oil

  • AOGC signs 6 Cooperation MoUs, 3 Contracts

    AOGC signs 6 Cooperation MoUs, 3 Contracts

    TEHRAN (Shana) -- Arvandan Oil and Gas Company (AOGC) signed 6 cooperation memoranda of understanding (MOU) and 3 contracts on the 3rd day of the 13th Ahvaz Oil Industry Equipment Manufacturing Exhibition.

  • Showcase of Newly-Built Oil Items Kicks off

    Showcase of Newly-Built Oil Items Kicks off

    TEHRAN (Shana) -- The exhibition of knowledge-based equipment and oil industry items built domestically for the first time was inaugurated in the presence of the chairman of the board of directors of the Oil Industry Pension Funds.

  • $1.2b of oil revenue deposited in NIMA System since Dec. 22

    $1.2b of oil revenue deposited in NIMA System since Dec. 22

    TEHRAN (Shana) -- The economic spokesman of the administration said since December 22, a total of $6.2 billion of hard currency has been offered in the NIMA system, of which $1.2 billion is from the sale of crude oil and $1.7 billion from petrochemical sales.

  • Most Iran-made South Pars Refinery to Startup Soon

    Most Iran-made South Pars Refinery to Startup Soon

    TEHRAN (Shana) – The CEO of the National Iranian Oil Company (NIOC), emphasizing that the most Iranian-made South Pars refinery is about to be launched in phase-14 of the massive offshore gas field.

  • Number of KBCs Double in Khuzestan Oil Exhibition

    Number of KBCs Double in Khuzestan Oil Exhibition

    TEHRAN (Shana) -- The CEO of Arvandan Oil and Gas Company said the number of knowledge-based companies in the 13th specialized exhibition of Khuzestan oil industry equipment manufacturing has doubled since the last edition of the fair.

  • Iran Potential Oil Output at 7.4mbd: Economist

    Iran Potential Oil Output at 7.4mbd: Economist

    TEHRAN (Shana) -- The head of the economic group of the Supreme Leader's Office stated that Iran has the ability to reach the crude oil daily production capacity of 7.4 million barrels, saying: “We are an oil country, we cannot lag behind the countries that are planning to increase their production capacity.”

  • Tehran, Caracas should Implement Energy MOUs: FM

    Tehran, Caracas should Implement Energy MOUs: FM

    TEHRAN (Shana) – The Iranian Minister of Foreign Affairs emphasized the development and strengthening of cooperation with Venezuela, especially implementation of understandings in the field of energy.

  • Iran launched $3b Oil Projects in South

    Iran launched $3b Oil Projects in South

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji announced the exploitation and the start of executive operations of nearly $3 billion of oil project in the southern province of Hormuzgan.

  • Iran Joins Club of Sponge Coke Producers

    Iran Joins Club of Sponge Coke Producers

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said Iran has joined the 6 countries that possess the know-how of producing sponge coke in the world.

  • Export/Import Terminal of Shahid Rajaei Port Launched

    Export/Import Terminal of Shahid Rajaei Port Launched

    TEHRAN (Shana) -- Sepahan Oil Company's export and import terminal of Shahid Rajaei Port was put into operation on Saturday by video conference with the order of the Minister of Petroleum.

  • Iran Hard Currency Reserves Reliable: President

    Iran Hard Currency Reserves Reliable: President

    TEHRAN (Shana) -- The President said: “I assure the people and economic activists that we have good and reliable hard currency reserves and the money from the sale of oil returns to the country.”

  • Mothballed Oil Wells Rehabilitation

    Mothballed Oil Wells Rehabilitation

    TEHRAN (Shana) -- National Iranien Oil Company (NIOC) has long focused on developing technologies to enhance recovery from oil wells. Although sanctions have posed an obstacle in its way, it aims to cut short the way to its objective by embarking on a quick-yielding project for the rehabilitation of low-output and abandoned wells. In this manner, by spending much less than drilling new wells, NIOC would be able to enhance its crude oil output. Without enhancing oil output, no future may be envisaged for enhanced oil recovery (EOR) projects. Therefore, the important thing would be to enhance production in any possible manner. Internationally speaking, more oil production would empower Iran to become more influential in the oil market while remaining resilient to challenges and restrictions because in the economic and political structure of the world energy, oil barrels have the final say.

  • Iran Hydrocarbon Reserves Estimated at 16 BBL

    Iran Hydrocarbon Reserves Estimated at 16 BBL

    TEHRAN (Shana) -- The director of exploration at National Iranian Oil Company (NIOC), Mehdi Fakour, has said that Iran was estimated to sit atop 16 billion barrels of hydrocarbon reserves.

  • Investment in Crude Oil Storage Capacity

    Investment in Crude Oil Storage Capacity

    TEHRAN (Shana) -- A meeting was held to introduce opportunities for investment in crude oil storage tanks construction and operation, required by National Iranian Oil Company (NIOC), within the framework of public-private partnership (PPP). This is the first time the private sector is given the chance for investment in the crude oil storage sector. NIOC intends to enhance its crude oil storage capacity by 7.7 million barrels.

  • Will 2023 See Oil Market Prosper?

    Will 2023 See Oil Market Prosper?

    TEHRAN (Shana) -- With the beginning of 2023, the developments of the oil market in 2022 and the perspective of the New Year have been reviewed. The idea is to examine the factors affecting the market. It must be acknowledged that 2022 experienced ups and downs in the oil market and profound changes have taken place in this market. These developments have caused the 2023 Outlook to have many uncertainties, and as a result, many reputable institutions have doubts in their forecasts, and most institutions are waiting for market stability.

