extracted daily from phase 11 of South Pars.”

  • Iran Eyes 5.7 mbd Oil Output

    Iran Eyes 5.7 mbd Oil Output

    TEHRAN (Shana) -- The CEO of the National Iranian Oil Company, emphasizing the importance of repairing and renovating the facilities of oil terminals, announced the prospect of the country's crude oil production capacity to 5.7 million barrels per day within the next eight years.

  • Iran-Venezuela Energy Cooperation Capacities Examined

    Iran-Venezuela Energy Cooperation Capacities Examined

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji headed a delegation to Venezuela, where he met with senior Venezuelan officials to emphasize development of Tehran-Caracas relations, especially in the field of energy.

  • Venezuelan President Stresses Need to Deepen Tehran-Caracas Energy Ties

    Venezuelan President Stresses Need to Deepen Tehran-Caracas Energy Ties

    TEHRAN (Shana) -- "It was a constructive meeting to deepen brotherhood ties and energy cooperation," the Venezuelan president wrote about his meeting with the Iranian Minister of Petroleum during the Iranian delegation's visit to Caracas.

  • Iran Keen on Tapping Capacity of Iran-Venezuela Ties: Owji

    Iran Keen on Tapping Capacity of Iran-Venezuela Ties: Owji

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said in his twitter account: "We want to use all our capacities to develop bilateral relations and cooperation.”

  • OPEC+ Meeting

    OPEC+ Meeting

    TEHRAN (Shana) -- The meeting of the oil and energy ministers of OPEC+ countries was held on Thursday, May 5, via videoconference. The group decided to raise production targets by 432,000 barrels per day for next month, sticking to an existing strategy of gradually unwinding record supply cuts.

  • 28th OPEC and non-OPEC Ministerial Meeting

    28th OPEC and non-OPEC Ministerial Meeting

    TEHRAN (Shana) -- Following the conclusion of the 28th OPEC and non-OPEC Ministerial Meeting, held via videoconference on 5th May, it was noted that continuing oil market fundamentals and the consensus on the outlook pointed to a balanced market. It further noted the continuing effects of geopolitical factors and issues related to the ongoing pandemic.

  • OPEC+ Sticks to Output Growth Plan for June

    OPEC+ Sticks to Output Growth Plan for June

    TEHRAN (Shana) -- The 23 members of the Organization of THE Petroleum Exporting Countries and its allies (OPEC+) agreed at their 28th meeting to add 432,000 barrels to the group’s daily crude oil output in June.

  • Bu Ali Sina Petchem Plant Breaks Production Record

    Bu Ali Sina Petchem Plant Breaks Production Record

    TEHRAN (Shana) -- Production of Bu Ali Sina Petrochemical Company in the calendar year of 1400, which ended on March 20, saw a 32% increase compared to the previous year, and reached 110% of the company’s nameplate capacity to 1,890,000 tons.

  • Amirkabir Petchem Plant Breaks Production Record

    Amirkabir Petchem Plant Breaks Production Record

    TEHRAN (Shana) – During the calendar year of 1400 which ended on March 20, Amirkabir Petrochemical Company was able to set a new record in recent years in key performance indicators such as total production, production of polymer products and production of ethylene.

  • New LDPE Output Record of Bandar Emam Petchem Plant

    New LDPE Output Record of Bandar Emam Petchem Plant

    TEHRAN (Shana) -- The low density polyethylene (LDPE) unit of Bandar Emam Petrochemical Plant broke production record of the item during the calendar year of 1400 which ended on March 20.

  • Owji hosts Meeting with Iraqi Minister of Electricity

    Owji hosts Meeting with Iraqi Minister of Electricity

    TEHRAN (Shana) -- Iranian Minister of Petroleum Javad Owji hosted a meeting with the visiting Iraqi Minister of Electricity in Tehran on Wednesday.

  • Owji meets with Iraqi Minister of Electricity

    Owji meets with Iraqi Minister of Electricity

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji and the Minister of Electricity of Iraq emphasized the development of cooperation between the two countries in the oil and gas sector.

  • MoU Signed to Finance Oil Depot in Bandar Abbas

    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.

  • Well No. 22 of Ahvaz Field Complete 11 Days ahead of Plan

    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.

  • Flare Gas Capture Set to Culminate

    Flare Gas Capture Set to Culminate

    TEHRAN (Shana) -- Recently, Minister of Petroleum Javad Owji oversaw the signing of eight contracts for gas gathering east of the Karoun River. The minister said then that flare gas gathering projects would be completed before the 13th administration bows out.

  • Why $100 a Barrel Could Be Bad for Energy Transition

    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.

  • Iran, an Influential Gas Exporter

    NIGC CEO:

    Iran, an Influential Gas Exporter

    TEHRAN (Shana) -- Gas production in Iran and supplying consumer and stakeholder needs inside and outside Iran has opened new horizons in the Iranian gas industry. To that effect, Iran has extensive plans in coming years to export gas to regional nations. A case in point is Iran’s gas swap deal with Turkmenistan and Azerbaijan, which is considered important by National Iranian Gas Company (NIGC). Majid Chegeni, CEO of NIGC, tells “Iran Petroleum” that a variety of scenarios are being planned for Iran to enhance its share of global gas trading with a view to getting a significant share in the world energy mix. 

  • Value-Added, Top Petchem Priority

    Value-Added, Top Petchem Priority

    TEHRAN (Shana) -- By 2040, the annual market demand for petrochemicals and polymer products will be growing by 4.5 percent, while annual demand for petroleum products will be growing by less than 1 percent, indicating the importance of investing in and focusing on this value-added industry.

  • Optimal Use of Flare Gas Envisaged

    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.

  • Energy Transition: Fact from Fiction

    Energy Transition: Fact from Fiction

    TEHRAN (Shana) -- Modern history is totally acquainted with energy shocks, shortages, price hikes and panics on the buyers’ side and on the sellers’ side as well. But the current worldwide rising energy prices and large scale volatility for all key fuels and sources, is something entirely new and never experienced before. It is in fact puzzling in a way that no game theorists and econometricians could cope with and accommodate it. From Colorado minus $40 a barrel to plus $ 95 per barrel early February 2022 is something never seen before. This is a challenge to the consumers, suppliers, governments, bankers and societies everywhere.

  • Greenhouse Gas Emissions Falling in NISOC-Run Areas

    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.

  • NPC CEO Invites Russian Firms to Join Petchem Projects in Iran

    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."

  • Connecting to New Export Pipelines, Priority of Refining Industry

    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."

  • CEO of Persian Gulf Star Refinery Appointed

    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.