• South Pars Development Seen Foiling Sanctions

    South Pars Development Seen Foiling Sanctions

    TEHRAN (Shana) -- Despite President Joe Biden taking office in the United States, Iran’s petroleum industry is still unable to sell crude oil as much as its market share due to the toughest ever financial and banking sanctions his predecessor Donald Trump imposed on Iran in 2018 after quitting the 2015 nuclear deal. Meantime, the coronavirus pandemic has left serious negative impacts on the market. And the petroleum industry has automatically not been spared over years. The petroleum industry definitely needs investment and technology.

  • Local E&P Firms to Study Azadegan Field

    Local E&P Firms to Study Azadegan Field

    TEHRAN (Shana) -- The giant Azadegan oil field, estimated to hold 32 billion barrels of oil in place, has already been developed in two sections – North Azadegan and South Azadegan. The field is currently supplying 215,000 b/d of oil.

  • Investment Opportunities in Bangestan

    Investment Opportunities in Bangestan

    TEHRAN (Shana) -- More than 60% of Iran’s oil production comes from 10 giant fields, all of which having reached maturity. Lack of investment for many years in order to enhance the rate of recovery has enhanced production risk. However, there is great potential for enhanced production from these fields. A case in point pertains to the Ab Teimour and Ahvaz Bangestan oil fields. They were discovered more than 50 years ago and they are still supplying oil.

  • Danan, Cheshmeh-Khosh, Susangerd Attractive to Investors

    Danan, Cheshmeh-Khosh, Susangerd Attractive to Investors

    TEHRAN (Shana) -- Sanctions have failed to halt Iran’s petroleum industry activities. However, developing the industry in Iran would need foreign investment and cutting edge technology to raise output. Over recent years, in the absence of foreign companies, local contractors have moved to develop oil and gas fields.

  • NISOC Proceeds with Green Development

    NISOC Proceeds with Green Development

    TEHRAN (Shana) -- CEO of National Iranian South Oil Company (NISOC) Ahmad Mohammadi has said sustainable and continuous production, supply of refinery feedstock and providing oil for exports were among the major achievements of the company. In an interview with "Iran Petroleum", he also said that NISOC was ready to lift output from its oil fields as soon as sanctions are lifted. NISOC supplies 80% of Iran’s oil production.

  • Iran Determined in Zero-Flaring Projects

    Iran Determined in Zero-Flaring Projects

    TEHRAN (Shana) -- The issue of zero-flaring is not only significant for Iran’s petroleum industry, but also for every other nation. Globally speaking, more than 150 bcm of associated gas is flared every year. According to the World Bank data, the figure is equal one-third of Europe’s total gas consumption.

  • Khorasan Petchem Plant Reaps $20m Revenue in Q1

    Khorasan Petchem Plant Reaps $20m Revenue in Q1

    TEHRAN (Shana) -- The CEO of Bojnourd-based Khorasan Petrochemical Plant said the plant’s exports reached about $20 million in the first quarter of the current Iranian calendar year which began on March 21.

  • Iran Opens Oil Export Terminal beyond Strait of Hormuz

    Iran Opens Oil Export Terminal beyond Strait of Hormuz

    TEHRAN (Shana) – Iran has just launched a new export terminal in Jask, Hormuzgan Province, south of Iran, which can receive up to 1 mbd of crude oil from a massive pipeline from Goreh, Bushehr Province. The terminal is built to allow Iran export its crude oil beyond Strait of Hormuz.

  • TPC Registers Fresh Production Records

    TPC Registers Fresh Production Records

    TEHRAN (Shana) -- Tabriz Petrochemical Company (TPC) has achieved new records in the production of polyethylene and ABS.

  • Iran to Start Production of PET Color Grade

    Iran to Start Production of PET Color Grade

    TEHRAN (Shana) -- The caretaker of Martyr Tondguyan Petrochemical Company said for the first time in the history of the country's petrochemical industry, the production of textile PET grade yarn with the aim of eliminating the need for imports, meeting the needs of complementary petrochemical industries and increasing the company's profitability will begin.

  • Iran to Export 1st Oil Shipment from Jask on July 22

    Iran to Export 1st Oil Shipment from Jask on July 22

    TEHRAN (Shana) -- The CEO of the National Iranian Oil Company (NIOC) said loading and export operation of the first shipment of Iranian crude oil from Jask and the Sea of ​​Oman will be carried out on July 22 by the presidential order.

  • Iran Eyes $20b in Petchem Revenue in Current Fiscal Year

    Iran Eyes $20b in Petchem Revenue in Current Fiscal Year

    TEHRAN (Shana) – The CEO of the National Petrochemical Company (NPC) announced the revenue of the petrochemical industry in the current Iranian calendar year of 1400 which began on March 21 to reach $20 billion which plays an important role in macroeconomics of the country.

  • Crude Oil Loading to begin at Jask Terminal in Days

    Crude Oil Loading to begin at Jask Terminal in Days

    TEHRAN (Shana) – A senior official with the National Iranian Oil Company (NIOC) said that the crude oil in the Goreh-Jask pipeline will reach the Jask terminal in about 20 kilometers and “we expect the first shipment of crude oil to be loaded by the end of the week.”

  • Bidboland Persian Gulf Refinery to Supply Superjet Fuel

    Bidboland Persian Gulf Refinery to Supply Superjet Fuel

    TEHRAN (Shana) -- Persian Gulf Bidboland Gas Refining Company has invests €55 million in its butane+ desalination project to maximize protection of the environment and supply superjet fuel.

  • Amirkabir Petchem Plant Registers New Production, Export Records in Q1

    Amirkabir Petchem Plant Registers New Production, Export Records in Q1

    TEHRAN (Shana) – Iran’s Amirkabir Petrochemical Company managed to set a new record in the production and export of its products in the first quarter of the current calendar year, which began on March 21.

