$87b Investment in Petchem Sector

SHANA (Tehran) – Iran’s petrochemical production capacity is close to 100 mt/y, which is expected to increase in line with the objectives of the 7th National Economic Development Plan and under the aegis of arrangements made by the National Petrochemical Company (NPC).

Tax incentives for AI development in petchem industry

SHANA (Tehran) – The advisor to the CEO of the National Petrochemical Company (NPC) announced efforts to create a data lake to leverage artificial intelligence capabilities in the petrochemical industry, adding that tax incentives have been proposed to accelerate the process.

Power sector’s gas demand complicates overhaul work in hot season

SHANA (Tehran) – The CEO of Pars Oil and Gas Company (POGC) said energy imbalances have worsened compared to previous years, and gas consumption remains high during hot months due to electricity generation needs.

Parts of subsidies given to diesel fuel consumers removed

Iran keeps monthly quota diesel price steady for commercial vehicles

SHANA (Tehran) - The CEO of National Iranian Oil Products Distribution Company (NIOPDC) emphasized that the subsidized diesel fuel quota price for urban and intercity transport fleets with verified performance will remain unchanged, stating it will stay at 300 tomans per liter.  

Energy Ministry proposal under review

SHANA (Tehran) - A member of the Iranian Parliament’s Energy Committee said the proposal to establish an Energy Ministry is under review, with the goal of consolidating the country’s energy sector management. However, further discussions are needed on implementation and organizational structure.  

Major oil, petchem projects to launch monthly: Paknejad

SHANA (Tehran) - Oil Minister Mohsen Paknejad announced at a cabinet meeting Sunday that one major oil or petrochemical project will begin operations each month from late May through the end of the year.  

PGPIC ready to cooperate with Uzbekistan

SHANA (Tehran) – The CEO of Persian Gulf Petrochemical Industries Company (PGPIC) announced readiness to develop a roadmap for Iran-Uzbekistan cooperation in the petrochemical sector, stressing the need to expand bilateral collaboration, joint investments, and the exchange of petrochemical products and feedstocks.

Digital Public Relations: A prerequisite for professional public opinion management

SHANA (Tehran) – The deputy oil minister for gas affairs emphasized the strategic role of public relations in accurately representing the realities of the gas industry, stressing the need for digital tools, precise information, and a professional approach in organizational communications.

Nationwide fuel tracking system to disrupt smuggling operations

SHANA (Tehran) –The director of the Real-Time Monitoring Plan for the Supply and Distribution Chain of Petroleum Products at Iran's National Oil Engineering and Construction Company announced that the plan will be operational by the end of the Iranian year 1404 (March 2026).

NIORDC drives urban fleet modernization in Tehran

SHANA (Tehran) –The National Iranian Oil Refining and Distribution Company (NIORDC) has signed a memorandum of understanding to replace 20,000 gasoline-powered motorcycles with electric ones in Tehran, marking the first step toward modernizing the city’s fleet to promote clean transportation and reduce fuel consumption.

PGPIC secures license for largest capital market financing via securities

SHANA (Tehran) – The CEO of Persian Gulf Petrochemical Industries Corporation (PGPIC) announced that the holding company has over $12 billion in unfinished projects, stating that a license for the largest capital market financing through securities has been obtained to realize the goal of "investment for production."

Kharg Island ready to fully support maximum Iranian oil exports

SHANA (Tehran) – The CEO of Iranian Oil Terminals Company emphasized the strategic position of Kharg Island in the country’s oil export chain and announced the company’s full readiness to support Iran’s maximum oil exports. He stated that Iran’s oil terminals play a key role in achieving the oil industry’s major goals through their specialized, infrastructural and logistical capabilities.

Crude oil storage capacity increases by 2m barrels

SHANA (Tehran) – Iran’s crude oil storage capacity has increased by 2 million barrels following the commissioning of two refurbished tanks at the Kharg oil terminal in the operational zone.

Oil Ministry focuses on digital economy as growth driver in 7th Development Plan

SHANA (Tehran) – The deputy of planning at the Oil Ministry emphasized the ministry’s focus on developing the digital economy, stating that it is a key driver of economic growth in the 7th Development Plan as lawmakers have prioritized the digital economy, with a significant portion of growth expectations hinging on success in this sector.

