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US Oil Output Hike, Challenge to Mideast
TEHRAN (Shana) -- US President Donald Trump’s energy policy has had significant impacts on global markets. Under his administration, the United States has managed to increase its oil production to levels exceeding leading producers Russia and Saudi Arabia.
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Iran Gas Sector Set for Self-Reliance in Shadow of Sanctions
TEHRAN (Shana) -- Today a major requirement for survival in the tightly competitive market and the blossoming of an industrial enterprise would be to monitor industrial and technological progress, market and rivals as well as development of technology based on potential and practical capabilities of every company. Given the identity of each industrial enterprise, part of these activities is handled by R&D and IT divisions.
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SP14 Offshore Sector to Come Online
TEHRAN (Shana) -- The offshore section of Phase 14 of the giant offshore South Pars gas field is expected to come on stream late this year. Currently, the two platforms of SP14 are producing 28 mcm/d of gas. The third platform of this phase was loaded out in Bandar Abbas recently and moved to its location at 14B.
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Iran Petrol Output at 110 ml/d
TEHRAN (Shana) -- Iranian President Hassan Rouhani said Iran was currently producing 110 million tons of petrol domestically which is an unprecedented figure for the country.
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Plant Breaks Record in IPO
TEHRAN (Shana) -- Noori Petrochemical Plant, whose stocks were quoted in the Iranian stock market in its initial public offering (IPO), broke a new record as over 560,00 traders were involved in trading its shares on Saturday.
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Iran to Continue Oil Exports Under Any Conditions: FM
TEHRAN (Shana) – Iranian Minister of Foreign Affairs Javad Zarif said the country would continue its oil exports under any conditions.
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Iran Petchem Exports Ongoing
TEHRAN (Shana) -- Last May, the US shocked the world by unilaterally pulling out of the Joint Comprehensive Plan of Action (JCPOA) and re-imposing sanctions on Iran’s oil and petrochemical industries. The country has since been selling its petrochemicals despite the US-imposed sanctions, says a senior petrochemical official.
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Domestic Building of 4 South Pars Platforms Saves Iran $150m
TEHRAN (Shana) – Iran has saved as much as 150 million dollars by domestically manufacturing 4 platforms belonging to the massive South Pars gas field.
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NIOC to Ink 10 Domestic Deals on Production Maintenance, Enhancement
TEHRAN (Shana) – An official with the National Iranian Oil Company (NIOC) said the company was planning to sign ten production maintenance and enhancement contracts with domestic firms within the next two months.
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Strategies for Presence of Iranian Companies in Iraqi Oil Projects Reviewed
TEHRAN (Shana) -- A number of the heads of industrial chambers in different Iraqi cities, who had visited Tehran to explore cooperation opportunities of Iranian and Iraqi companies, assessed various solutions for the effective entry of Iranian companies in Iraqi oil and gas projects.
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3rd South Pars 14 Platform Installed
TEHRAN (Shana) -- The third offshore platform belonging to Phase 14 of the supergiant South Pars gas field has been successfully installed.
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Iran Oil Export Info, War Intelligence: Zangeneh
TEHRAN (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh said disclosing information about Iran’s current oil exports is tantamount to disclosing wartime intelligence as the country is now involved in an economic war.
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Iran Petchem Output to Reach 90 mt/y by 2022
TEHRAN (Shana) -- First Vice President Eshaq Jahangiri said Iran’s petrochemical production capacity was expected to reach 90 million tons per year from currently 64 mt/y by 2022.
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Noori Petchem Plant Exports 60% of Output
TEHRAN (Shana) – The CEO of Noori Petrochemical Plant said the plant exported 60 percent of its output.
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Iran to Build New Petchem Hub in Mahshahr
TEHRAN (Shana) – The CEO of the National Petrochemical Company (NPC) said final decisions regarding construction of a new petrochemical hub in the southwestern region of Mahshahr would be taken soon.
