Oil Industry
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The US is Loser in Imposing Sanctions on Iran
TEHRAN (Shana) -- The head of "Committee for Developing Iran’s Economic Cooperation with Iraq and Syria" has said the United States was the loser due to Washington’s failure to zero Iran’s oil and gas exports.
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8% Rise in Iran 7-Month Petchem Output
TEHRAN (Shana) – Iran’s petrochemical output rose by 8 percent year-on-year in the first 7 months of the current calendar year, which began on March 21.
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MOP Supports Domestic Manufacturing with Int'l Standards: Min.
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said his ministry would support domestic manufacturing by observing international standards in the oil industry.
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Iran Gas Industry to Celebrate Self-Sufficiency in Equipment Supply: CEO
TEHRAN (Shana) –The CEO of the National Iranian Gas Company (NIGC) announced the start of construction of 35 widely-consumed and strategic items in the gas industry with support from local knowledge-based companies.
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99.99% Safety in Pipeline Transmission
TEHRAN (Shana) -- The Iranian Oil Pipelines and Telecommunication Company (IOPTC) transmits millions of liters a day of a variety of petroleum refined products via over 14,000 kilometers of underground pipeline and many pumping stations to feed refineries producing gasoline, gasoil and kerosene among other products before delivery to the storage facilities of National Iranian Oil Products Distribution Company (NIODPC).
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Petchem Role in Stock Market
TEHRAN (Shana) -- In the petroleum industry, petrochemical companies have gained fame for their early and fast yield. Some experts say the rate of return of investment in petrochemical projects is six years.
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No Covid-19 Impact on Iran Gas Distribution
TEHRAN (Shana) -- Iran has one of the most extended gas pipelines in the region. Last calendar year to March 20, Iran extended its gas pipelines to 37,343 kilometers. Furthermore, 86 gas compressors are under operation while 316 have already become operational across the country.
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Iran Gas Sector Braces for Fast Development
TEHRAN (Shana) -- Iran’s gas industry development has over the past six years seen daily growing development with the focus having been on recovery from the giant South Pars gas field. Development of gas industry is racing ahead in both upstream and downstream sectors. Iran’s gas industry train has been overcoming all restrictions in order to reach the final destination, which is maximum recovery from joint fields and replacement of gas with petroleum products. The gas industry hopes to connect all cities, as well as all villages with more than 20 households to the national gas network. In addition to maximum recovery from joint gas fields, processing the already recovered gas would be also instrumental in order to avoid any halt in the development operations.
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Iran Eyes 100 mt Petchem Output in 1399
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the country’s petrochemical production capacity was planned to cross 10 million tons per year in the current Iranian calendar year which began on March 20.
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Rouhani: Oil, Gas Projects under Way despite Sanctions
TEHRAN (Shana) – Iranian President Hassan Rouhani appreciated Iranian oil industry achievements, saying: "The United States cannot bring our nation to its knees because of the plans that we will implement in [the calendar year of] 1399, after two years and a few months of severe sanctions."
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Fajr Jam Refinery Launches Solar Power Plant
TEHRAN (Shana) -- Fajr Jam Gas Refining Company has officially opened a solar power plant in its facility.
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Oil Market Black Monday
TEHRAN (Shana) -- The novel coronavirus drastically changed the consumption patterns of hydrocarbon products across the globe. Many regular consumers of oil products such as gasoline or jet fuel were no longer willing to buy them. Everyone ranging from big buyers to car owners have been affected. Oil products’ consumption has significantly declined and the refining industry has faced serious stagnation due to weakened demand. However, the impact on various sectors of the refining industry was not identical.
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Doroud, Arvand Oil Fields Up for Investment
TEHRAN (Shana) -- The Doroud oil field, which is located in Kharg Island and northwest of the Persian Gulf, is among developed oil fields which the Iranian Offshore Oil Company (IOOC) presented to foreign investors within the framework of the new model of oil contracts – the Iran Petroleum Contract (IPC).
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WTI: What Negative Price Meant
TEHRAN (Shana) -- On 20 April 2020, West Texas Intermediate (WTI) futures experienced unprecedented developments. WTI contract prices for delivery in May dropped to below zero. One may ask it would be the same for June. In this specific period, negative prices were driven by an unusual circumstance due to an expiring futures contract. However, unless the oil demand situation changes quickly, the US could face single digit or even negative oil prices throughout the summer.