‘Public Relations: Embodiment of honesty in building trust’

SHANA (Tehran) – The legal affairs assistant to the minister and secretary of the Central Selection Board of the Ministry of Oil congratulated everyone on Communications and Public Relations Day.

PIDMCO oversees 25 projects worth $11b amid sanctions

SHANA (Tehran) – The CEO of Petrochemical Industries Development Management Company (PIDMCO) announced that the firm is currently managing 25 projects valued at over $11 billion despite challenging sanctions. Some of these projects are among the largest national initiatives, and their completion is critical for boosting production and strengthening the economy.

PR plays pivotal role in advancing oil industry

SHANA (Tehran) – The Director-General of Public Relations for the Ministry of Petroleum congratulated all professionals in the field, particularly the pioneers of public relations in Iran’s oil industry, on Public Relations and Communications Day.

NIORDC announces two new refineries, anti-smuggling measures

SHANA (Tehran) – The CEO of National Iranian Oil Refining and Distribution Company (NIORDC) announced the launch of two new refineries and three quality improvement projects this year.

Gov’t works to sustain oil exports despite sanctions

SHANA (Tehran) – The CEO of the National Iranian Oil Company (NIOC) emphasized the strategic importance of Kharg Island and praised the 14th administration’s intensified efforts to maintain exports under sanctions. “Kharg is not just an oil terminal—it symbolizes national synergy in safeguarding the country’s underground wealth,” he said.

Oil industry key to Iran’s economic growth, says lawmaker

SHANA (Tehran) – A member of Parliament’s presiding board emphasized that the International Oil Exhibition showcases the achievements and successes of the industry, stating: "The oil industry, as the driving force of the national economy, plays a decisive role in the country’s development and progress."

Challenging gas transfer operations amid winter production-consumption imbalance

SHANA (Tehran) – The CEO of Iranian Gas Transmission Company (IGTC) outlined the company’s special measures to maintain stable gas flow during the cold days of 1403 (2024-2025), stating: "Despite the imbalance between production and consumption, household gas usage reached 76% of the country’s total consumption on some days, making this one of the most difficult operational periods in recent years."

Sarajeh gas storage capacity to increase to 1.5 bcm

SHANA (Tehran) – The acting head of Iran Gas Engineering and Development Company announced that the gas storage capacity at the Sarajeh field will increase to 1.5 billion cubic meters (bcm) per year upon completion of its second phase.

Isfahan Refinery pushes forward on eco-friendly RHU upgrade

SHANA (Tehran) – The CEO of Isfahan Oil Refining Company stated that the Residual Hydrotreating Unit (RHU) upgrade project is progressing swiftly without any stoppages or major issues. The only current obstacle is delays in procuring certain project materials due to suppliers failing to meet commitments.

POGC announces official start of gas compression project in South Pars

SHANA (Tehran) – The CEO of Pars Oil and Gas Company (POGC) outlined necessary measures to advance the gas pressure-boosting project in South Pars, including providing a comprehensive operational plan, making timely decisions and meeting set deadlines.

OPEC crude production hits 26.7 mbd in April

SHANA (Tehran) - Members of the Organization of the Petroleum Exporting Countries (OPEC) produced a combined 26.71 million barrels per day (bpd) of oil in April, according to the group’s latest report.  

US policy of maximum pressure a failed experiment, says Paknejad

SHANA (Tehran) – Iran’s oil minister emphasized the diversification of the country’s crude oil sales portfolio, stating that the policy of maximum pressure is a repetitive slogan by the US and a failed experiment.

Power plants lead gas consumption: Over 1.7 bcm in seven days

SHANA (Tehran) – The total gas delivered to power plants, major industries, and the residential and commercial sectors from May 6 to 12 exceeded 4.436 billion cubic meters (bcm), with power plants receiving over 1.758 bcm—the largest share.

Gov't spox:

Caspian Sea oil drilling begins after 30 years, oil Ministry leads effort

SHANA (Tehran) - The government spokesperson announced that shallow oil well drilling operations have begun along the Caspian Sea coast after nearly 30 years, praising the efforts of the Oil Ministry’s staff.  

Iran, Iraq stress need to expand joint cooperation

SHANA (Tehran) – Iran’s oil minister and Iraq’s electricity minister emphasized bilateral relations and joint cooperation during an official meeting.