Oil Industry

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.
2020-05-05 16:50
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.
2020-05-04 11:20
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.
2020-04-26 22:41
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.
2020-04-26 15:07
WTI, April 20 and What Happened

TEHRAN (Shana) -- What happened on April 20, 2020 in the oil futures market? Why the benchmark US oil prices did headed to negative territory for May 20 delivery? Will the futures contract price for WTI crude for June 2020 also be negative? Why are the prices for some crude oil in the United States and Canada single-digit or negative? To get the answers to these questions, don't miss this report, which was sent to Shana by an oil market analyst familiar with the oil market.
2020-04-23 16:09
Petchem Industry Driving Force behind Iran Development

TEHRAN (Shana) -- A member of the Energy Committee of the Iranian parliament said: "The petrochemical industry, as a sustainable and attractive industry, plays an important role in the country's economy and creates value by using the resources available in its development."
2020-04-20 14:27
Interview with NIDC Weightlifter

Dreaming of World and Olympic Championship

TEHRAN (Shana) -- Iranian weightlifters finished in second place at the 2020 Asian Junior Weightlifting Championships in Tashkent, Uzbekistan. The Iran team won four gold, 10 silver and 5 bronze medals, scoring 641 totally.
2020-04-20 12:31
OPEC vs. Non-OPEC

TEHRAN (Shana) -- The oil price slump following failure of OPEC+ talks in March is the biggest blow to the oil market since the third oil shock; a new scenario is emerging for the oil market.
2020-04-09 11:55
How Iran’s Oil Attracted US

TEHRAN (Shana) -- The United States suffered least damage among the nations involved in the World War I and World War II. It escaped unscathed even from devastating post-war crises, and even upgraded its political, economic, military and cultural power on a daily basis. In the 1950s, nobody heard any more about Italian Fascism and German Nazism, as Europe was divided between Capitalists and Communists. As the world came closer to mid-1860s, it became further polarized: one pole led by the US and the other led by the Soviet Union.
2020-03-18 15:55
IPIEMA Localizes Strategic Petchem Equipment

TEHRAN (Shana) -- A member of the Iranian Petroleum Industries Equipment Manufacturers Association (IPIEMA) said Iranian manufacturers had successfully localized building of compressors and extruders in the petrochemical industry.
2020-02-19 19:26
Iran Starts Mass Production of Drilling Bit

TEHRAN (Shana) -- The Iranian-made toothed drilling bit has entered mass production phase.
2020-02-18 17:14
TENCO Poised to Strike Oil Development Agreement

TEHRAN (Shana) -- Omid Asakareh, CEO of Negin Afagh Kish Energy Development Co (TENCO), says his company is set to sign an agreement for the development of an oil field in southern Iran. He told "Iran Petroleum" TENCO would most probably operate the project in partnership with a foreign firm, saying each side’s share would depend on negotiations. He, however, said, TENCO would be able to carry on with the project on its own.
2020-02-01 10:46
Oil Figures in Iran’s Contemporary History: From Conspiracy to Death

TEHRAN (Shana) -- Iran’s oil history has been into ups and downs. It would not be exaggeration if we say that we have had several hundred years of history throughout one hundred years of oil operation. In historical events, some persons have played significant roles, leading either to success or to failure. Some have served the country and some have turned out to be traitors. In fact, such figures make history and drive it forward. Decisions and behaviors of historical figures have been influential on Iran’s contemporary history. Getting to know this history can open a bright horizon for us. Here we review some of these figures:
2020-02-01 10:44
2019 Oil Market Hotbeds

TEHRAN (Shana) -- The year 2019 was fraught with events for global oil markets. However, as far as the pricing was concerned the impacts were weak and short-lived on the market. That could have largely affected the oil market in the middle of the decade, but by the end of the last decade of the 21st century, the impact has been meager. In other words, 2019 ended the same way it had started. No significant development was witnessed in the trend of prices with which are mainly concerned producers, consumers, speculators and market analysts. Nonetheless, in the final hours of 2019, oil prices experienced an unpredicted jump to cross $70 a barrel, an unprecedented record since 2018.
2020-02-01 10:41
Azadegan Up for Investment

