Development of joint oilfields, key strategy for gov't: VP

SHANA (Tehran) - The first vice president announced  that developing shared oilfields is a key strategy of the 14th administration. 

MP: No short-term solution to energy deficit

SHANA (Tehran) – A member of Iran's parliamentary Energy Committee said on Saturday that liquid fuel was not stored during the first half of the year and was instead consumed.

NIOPDC: Fuel delivery to power plants increases by 41%

SHANA (Tehran) – The CEO of the National Iranian Oil Products Distribution Company announced a 41% increase in liquid fuel delivery to power plants compared to the same period last year, saying that this amounts to an additional 4 billion liters of fuel delivered since the beginning of the current Iranian year (March 20).

China’s oil consumption peaked in 2023, CNPC says

SHANA (Tehran) – China's refined oil consumption peaked in 2023 at 399 million metric tons (7.98 million barrels per day) and is expected to fall 1.3% to 394 million tons in 2024, CNPC Economics & Technology Research Institute said on Friday.

Oil minister calls on citizens to join campaign to reduce heating temperatures by two degrees

SHANA (Tehran) – The oil minister underlined the importance of public participation in the "Reduce heating system temperatures by 2 degrees" campaign, saying he believes the current challenges can be overcome with public cooperation and without significant disruptions. 

Oil Ministry reports increased fuel deliveries to power stations

SHANA (Tehran) – Despite colder weather and increased residential gas consumption, the amount of equivalent fuel supplied to power stations has risen, statistics from the Ministry of Oil indicate.

NIOPDC:

Fuel delivery to power plants increases by 4b liters, up over 40%

SHANA (Tehran) – The CEO of Iran’s National Iranian Oil Products Distribution Company (NIOPDC) announced a 43% increase in the delivery of liquid fuel to power plants compared to last year.

IEA expects comfortably supplied oil market in 2025 despite demand hike

SHANA (Tehran) – The world oil market will be comfortably supplied in 2025, the International Energy Agency (IEA) said on Thursday, even after producer group OPEC+ extended oil supply cuts and a slightly higher than expected demand forecast.

Oil edges lower on IEA surplus forecast

SHANA (Tehran) – Oil prices were down more than 1% on Thursday as a forecast for ample supply in the oil market offset optimism stemming from growing expectations of a US interest rate cut.

Iran’s oil output rises by 37,000 bpd in November, OPEC reports 

SHANA (Tehran) – Iran’s crude oil production increased by 37,000 barrels per day (bpd) in November compared to the previous month, according to the latest report from the Organization of the Petroleum Exporting Countries (OPEC). 

Over 95% of equipment indigenized for Shazand Oil Refinery

SHANA (Tehran) – The managing director of the Shazand Oil Refinery announced that over 95% of the parts and equipment required for the refinery have been localized, expressing hope that, with continued collaboration with domestic manufacturers and producers, this figure could reach 100% by the end of the year.

NIOC exploration chief:

Iran’s High Exploration Council to be revived soon

SHANA (Tehran) – The director of exploration at the National Iranian Oil Company (NIOC) announced that the High Exploration Council is set to be reestablished in the near future as necessary correspondence with NIOC’s CEO has already been undertaken to facilitate its revival.

Human Resources, the Main Asset of Oil Industry

SHANA (Tehran) - Iranian Minister of Petroleum Mohsen Paknejad says that what keeps the oil industry stable is not oil and gas reserves, but its expert human resources.

Leader Approves Withdrawal from NDF

SHANA (Tehran) - The Supreme Leader of the Islamic Revolution, Ayatollah Seyyed Ali Khamenei has agreed with the president’s request to allocate part of the National Development Fund’s resources to the government’s financial needs.

OPEC Weekly Price Rises for Two Weeks in A Row

SHANA (Tehran) – The weekly price of OPEC basket of twelve crudes rose by 2.04 dollars during the week ending on June 20.

IIES Establishing Strategic Studies Centers

SHANA (Tehran) - The Institute for International Energy Studies’ (IIES) deputy for research says the institute plans to create a number of strategic studies centers in the institute to help the four main subsidiaries of the Petroleum Ministry to face the challenges they face by providing their needs to research and related studies.

Iran to Launch 15 Petchem Projects by Yearend: NPC Chief

SHANA (Tehran) -- Iran is to launch 15 petrochemical projects by the end of the current Iranian calendar year (to end on March 20, 2025), said the managing director of National Petrochemical Company of Iran (NPC) here on Saturday.

Iran Adds 60mcm/d to its Gas Production Capacity: NIGC Head

SHANA (Tehran) -- Iran’s natural gas production capacity increased by 60 million cubic meters per day in last Iranian calendar year (ended March 19, 2024), said the head of National Iranian Gas Company (NIGC) here on Thursday.