oil

  • Iran Fully Receives Oil Money: Min.

    Iran Fully Receives Oil Money: Min.

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said: “The enemy is trying to prevent a jump in Iran's oil exports by seizing our ships. …We took oil to places that the Americans would not even think of.”

  • MOP not sitting out Nuclear Talks: Min.

    MOP not sitting out Nuclear Talks: Min.

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said the ministry was not kept waiting for the outcome of the nuclear talks in Vienna and was progressing activities in the oil industry by relying on domestic experts and capabilities.

  • MOU Signed for Phase II of Masjed Soleyman Oilfield Development

    MOU Signed for Phase II of Masjed Soleyman Oilfield Development

    TEHRAN (Shana) -- The CEO of Petroleum Engineering and Development Company (PEDEC) announced signing of the Memorandum of Understanding for the second phase of Masjed Soleyman oil field development project.

  • Production Capacity of Danan Field Enhanced

    Production Capacity of Danan Field Enhanced

    TEHRAN (Shana) – The CEO of Iranian Central Oil Fields Company (ICOFC) said three new wells have come online since late February at Danan Oilfield which have added 5,000 barrels per day to the field’s production capacity.

  • NITC Orders 113,000-ton Tanker to Local Builders

    NITC Orders 113,000-ton Tanker to Local Builders

    TEHRAN (Shana) -- The CEO of the National Iranian Tanker Company (NITC) announced that his company has ordered construction of an Aframax tanker to domestic companies.

  • Iran-Russia to Bolster Energy Ties

    Iran-Russia to Bolster Energy Ties

    TEHRAN (Shana) -- The Iranian Deputy Minister of Petroleum for International Affairs and Trade said: "Iran and Russia, with the cooperation of each other and some other major countries, can figure out new equations in the field of international economy."

  • US Fueling Oil Price Tensions Seeking New Energy Strategy: Expert

    US Fueling Oil Price Tensions Seeking New Energy Strategy: Expert

    TEHRAN (Shana) -- Explaining the latest developments in the oil market, the Director General of OPEC and Relations with Energy Communities Department of the Ministry of Petroleum said: "The United States is trying to change the strategy of new energies and save the use of these energies by fueling oil price tensions."

  • Future of Iran in Energy Market Hinged on Understanding Trends

    Future of Iran in Energy Market Hinged on Understanding Trends

    TEHRAN (Shana) -- The caretaker of the Institute for International Energy Studies (IIES), stating that the purpose of IIES is to become a think tank, stressed that the future of Iran in the energy market requires an understanding of trends.

  • $18b Allocated to New Refining Projects

    $18b Allocated to New Refining Projects

    TEHRAN (Shana) -- The CEO of the National Iranian Oil Engineering and Construction Company announced the allocation of $18 billion to the development of new refining projects under the Raisi administration.

  • Rising oil prices, Chance for Iran to retake Market Share

    Rising oil prices, Chance for Iran to retake Market Share

    TEHRAN (Shana) -- The chairman of the board of the Iranian Oil, Gas and Petrochemical Union believes that the increase in energy prices could provide a great opportunity for Iran to return to world oil markets.

  • Owji Tweets on Oil Industry Investment

    Owji Tweets on Oil Industry Investment

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji announced in a post on his Twitter account that more than 45 contracts and memorandums worth $15.6 billion have been signed in the first six months of the Raisi administration.

  • Iran Oil Exports Rising regardless of Vienna Talks

    Iran Oil Exports Rising regardless of Vienna Talks

    TEHRAN (Shana) -- The former director of international affairs of the National Iranian Oil Company (NIOC), referring to the desire of Asian companies to buy Iranian crude oil despite the sanctions, said: "Regardless of the outcome of the JCPOA talks, and given the high demand for oil in the market, Iran will continue to boost its sales.”

  • Iran exports Gasoil Shipments to Asia

    Iran exports Gasoil Shipments to Asia

    TEHRAN (Shana) -- The CEO of the National Iranian Oil Refining and Distribution Company (NIORDC) announced the export of three shipments of Iranian diesel to Asian countries last month.

  • Iran to invest $4b in Khuzestan Oil Industry

    Iran to invest $4b in Khuzestan Oil Industry

    TEHRAN (Shana) -- The Executive Vice President, stating that $4 billion will be invested in the oil sector in Khuzestan province, said: "The entire administration, Imam Khomeini Headquarters, the Foundation for the Oppressed and the operating banks have closed ranks to upgrade Khuzestan to its true status."

  • Investment in Oil Industry, a Vital Necessity: Min.

    Investment in Oil Industry, a Vital Necessity: Min.

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said investment in the petroleum industry of the country was very crucial for the country, promising that by the end of the current administration all the associated gas in east and west Karoon regions would be collected.

  • Iran Eyes 500 mcf APG Collection in 2 Years

    Iran Eyes 500 mcf APG Collection in 2 Years

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said: "I can confidently say that about 500 million cubic feet of associated petroleum gas (APG) will be collected in the next one to two years to be fed to petrochemical complexes."