TEHRAN (Shana) -- The Azadegan oil field is Iran’s largest oil field and the third largest field in the world, just behind Saudi Arabia’s Ghawar and Kuwait’s Burgan oil fields. Azadegan was discovered in 1997. It covers an area of 20 kilometers in width and 75 kilometers in length in Azadegan Plan, some 100 kilometers west of the city of Ahvaz. Azadegan was initially estimated to hold 33 billion barrels of oil. In 1999, a new oil layer with 2.2 billion barrels was discovered in this field. Azadegan is divided into South Azadegan and North Azadegan.
2020-01-27 14:28
Iranian Builders Supply 85% of Oil Industry Equipment

TEHRAN (Shana) -- The chairmen of the board of directors of the Iranian Oil Industry Equipment Manufacturers Association said that the share of Iranian manufacturers and craftsmen in the supply of oil industry equipment has reached 85%.
2020-01-22 17:42
Gas Emissions Nearly Eradicated at KOGPC

KHUZESTAN (Shana) – The CEO of Karoon Oil & Gas Production Co. (KOGPC) said his company had invested over a billion dollars to prevent gas emissions in its operations which was currently 95% complete.
2019-12-14 16:45
GOGPC Signed 54 Deals with Local Suppliers for Building Items

KHUZESTAN (Shana) -- Gachsaran Oil and Gas Production Company (GOGPC) has signed 54 deals with local manufacturers for production of oil industry items and parts.
2019-12-14 15:37
NISOC Displays List of Needed Items for Domestic Manufacturing

KHUZESTAN (Shana) -- The National Iranian South Oil Company (NISOC) has provided a list of 7,500 items to be developed by local manufacturers.
2019-12-14 11:27
Innovation in Petchem Industry, a Must: CEO

TEHRAN (Shana) -- The CEO of the National Petrochemical Company (NPC) said if no planning takes place in Iran’s petrochemical industry, decisions would be made about the industry in China.
2019-11-13 18:38
Iran Wealthy in Oil Exploration Capacity

TEHRAN (Shana) -- An Iranian official says that the country is teeming in oil exploration potentialities.
2019-10-22 16:39
Iran Firms Ready to Step in Exploration Projects

TEHRAN (Shana) -- The Managing Directors of OIEC and TEKNO companies has indicated their companies’ readiness to step in sophisticated exploration projects in Iran.
2019-10-13 16:52
One Barrel Oil?

2019-10-12 12:44
Gas Turbine Training Course Held for Iraqi Oil Experts

TEHRAN (Shana) – An international gas turbines training course was organized by Isfahan Petroleum Technical Specialist Training Center for 12 instructors of Iraqi Ministry of Petroleum Training Centers.
2019-10-06 16:22
Rotary Actuator for Oil Valves Localized

TEHRAN (Shana) -- A senior expert at the Pars Special Economic Energy Zone Organization (PSEEZ) succeeded in developing a rotary actuator used in oil and gas valves.
2019-09-29 15:26
Iran, Syrian Private Sector Firms to Cooperate in Oil Projects

TEHRAN (Shana) -- The Syrian minister of petroleum and mineral resources visited Iran’s chamber of commerce, voicing the interests of his country’s private sector in joint economic activities with Iranian partners.
2019-09-25 17:13
CEO Highlights Support for Domestic Manufacturers

TEHRAN (Shana) – The CEO of the National Petrochemical Company (NPC), Behzad Mohammadi, stressed the necessity of supporting domestic manufacturers and producers.
2019-09-24 18:47
Iran, Syria Mull Enhanced Cooperation

TEHRAN (Shana) -- The Iranian Minister of Petroleum met his Syrian opposite number in his Tehran office on Tuesday.
2019-09-24 13:41
13th Iran Plast Showcase to Kick off on Sunday

TEHRAN (Shana) -- The 13th edition of the Iran Plast international exhibition will begin on Sunday, September 22 through 25 at Tehran’s permanent fairgrounds.
2019-09-21 14:58
Selling Oil not Easy but Efforts Continue Nonstop: Iran

TEHRAN (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh says selling oil is not easy for the country, adding, “We, however, would never cease to try.”
2019-09-18 13:44