Production
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Goldman Sachs still sees crude prices falling after OPEC+ deal
(Reuters) - Goldman Sachs said on Sunday that oil prices would continue to fall in the coming weeks, reasoning that a "historic yet insufficient" deal by major oil producers to cut output is unlikely to offset a coronavirus-led demand rout.
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RIPI Inks Deal with Local Firm for Commercializing Micro-CHP Products
TEHRAN (Shana) – The Research Institute of Petroleum Industry has signed a contract with Aran Energy Systems Company for commercializing and selling Heat demand and Electrical demand products as well as generator engines based on OHVG gas-based engine technology.
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Iran Monomer Styrene Producer Breaks Non-Stop Operations Record
TEHRAN (Shana) -- Pars Petrochemical Company has broken a new record by operating 470 days non-stop, producing monomer styrene.
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Iran Crude Oil Production Capacity at 3.7 mbd
TEHRAN (Shana) – An Iranian oil official says the country has the capacity to produce 3.7 million barrels per day of crude oil.
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Iran Petchem Progress not Affected by Sanctions: MP
TEHRAN (Shana) – A member of the Iranian parliament says the US sanctions on Iran’s economy had the least impact on the accelerating pace of the country’s petrochemical industry.
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WOPGC Bracing for 7mcm/d Gas Output
TEHRAN (Shana) – West Oil and Gas Production Company (WOGPC) has planned to bring its natural gas output to 7 million cubic meters per day.
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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.
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Jam Petchem Plant Plans to Diversify Output
TEHRAN (Shana) – The CEO of Jam Petrochemical Plant said the company had devised a master plan for diversification of its output.
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SZOGPC Localizes Technology to Construct Borehole Imager
TEHRAN (Shana) – Iran’s South Zagros Oil and Gas Production Company (SZOGPC) has indigenized construction of borehole imagers which was previously monopolized by a few foreign companies.
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Iran Plans to Enhance Petchem Diversity by 2025
TEHRAN (Shana) – The diversity of petrochemicals produced in Iran is expected to be enhanced by 2025 as the country is planning to realize the sector’s second and third leaps by 2025.
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Iran Oil Industry Developing Despite Sanctions: Official
TEHRAN (Shana) – A senior Iranian oil official said that the industry was developing in the country despite the sanctions.
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Iran Raises Crude Oil Production in North Yaran
TEHRAN (Shana) – Iran’s crude oi production from North Yaran Oilfield has increased by 1,000 b/d, an official with the developer of the field said.
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Ferdowsi, Mideast Largest Heavy Oil Field
TEHRAN (Shana) -- The Ferdowsi oil field in the Persian Gulf is among the Middle East reservoirs with about 37 billion barrels of heavy crude oil.
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Iran Crude Oil Refining Capacity Growing
TEHRAN (Shana) -- The CEO of National Iranian Oil Refining and Distribution Company (NIORDC) has said Iran’s crude oil and gas condensate refining capacity has increased from 1.55 mb/d in 2017 to 2.15 mb/d.
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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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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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Overhaul of 4 South Pars Platforms Complete
TEHRAN (Shana) -- Operations to overhaul 4 offshore platforms belonging to the supergiant South Pars gas field have completed.
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South Pars Gas Output to Increase by 60mcm by March 2020
TEHRAN (Shana) -- The CEO of the Pars Oil and Gas Company (POGC) said that gas production from the offshore South Pars gas field would be increased by 60 million cubic meters per day by the end of the current calendar year to March 2020.
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NIOC Awarding 8 Field Development Projects
TEHRAN (Shana) -- A deputy CEO of National Iranian Oil Company (NIOC) has said that the development of eight fields was to be awarded to mainly Iranian companies.
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Iran Oil Production to Continue Strongly: Dy. Min.
TEHRAN (Shana) -- An Iranian Deputy Petroleum Minister said the country’s oil production was ongoing strongly without any disruptions except for recent flash floods in certain oil-rich regions.