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Iran NOCs Entrust Comprehensive Studies of Oil Reservoirs to Local Firms
TEHRAN (Shana) -- This May, during the International Tehran Oil Show, the National Iranian South Oil Company (NISOC), among other Iranian oil companies, signed a contract for comprehensive studies on six oil fields.
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Tehran Continues Legal, Political Measures until Release of Iranian Tanker: Spokesman
TEHRAN (Shana) – Spokesman of the Iranian Ministry of Foreign Affairs Abbas Mousavi said Tehran would continue legal and political measures until the release of the Iranian oil tanker seized by British Marines.
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Iran no Threat to World Energy Security: Min.
TEHRAN (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh, reacting to Saudi energy minister’s recent remarks about Iran being a threat to global energy security, said: “Mr. Falih is a technocrat and a respectable person and does not often speak politically; he must have probably been asked to say such political things.”
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No Law Supports Seizure of Iran Oil Tanker by British Navy: Official
TEHRAN (Shana) -- Iran's Deputy Foreign Minister Abbas Araghchi described the recent capture of an Iran-flagged vessel by British Royal Marines as “Piracy”, saying, “No law supports capture of the Iranian oil tanker.”
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SZOGPC Repairs Siemens Turbine
TEHRAN (Shana) – South Zagros Oil and Gas Production Company (SZOGPC) has successfully repaired the VGC Controller of a Siemens turbine by relying on domestic capabilities.
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NIOC to Sell 2 mb of Crude Oil at Energy Exchange on July 9
TEHRAN (Shana) – The National Iranian Oil Company (NIOC) has planned to offer 2 million barrels of heavy crude oil on the Iran Energy Exchange (IRENEX) on July 9.
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Topside of Salman Offshore Fields being Readied for Loading
TEHRAN (Shana) – The topside of Platform S1 of Salaman joint oilfield is being prepared for laoding to its designated offshore spot in the Persian Gulf.
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OPEC Ministers Agree to Extend Output Cut Deal
VIENNA (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said Iran approved of an OPEC statement to extend the OPEC+ agreement to cut the group's total output by 1,200,000 bpd as well as the OPEC-non-OPEC Cooperation Charter.
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Iran Exempted from OPEC Output Cut Deal Again
VIENNA (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the country was exempted from an agreement among OPEC members to continue capping the producer body’s crude oil output by 0.8 mbd.
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OPEC+ Cooperation Charter not Contradictory to General Provisions of OPEC Statute
VIENNA (Shana) – 13 OPEC member states added a paragraph to the OPEC-non-OPEC Cooperation Charter in the organization’s 176th meeting to get the approval of Iran which had seriously opposed the charter.
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OPEC Extends Output Cut Deal to 2020
VIENNA (Shana) – 14 Members of the Organization of the Petroleum Exporting Countries (OPEC) agreed to extend the producer body’s 800,000 b/d crude oil output cut deal for the next nine months to 2020.
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Agreeing on OPEC-non-OPEC Cooperation Prolongs Meeting
VIENNA (Shana) -- "Assessing how to institutionalize OPEC and non-OPEC cooperation" is the main reason for the prolonged meeting of the OPEC ministerial meeting behind closed doors. This issue which has been considered by experts over the past several months still has ambiguities that have caused the Iranian petroleum minister to be the serious and main opposer of this plan," sources said.
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OPEC Existence main Concern for Iran: Zangeneh
VIENNA (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh told reporters ahead of the 176th OPEC meeting in Vienna that the existence of the Organization of the Petroleum Exporting Countries (OPEC) was the main issue for Iran in the meeting.
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Zangeneh Meets with OPEC President in Vienna
VIENNA (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh met with the OPEC President Manuel Quevedo, who is also Venezuelan Oil Minister, in Vienna ahead of the organization’s 176th Meeting later on Monday.
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Unilateralism, Biggest OPEC Problem: Zangeneh
VIENNA (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said he had no problem with output cut, slamming "unilateralism" as the biggest problem in the Organization of the Petroleum Exporting Countries (OPEC).