  • Iran Ready to Ramp up Output ASAP

    Iran Ready to Ramp up Output ASAP

    TEHRAN (Shana) -- Iranian Minister of Petroleum Javad Owji said the country would readily enhance its crude oil output to help stabilize the global market.

  • Iran, Tajikistan to Expand Oil, Gas Ties

    Iran, Tajikistan to Expand Oil, Gas Ties

    TEHRAN (Shana) – The Iranian Minister of Petroleum said that the Iran-Tajikistan Energy Working Group has been formed, adding that the level of trade between the two countries would pass 500 million Euros.

  • 40% of Oil Export Revenue, Share of NDFI

    40% of Oil Export Revenue, Share of NDFI

    TEHRAN (Shana) -- The members of the Islamic Consultative Assembly agreed to determine a 40% share for the National Development Fund of Iran (NDFI) in the revenues reaped from the export of crude oil and gas condensate in the budget bill of the calendar year of 1401 which begins on March 21.

  • Petchem Deals worth Rls.150t Signed with Local Firms

    Petchem Deals worth Rls.150t Signed with Local Firms

    TEHRAN (Shana) – The CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) said 200 memoranda of understanding (MoUs) valued at a total of 150,000 billion Iranian rials have been signed between PGPIC subsidiaries and local manufacturers.

  • $70 Oil, 1.4 mbd Sales Envisaged in Budget Bill

    $70 Oil, 1.4 mbd Sales Envisaged in Budget Bill

    TEHRAN (Shana) -- The spokesman of the presidium of the Islamic Consultative Assembly said: “With the positive vote of the representatives in the open session, the amount of oil exports in the next calendar year will be considered at 1.4 million barrels per day at a price of $70/b.

  • Iran Contractors Engaged in Oil Industry

    Iran Contractors Engaged in Oil Industry

    TEHRAN (Shana) -- Over recent years, due to the support programs of the Petroleum Ministry for Iranian manufacturers and contractors, the presence of these companies for the development of Iran's oil industry has been highly significant. Accordingly, considering the development plan of the Petroleum Ministry in the new government and also enhancing the quality of activity of Iranian companies, the expansion of bilateral cooperation with these companies is on the agenda of the Petroleum Ministry.

  • South Azadegan Output up 15,000 b/d by March

    South Azadegan Output up 15,000 b/d by March

    TEHRAN (Shana) -- The CEO of the Petroleum Engineering and Development Company (PEDEC) said: "We are trying to enhance the production capacity of the Azadegan South oil field by 15,000 barrels by the end of the current calendar year, which began on March 21."

  • Iran to Double Petchem Output by 2032

    Iran to Double Petchem Output by 2032

    TEHRAN (Shana) -- The CEO of the National Petrochemical Company (NPC) announced that the production capacity of Iran's petrochemical output will more than double by 2032.

  • Iran Gaining Prominent Status with MOP Efforts

    Iran Gaining Prominent Status with MOP Efforts

    TEHRAN (Shana) – Iranian President Ebrahim Raisi said that today in different parts of the Ministry of Petroleum, the spirit of jihad prevails, adding the measures taken by the ministry can place the country in a superior status not only in west Asia but also the world arena.

  • Defeat of US Maximum Pressure Campaign on Iran

    Defeat of US Maximum Pressure Campaign on Iran

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said that the US campaign of maximum pressure against Iran had failed, adding: "Oil industry workers are soldiers of economic jihad and at the forefront of the economic war."

  • NIOC Inks Deal to Develop Sohrab Joint Field

    NIOC Inks Deal to Develop Sohrab Joint Field

    TEHRAN (Shana) – The National Iranian Oil Company (NIOC) has signed a $800-million contract with Dana Energy Company for the development of Sohrab joint oilfield.

  • Sophisticated Drilling Tools Localized

    Sophisticated Drilling Tools Localized

    TEHRAN (Shana) – An Iranian knowledge-based company has successfully designed and localized Free Point tools in the field of drilling oil and gas wells.

  • OPEC+ Agrees to Boost Output by 0.4 mbd in March

    OPEC+ Agrees to Boost Output by 0.4 mbd in March

    TEHRAN (Shana) -- The 23-member states of the Organization of the Petroleum Exporting Countries (OPEC) and its allies (a coalition called OPEC+) agreed at their 25th meeting to increase the group’s crude oil output by 400,000 barrels per day in March.

  • Domestic Manufacturing Largely Supported

    Domestic Manufacturing Largely Supported

    TEHRAN (Shana) -- Iran’s petroleum industry, while having an important and strategic position among the country’s industries, has high ability to take advantage of innovative opportunities to create value in its chain of activities. In this regard, strengthening the flow of knowledge-based economy and meeting the technological needs of industry through innovation capacity and relying on domestic potential are among top policies of the Petroleum Ministry in the current administration.