Shana

Coordination meeting held for Azadegan Oil Field development

SHANA (Tehran) – The first coordination meeting to begin operations for the development and integration of the shared Azadegan oil field was held.

PEDEC:

Investment: A prerequisite for achieving Iran’s oil goals

SHANA (Tehran) – The CEO of Petroleum Engineering and Development Company (PEDEC) emphasized investment as the key prerequisite for realizing new oil and gas production capacities and stressed the need for active private sector participation.

Iran invests over $1b in drilling rigs

SHANA (Tehran) – The CEO of the National Iranian Drilling Company (NIDC) announced an $800 million investment from the National Iranian Oil Company to purchase 15 onshore drilling rigs this year, adding that an additional $200 to $300 million from the company’s forex reserves will be allocated for ancillary equipment, such as cementing pumps and nitrogen units.

Iran to present 200 oil industry investment opportunities worth $135b

SHANA (Tehran) – National Iranian Oil Company (NIOC) will introduce over 200 investment opportunities in the country’s upstream oil and gas sector this spring, Deputy Investment and Business Director Amir Moqiseh announced. The opportunities, valued at more than $135 billion, will be unveiled at the upcoming "Investment and Development Transformation Event."

Doroud oil field production rises

SHANA (Tehran) – The director of Kharg operational district announced a significant achievement by Iranian Offshore Oil Company specialists in boosting production at the Doroud oil field, saying that the milestone, achieved in mid-March 2025 coinciding with the anniversary of Iran’s oil industry nationalization, resulted from months of effort to launch a gas injection project for three wells in the field.

Continued oil exports result from oil industry workers' efforts

SHANA (Tehran) – The CEO of Iran Oil Terminals Company (IOTC) stated that the sustained export of oil is the result of the relentless efforts of the industry's workforce, adding, "We are constantly working to maintain stable oil exports, improve performance and enhance infrastructure."

Parl. Speaker:

Energy at forefront of investment; incentives must increase

SHANA (Tehran) – Parliament Speaker Mohammad-Baqer Qalibaf stated that energy is a top priority for investment, emphasizing the need to boost incentives in this sector through public joint-stock companies, projects, and other economic frameworks.

NIOC announces OSP for April

SHANA (Tehran) – The National Iranian Oil Company (NIOC) has set Iran’s April crude oil prices, with Iran Light crude for Asian customers priced about $4 above the Oman/Dubai benchmark.

Oil Ministry advances energy diplomacy agenda

SHANA (Tehran) – A review of the 14th administration’s Ministry of Oil programs highlights its efforts to strengthen energy diplomacy, leveraging existing capacities to bolster Iran’s role in the global energy landscape.

59th Meeting of JMMC held via videoconference

SHANA (Tehran) – The 59th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Saturday.

Paknejad:

JMMC plays great role in maintaining oil market stability, balance 

SHANA (Tehran) - The oil minister expressed confidence that the OPEC+ Joint Ministerial Monitoring Committee (JMMC) will assist member countries in playing an active, precise, and cautious role in the oil market by leveraging its experience in accurately assessing market developments.  

Oil industry a key investment opportunity: Lawmaker

SHANA (Tehran) – A member of Iran’s Parliament presiding board said oil and gas fields could be a major draw for domestic and foreign investors, stressing that the parliament and government must work together to facilitate investment in the sector and utilize all available resources.

Oil, gas exploration to resume in Persian Gulf after five years

SHANA (Tehran) – The head of exploration at the National Iranian Oil Company (NIOC) announced that offshore exploration had been halted since 1398 (2019) due to drilling rig limitations but expressed hope that operations would resume in the current Iranian year in shared border areas with neighboring countries.

Gasoline consumption rises 15%

SHANA (Tehran) – Iran's daily gasoline consumption reached over 131 million liters on Thursday, Farvardin 14, as travelers returned from Nowruz holidays, marking a 15% increase compared to the same day last year.

OPEC+ members reaffirm commitment to market stability

SHANA (Tehran) – The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on April 3, 2025, to review global market conditions and outlook.