  • Zangeneh: High Oil Prices Will not Benefit OPEC+ in the long run

    Zangeneh: High Oil Prices Will not Benefit OPEC+ in the long run

    TEHRAN (Shana) -- Iran’s Minister of Petroleum, Bijan Zangeneh, said the decision made during OPEC Plus meeting today will not increase oil prices, adding high prices will not work to the group’s advantage in the long run.

  • Countdown Begins for 1st Crude Oil Export from Jask Terminal

    Countdown Begins for 1st Crude Oil Export from Jask Terminal

    TEHRAN (Shana) -- The Deputy National Iranian Oil Company (NIOC) CEO for Development and Engineering Affairs announced: “Due to the completion of the strategic and national plan for the transfer of crude oil from Goreh to Jask, the first shipment of crude oil will be exported from the Jask terminal in the coming few days.”

  • OPEC+ Agrees Additional Increase of 400,000 bpd Monthly

    OPEC+ Agrees Additional Increase of 400,000 bpd Monthly

    TEHRAN (SHANA) – The Organization of the Petroleum Exporting Countries and its allies reached a compromise on Sunday on an overall increase of crude oil output by 400,000 bpd per month to December 2022, as well as a baseline change for five countries.

  • 19th OPEC+ Meeting Starts

    19th OPEC+ Meeting Starts

    TEHRAN (Shana) -- The 19th meeting of oil and energy ministers of members and non-members of the Organization of the Petroleum Exporting Countries (OPEC), known as the OPEC+, began a few minutes ago via video conference.

  • Iran to Launch Goreh-Jask National Oil Pipeline

    Iran to Launch Goreh-Jask National Oil Pipeline

    TEHRAN (Shana) -- The CEO of the National Iranian Oil Company, pointing out that the oil injection was done in the direction of the Goreh-Jask strategic oil transfer plan, adding: "This huge plan will be officially launched in the coming days."

  • Petchem Output Set to Grow 10mt 

    Petchem Output Set to Grow 10mt 

    TEHRAN (Shana) -- Iran’s petrochemical production capacity has been growing over the past eight years. Despite tough sanctions imposed on Iran’s petroleum industry, the petrochemical sector has constantly exported products to become a major source of revenue for Iran.

  • Petropars to Develop Farzad B

    Petropars to Develop Farzad B

    TEHRAN (Shana) -- On May 17, a $1.68 billion buyback agreement for development of the Farzad B gas field was signed between National Iranian Oil Company (NIOC) and Petropars Limited. The agreement was signed by Reza Dehqan, deputy CEO of NIOC for development and engineering, and Hamid-Reza Masoudi CEO of Petropars.

  • 32 Petchem Projects in 8 Years

    32 Petchem Projects in 8 Years

    TEHRAN (Shana) -- On May 20, three petrochemical projects came online. They were Sabalan methanol project with annual capacity of 1.65 million tonnes, Masjed Soleyman urea and ammonia plant with annual capacity of 1.7 million tonnes and Assaluyeh Exir Hallal project with annual capacity of 50,000 tonnes of pentane and hexane. President Hassan Rouhani officially inaugurated the projects.

  • No-Flaring in Cheshmeh-Khosh Expected This Year

    No-Flaring in Cheshmeh-Khosh Expected This Year

    TEHRAN (Shana) -- The Iranian Central Oil Fields Company (ICOFC) assigned to a domestic company a project for gathering flare gas at the Cheshmeh-Khosh oil field. Under this agreement, 67 mcf/d of associated petroleum gas would be gathered over six months.

  • 1st Well of Nasr 5 Satellite Platform Online

    1st Well of Nasr 5 Satellite Platform Online

    TEHRAN (Shana) -- The first well of Nasr 5 Satellite Platform, called Well SICE6, has come online to increase crude oil production in Sivand and Esfand fields.

  • RIPI Develops Knowhow of Producing Lubricants for Wellhead Calves

    RIPI Develops Knowhow of Producing Lubricants for Wellhead Calves

    TEHRAN (Shana) -- The downstream campus of the Research Institute of Petroleum Industry has been able to produce lubricants and seals for wellhead valves.

  • Tabriz Refinery Saves €1.8 million in Building Cooling Unit

    Tabriz Refinery Saves €1.8 million in Building Cooling Unit

    TEHRAN (Shana) -- The project manager of the cooling unit of Tabriz Oil Refinery announced the continuous activity of this unit, adding, “The projected credit for the implementation of this project was €6 million, which reached €4.2 million due to the change in the executive approach and internalization of parts.”

  • Noori Petchem Plant Net Profits Rise 270% Y/Y

    Noori Petchem Plant Net Profits Rise 270% Y/Y

    TEHRAN (Shana) -- The CEO of Noori Petrochemical Company announced an increase of 526,772 tons in the complex’s output in the calendar year of 1399 which ended on March 20 compared to the preceding year, which resulted in a 270% percent rise in the company’s net profits.

  • HyCO Project to Make Karoon Petchem Plant Self-sufficient in Supply of Key Feedstocks

    HyCO Project to Make Karoon Petchem Plant Self-sufficient in Supply of Key Feedstocks

    TEHRAN (Shana) -- The chairman of the board of directors of Karoon Petrochemical Plant said: "By exploiting the HyCO project, the value chain of Karoon Petrochemical Plant will be more complete and the dependence of this company in supplying feedstock will be minimized.”

  • Cumulative South Pars Gas Output Crosses 1.8 tcm

    Cumulative South Pars Gas Output Crosses 1.8 tcm

    TEHRAN (Shana) -- The volume of rich gas extracted from the South Pars joint gas field since it’s the beginning of its development has exceeded 1.8 trillion cubic meters.