  • Iran can cooperate with Algeria in Oil, Gas Studies: Speaker

    Iran can cooperate with Algeria in Oil, Gas Studies: Speaker

    TEHRAN (Shana) -- The Speaker of the Iranian Parliament said: “Iran and Algeria have the possibility to cooperate in the field of knowledge-based issues and infrastructure and energy studies, especially oil and gas.”

  • NIOC Eyes 0.9mbd Output Growth in 8 Years

    NIOC Eyes 0.9mbd Output Growth in 8 Years

    TEHRAN (Shana) -- The CEO of the National Iranian Oil Company (NIOC) said plans are under way to bring Iran’s crude oil production capacity to 5.7 million barrels per day in a matter of 8 years.

  • Reviving Low-yield Oil Wells Revives Capital in Iran: MP

    Reviving Low-yield Oil Wells Revives Capital in Iran: MP

    TEHRAN (Shana) -- Tehran's representative in the Iranian parliament underlined the need for youth participation in different parts of the country, emphasizing the need to link the oil industry with scientific societies.

  • Mideast Oldest Refinery to Rejuvenate

    Mideast Oldest Refinery to Rejuvenate

    TEHRAN (Shana) -- With the commissioning of the Abadan oil refinery development plan, for the first time in the Middle East, the largest crude oil vacuum and atmospheric distillationun its, hydrocracker and the tallest integrated crude oil furnace will be launched in this facility. This megaproject has been implemented in partnership with the Chinese. It is expected to be put into operation by March 2023.

  • Value-Creating Projects in Iran’s Oil Industry

    Value-Creating Projects in Iran’s Oil Industry

    TEHRAN (Shana) -- Over recent years, Iran's oil industry has enjoyed significant acceleration and progress in the exploitation of projects. By briefly reviewing the development process of the remaining phases of the massive South Pars gas field, other joint fields and implementation of various contracts in oil and gas fields, it could be construed that the development of Iran's oil industry has never stopped notwithstanding the sanctions, and has retained its role as the driver for growth, prosperity and wealth creation in the country’s economy. The present article aims at reviewing the development of some of the most important projects in Iran's oil industry since the 13th administration took office until the end of Iranian calendar year 1400 (March 20, 2022).

  • Enhanced Recovery from 600 Wells Planned

    Enhanced Recovery from 600 Wells Planned

    TEHRAN (Shana) -- CEO of National Iranian Oil Company (NIOC) Mohsen Khojasteh-Mehr recently told a conference on oil and gas wells enhance recovery that $2.5 billion had been invested in the refinery of phase 14 of the giant offshore South Pars gas field. He said the 3rd train of SP14 refinery had become operational, adding: “The gas from the 3rd train of this refinery has been fed into the national gas distribution network. The next train is expected to become operational soon.”

  • Iran Plans Lifting Offshore Oil Output

    Iran Plans Lifting Offshore Oil Output

    TEHRAN (Shana) -- Iran’s comprehensive plan to increase oil output is followed up on in line with the objectives already envisaged for economic prosperity. Therefore, Petroleum Ministry has instructed National Iranian Oil Company (NIOC) with a plan to use its oil fields to increase oil output. Using offshore and onshore oil fields is among plans to that end with joint fields being prioritized. Here we review the Iranian Offshore Oil Company (IOOC)’s oil output hike. IOOC is tasked with operating oil and gas fields off the Persian Gulf.

  • Exploration Talks with 3 Countries

    Exploration Talks with 3 Countries

    TEHRAN (Shana) -- The head of exploration at National Iranian Oil Company (NIOC) has said talks have been held with three countries for implementation of oil and gas exploration projects. 

  • Iran Ready for Energy Cooperation with Lebanon

    Iran Ready for Energy Cooperation with Lebanon

    TEHRAN (Shana) – Stating that Tehran will remain Beirut's friend during difficult times, the Iranian Minister of Foreign Affairs said Iran is ready to cooperate with Lebanon in economic, commercial and energy fields.

  • PUT Ranks First in Iran, ME, 7th in World

    PUT Ranks First in Iran, ME, 7th in World

    TEHRAN (Shana) -- According to the Scimago Ranking System, the Petroleum University of Technology (PUT) was ranked first in Iran, first in the Middle East, and seventh in the world in the field of geology.

  • Petchem exports Rise in Assaluyeh

    Petchem exports Rise in Assaluyeh

    TEHRAN (Shana) -- The CEO of Pars Special Economic Energy Zone Organization (PSEEZ) announced a 50% increase in the export of this region compared to the previous year.

  • Iran-made Gas Lift Equipment Unveiled

    Iran-made Gas Lift Equipment Unveiled

    TEHRAN (Shana) -- Iranian-made gas lift equipment has been unveiled with the support of the National Iranian South Oil Company (NISOC).

  • National Conference on Diplomacy, Cross-border Environmental Challenges to be held

    National Conference on Diplomacy, Cross-border Environmental Challenges to be held

    TEHRAN (Shana) -- The Center for Political and International Studies of the Ministry of Foreign Affairs, in cooperation with a number of executive and specialized agencies, including the Ministry of Petroleum, is organizing the first national conference on diplomacy and cross-border environmental challenges.

  • Iran Oil Sales, Steady, Growing: Spokesman

    Iran Oil Sales, Steady, Growing: Spokesman

    TEHRAN (Shana) -- The government spokesperson announced the continuous increase in the export of crude oil and gas condensate, and said: "Last month, we saw record exports since the beginning of the new round of sanctions, i.e. since 2018.”

  • $200 b Earmarked for Iran Major Projects

    First Vice President:

    $200 b Earmarked for Iran Major Projects

    TEHRAN (Shana) -- The first vice president said 200 billion dollars have been earmarked for the country's major projects in various sectors, including oil, industry, water, and electricity.