Significant price fluctuations in Iran’s oil over 1403

SHANA (Tehran) – An analysis of Iran’s crude oil prices in 1403 shows that while geopolitical and political events cause short-term price volatility, market factors—particularly supply and demand—remain the primary drivers of price changes.

Iran’s Oil Ministry commits to strengthening global energy standing

SHANA (Tehran) – The 14th administration’s Oil Ministry has made significant progress in international energy organizations and forums, reinforcing energy diplomacy and advancing Iran’s position in global oil, gas, and energy markets. Its performance underscores its commitment to safeguarding national interests while enhancing international cooperation.

Oil Ministry subsidiaries secure major oil, gas contracts in 1403

SHANA (Tehran) – Subsidiaries of Iran’s Oil Ministry achieved outstanding performance in 1403 by signing significant contracts in large and medium-scale transactions, marking a major step in developing the country’s hydrocarbon industry.

ICOFC: From gas field development to key project launches

SHANA (Tehran) – The CEO of the Iranian Central Oil Fields Company (ICOFC) outlined the company’s major achievements in 1403 and announced plans for technical and contractual negotiations to develop 16 gas fields and launch key projects in 1404.

NIOC performance in 1403: Achieving priorities through capabilities

SHANA (Tehran) –National Iranian Oil Company (NIOC) made significant strides in 1403, driven by the efforts of its employees to bolster the economy.

Self-sufficiency under sanctions: a technological leap in Iran’s oil industry

SHANA (Tehran) – The deputy oil minister for engineering, research and technology cited first-time production achievements and innovations in financing tools for new technology-based firms (NTBFs) as two key accomplishments of the Oil Ministry in the Iranian year 1403 (2024-25).

Gasoline consumption exceeds 125m liters on eighth day of spring

SHANA (Tehran) - Iran’s gasoline consumption reached 125.7 million liters yesterday, marking a decrease of 1.8 million liters compared to the same day last year.  

Refinery projects prioritized

SHANA (Tehran) - The oil minister emphasized prioritizing refinery projects based on available capital, stating that attracting public investment for small-scale refinery projects is a key focus, in line with the Leader’s designation of the Iranian year 1404 (2025-26) as the "Year of Investment for Production."  

Gasoline consumption rises 8% during Nowruz holidays

SHANA (Tehran) - Oil Minister Mohsen Paknejad announced an 8% increase in average daily gasoline consumption during the Nowruz holidays compared to the same period last year, stating that fuel reserves are currently at a strong level.

Loud voices of free thinkers worldwide defend Palestinian people

SHANA (Tehran) - The Minister of Oil called the oppression of defenseless Palestinians deeply painful, asking, “What is the response of human rights advocates in Western countries to the demands of this population and other Quds Day rallies around the world?”

Drilling rig installed in joint Arvand Oil Field

SHANA (Tehran) - The CEO of Arvandan Oil and Gas Company announced the full installation of a drilling rig in the joint Arvand oil field to carry out well repair operations and drill a new well.  

Senior MP announces strong parliamentary support for oil industry

SHANA (Tehran) - The head of the Iranian Parliament’s Energy Committee praised the Oil Ministry’s cooperation with the committee and other specialized parliamentary panels, emphasizing that committee members unanimously support Oil Minister Mohsen Paknejad and the oil industry.  

NIDC completes 100 oil, gas wells in 1403

SHANA (Tehran) - The CEO of the National Iranian Drilling Company (NIDC) announced the successful drilling and final completion of 100 oil and gas wells in 1403 (ended March 20, 2025), utilizing the company’s fleet in both onshore and offshore areas.

Iranian, Iraqi oil ministers hold phone call

SHANA (Tehran) - Iran’s oil minister emphasized the need for vigilance against provocations by the two countries' enemies during a phone call with his Iraqi counterpart.  

Paknejad: Investment opportunities in oil industry to be introduced

SHANA (Tehran) - Mohsen Paknejad, Iran’s oil minister, said Wednesday that crude oil production has increased by 50,000 barrels per day.