Iran
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IOTC at Forefront of Economic War on Iran Oil Industry
TEHRAN (Shana) -- Iranian Oil Terminals Company (IOTC) is at the forefront of the country's economic battle, and its operations management staff, along with other departments, have shone brightly under the sanctions, said the IOTC caretaker.
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NISOC inks MoU with Basra Oil Company
TEHRAN (Shana) – National Iranian South Oil Company (NISOC) signed a memorandum of cooperation on the sidelines of the 13th Khuzestan Oil Industry Equipment Manufacturing Exhibition with Basra Oil Company (BOC).
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PSEEZ Accounting for 1/3 of Iran Hard Currency Generation
TEHRAN (Shana) -- The CEO of the Pars Special Economic Energy Zone (PSEEZ) stated that more than one-third of the country's hard currency income is provided by the Zone, and said: “More than $11 billion was exported from this region in the first 10 months of the current Iranian calendar year which began on March 21, which has increased by about 50% compared to the same period last year.
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AOGC signs 6 Cooperation MoUs, 3 Contracts
TEHRAN (Shana) -- Arvandan Oil and Gas Company (AOGC) signed 6 cooperation memoranda of understanding (MOU) and 3 contracts on the 3rd day of the 13th Ahvaz Oil Industry Equipment Manufacturing Exhibition.
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Showcase of Newly-Built Oil Items Kicks off
TEHRAN (Shana) -- The exhibition of knowledge-based equipment and oil industry items built domestically for the first time was inaugurated in the presence of the chairman of the board of directors of the Oil Industry Pension Funds.
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$1.2b of oil revenue deposited in NIMA System since Dec. 22
TEHRAN (Shana) -- The economic spokesman of the administration said since December 22, a total of $6.2 billion of hard currency has been offered in the NIMA system, of which $1.2 billion is from the sale of crude oil and $1.7 billion from petrochemical sales.
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Most Iran-made South Pars Refinery to Startup Soon
TEHRAN (Shana) – The CEO of the National Iranian Oil Company (NIOC), emphasizing that the most Iranian-made South Pars refinery is about to be launched in phase-14 of the massive offshore gas field.
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Number of KBCs Double in Khuzestan Oil Exhibition
TEHRAN (Shana) -- The CEO of Arvandan Oil and Gas Company said the number of knowledge-based companies in the 13th specialized exhibition of Khuzestan oil industry equipment manufacturing has doubled since the last edition of the fair.
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Iran Potential Oil Output at 7.4mbd: Economist
TEHRAN (Shana) -- The head of the economic group of the Supreme Leader's Office stated that Iran has the ability to reach the crude oil daily production capacity of 7.4 million barrels, saying: “We are an oil country, we cannot lag behind the countries that are planning to increase their production capacity.”
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Tehran, Caracas should Implement Energy MOUs: FM
TEHRAN (Shana) – The Iranian Minister of Foreign Affairs emphasized the development and strengthening of cooperation with Venezuela, especially implementation of understandings in the field of energy.
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98% of Petchem Catalysts Supplied Domestically: CEO
TEHRAN (Shana) -- The CEO of the Petrochemical Research and Technology Company (PRTC) announced that 98% of the catalysts of the oil industry are produced by reliable domestic companies, adding: “Iranian catalysts are currently being exported to countries in the region and are being successfully used in complexes.”
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Iranian Catalysts Excel European Ones
TEHRAN (Shana) -- The CEO of the National Petrochemical Company (NPC) underlined the export of Iranian catalysts to Russia, and said: “Iranian catalysts have excelled the European ones.”
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PRTC Unveils Technological Achievements
TEHRAN (Shana) – The Petrochemical Research and Technology Company (PRTC) has unveiled five research and technological achievements it has garnered recently on the occasion of the anniversary of the victory of the Islamic Revolution.
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South Pars Output hits 2mt in 10 Months
TEHRAN (Shana) – The CEO of South Pars Gas Complex announced that since the beginning of the current Iranian calendar year which began on March 21, more than 165.32 billion cubic meters of gas has been produced in South Pars joint gas field.
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Iran launched $3b Oil Projects in South
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji announced the exploitation and the start of executive operations of nearly $3 billion of oil project in the southern province of Hormuzgan.
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Iran Joins Club of Sponge Coke Producers
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said Iran has joined the 6 countries that possess the know-how of producing sponge coke in the world.
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Export/Import Terminal of Shahid Rajaei Port Launched
TEHRAN (Shana) -- Sepahan Oil Company's export and import terminal of Shahid Rajaei Port was put into operation on Saturday by video conference with the order of the Minister of Petroleum.
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Iran Hard Currency Reserves Reliable: President
TEHRAN (Shana) -- The President said: “I assure the people and economic activists that we have good and reliable hard currency reserves and the money from the sale of oil returns to the country.”