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Iran Pahlavi I Petroleum Industry
Complex Oil Show
TEHRAN (Shana) -- The D’Arcy Concession was awarded in 1901 when the Qajar dynasty was drawing to a close. Iran’s petroleum industry was born during the Qajar period. When in 1907 D’Arcy discovered oil in Persia amid conflict for the conquest of Tehran, the Pahlavis were not yet known. However, ten years later, the British found Iran’s politics much different from before and they continued to devour Persian petroleum.
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Iran March-May Petchem Output up 6% Y/Y
TEHRAN (Shana) -- The director of production control at the National Petrochemical Company said: "From the beginning of this [calendar] year (March 20) to May 10, the country's petrochemical complexes achieved a 6% increase in production compared to the same period last year."
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Zangeneh Outlines MOP Measures to Combat COVID-19
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh listed the measures taken by the Iranian Ministry of Petroleum to confront the coronavirus outbreak in the country.
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Oil for Our Nation
TEHRAN (Shana) -- Everything initiated when a national demand was brought up in parliament. Some 15 years had passed since the 1933 agreement. World War II (WWII) had come to an end and triumphant Allies were letting the US take over politics and economy. Britain, France and their European allies felt exhausted due to the war with German Nazism and Italian Fascism. Now, it was the US who wanted to fish in troubled waters caused by WWII. Under such circumstances, nationalists and independent movements in Iran found the chance to breathe fresh air and they focused on the petroleum industry.
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Covid-19 Crisis and Oil Prices
TEHRAN (Shana) -- Oil prices keep falling. Nobody could imagine that oil prices would hit their 17-year lows in less than three months. Analysts shift the blame on the novel coronavirus outbreak, which has degenerated into a global crisis. The Covid-19 outbreak caused economic stagnation and demand for oil and petroleum products dropped severely.
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NIOC 1398 Review
TEHRAN (Shana) -- Iran’s petroleum industry went through a tough and breathtaking period in the calendar year 1398 (ended March 19) as the United States tightened its sanctions on this sector. However, the developments of Iran’s last calendar year show that the country has managed to go ahead with its capacity building projects with a view to maximizing its output once the sanctions have been lifted. That is exactly what happened after Iran struck its historic 2015 nuclear deal with six world powers as the country immediately lifted its oil output capacity.
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RIPI Pursing EOR Research Projects
TEHRAN (Shana) – The Upstream Faculty of the Research Institute of Petroleum Industry (RIPI) is pursuing four large-scale research contracts in the field of enhanced oil recovery (EOR).
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Jam Petchem Plant Breaks Output, Sales Record
TEHRAN (Shana) -- The director of Jam Petrochemical Company said: "Fortunately, this complex was able to achieve a new record in production and sales last [calendar] year by supplying more than 2.5 million tons of various items."
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NIDC Builds Acidifacation Batch Mixer
TEHRAN (Shana) – The National Iranian Drilling Company has manufactured an acidification batch mixer by relying on local experts.
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Pardis Petchem Plant bags National Energy Management Award
TEHRAN (Shana) -- Pardis Petrochemical Company has received the two 2-star silver statues of the 5th National Energy Management Award.
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Iran OPEC Boss in Coma after Brain Haemorrhage
TEHRAN (Shana) -- Iran's veteran OPEC Governor Hossein Kazempour Ardebili has slipped into a coma after a severe brain haemorrhage.
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Isfahan Refinery Eyes Euro-5 Gasoil Production
TEHRAN (Shana) -- The CEO of Isfahan Oil Refining Company said the plant was to launch a diesel treatment by March 2021 which would bring the quality of its gasoil output to Euro-5.
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Refining Sector Annual Review
Last calendar year saw Iran's oil refining industry take important steps towards development and self-sufficiency. The refining industry has signed memorandums with the Petroleum Ministry and some other ministries and bodies. One of these MOUs was on producing needle and sponge coke at the Bandar Abbas and Imam Khomeini oil refineries. They were signed between National Iranian Oil Refining and Distribution Company (NIORDC) and Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) with a view to putting an end to Iran's sponge coke imports. Another achievement of the oil refining industry is full commissioning of phases 1, 2 and 3 of the Bandar Abbas gas condensate refinery, generally known as the Persian Gulf Star refinery. Some 70% of the equipment used at the condensate refinery was made in Iran.