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South Pars Phase-14 Refinery Online During Fajr Decade
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said South Pars Phase-14 refinery will be put into operation in the Fajr decade and will process 56 to 60 million cubic meters of gas daily.
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Mothballed Oil Wells Rehabilitation
TEHRAN (Shana) -- National Iranien Oil Company (NIOC) has long focused on developing technologies to enhance recovery from oil wells. Although sanctions have posed an obstacle in its way, it aims to cut short the way to its objective by embarking on a quick-yielding project for the rehabilitation of low-output and abandoned wells. In this manner, by spending much less than drilling new wells, NIOC would be able to enhance its crude oil output. Without enhancing oil output, no future may be envisaged for enhanced oil recovery (EOR) projects. Therefore, the important thing would be to enhance production in any possible manner. Internationally speaking, more oil production would empower Iran to become more influential in the oil market while remaining resilient to challenges and restrictions because in the economic and political structure of the world energy, oil barrels have the final say.
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Iran Hydrocarbon Reserves Estimated at 16 BBL
TEHRAN (Shana) -- The director of exploration at National Iranian Oil Company (NIOC), Mehdi Fakour, has said that Iran was estimated to sit atop 16 billion barrels of hydrocarbon reserves.
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18 Processing Units at Abadan Refinery
TEHRAN (Shana) -- Being the first oil refinery in the Middle East set up more than 110 years ago, Abadan oil refinery is considered one of Iran’s refining hubs, but due to the dilapidation of some of its units, its renovation and updating using modern technology is inevitable. For this purpose, replacement and renovation of the refinery was carried out in two stages, the first stage with the construction of a new refining complex of 150,000 b/d as phase 1 in 2005 and the second stage with the construction of a new refining complex with a capacity of 210,000 b/d under the title of Abadan Refinery Capacity Development and Stabilization Plan as Phase 2 started in July 2017 and the first part of it was put into operation in December. Therefore, the final capacity of the refinery was stabilized at 360,000 b/d.
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Investment in Crude Oil Storage Capacity
TEHRAN (Shana) -- A meeting was held to introduce opportunities for investment in crude oil storage tanks construction and operation, required by National Iranian Oil Company (NIOC), within the framework of public-private partnership (PPP). This is the first time the private sector is given the chance for investment in the crude oil storage sector. NIOC intends to enhance its crude oil storage capacity by 7.7 million barrels.
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SP14 Refinery Close to Operation
TEHRAN (Shana) -- The refinery of Phase 14 of the giant offshore South Pars gas field is almost coming online. With the completion of this megaproject, which has been operated only by Iranians, all South Pars refineries would have become operational. The offshore section of this project came on-stream in 2019 with a current output of 56 mcm/d of rich gas. Over the past one year, three trains of gas sweetening have become operational at this refinery, which sets a record. The onshore section of this project has been invested $5.2 billion in.
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Will 2023 See Oil Market Prosper?
TEHRAN (Shana) -- With the beginning of 2023, the developments of the oil market in 2022 and the perspective of the New Year have been reviewed. The idea is to examine the factors affecting the market. It must be acknowledged that 2022 experienced ups and downs in the oil market and profound changes have taken place in this market. These developments have caused the 2023 Outlook to have many uncertainties, and as a result, many reputable institutions have doubts in their forecasts, and most institutions are waiting for market stability.
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GECF to Supply 74% of Global Gas by 2050
TEHRAN (Shana) -- The Gas Exporting Countries Forum (GECF) expects 74% of the world's natural gas production by 2050 to be provided by new projects that will start in the future.
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Iran can cooperate with Algeria in Oil, Gas Studies: Speaker
TEHRAN (Shana) -- The Speaker of the Iranian Parliament said: “Iran and Algeria have the possibility to cooperate in the field of knowledge-based issues and infrastructure and energy studies, especially oil and gas.”
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Bidboland Refinery Processes Nearly 4 bcm in 9 Months
TEHRAN (Shana) -- The CEO of Bidboland Gas Refining Company announced that from the beginning of the current Iranian calendar year which began on March 21, processed more than 3.9 billion cubic meters of gas.
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South Pars Condensate Output at 700kb/d
TEHRAN (Shana) -- The head of production coordination and supervision of South Pars Gas Complex (SPGC) said SPGC is currently producing over 700,000 barrels of gas condensate and exports 480,000 tons/year of sulfur to east Asia.
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Iran Annual Gas Consumption beyond 228 bcm
TEHRAN (Shana) -- The director of coordination of gas supply of National Iranian Gas Company (NIGC) said Iran’s annual gas consumption is over 228 billion cubic meters of which 70% is consumed in the industrial sector.