Shana

Fear of tariffs wipes out one-fifth of oil market

SHANA (Tehran) – Crude oil prices have fallen between 14% and 19% since the start of 2025, according to data from OilPrice.com, as escalating trade wars and fears of an economic downturn drive the recent market slump.

Gas industry staff praised for ensuring stability during harsh winter

SHANA (Tehran) – The managing director of the National Iranian Gas Company (NIGC) praised the unwavering efforts of the country’s gas industry workers, saying their dedication ensured the nation weathered one of the harshest winters in recent years.

South Pars Refinery 1 produces over 10 bcm of gas

SHANA (Tehran) – The director of the first South Pars Gas Refinery said domestic experts enabled the facility to produce over 10 billion cubic meters of sweetened gas in 1403 (2024-25), exceeding its target by 5%.

NIOC announces investment opportunities list

SHANA (Tehran) – The list of investment opportunities from the National Iranian Oil Company (NIOC), presented at the "Transformation in Investment and Development of Iran’s Upstream Oil and Gas" event, has been announced.

Scholar:

Oil prices drop due to lower demand, political risks

SHANA (Tehran) – A faculty member at the Institute for International Energy Studies said that the recent decline in oil prices is primarily due to seasonal demand reductions in spring and easing geopolitical tensions in the Middle East. He added that if political stability persists and tariff wars do not escalate, the oil market could stabilize.

Coordination meeting held for Azadegan Oil Field development

SHANA (Tehran) – The first coordination meeting to begin operations for the development and integration of the shared Azadegan oil field was held.

Utilizing petchem industry capabilities to achieve the year's economic slogan

SHANA (Tehran) – The CEO of the National Petrochemical Company (NPC) emphasized the need to attract new investments and boost production, stating that in the "Year of Investment for Production," all available capacities in the petrochemical industry must be leveraged to realize the year's slogan.

PEDEC:

Investment: A prerequisite for achieving Iran’s oil goals

SHANA (Tehran) – The CEO of Petroleum Engineering and Development Company (PEDEC) emphasized investment as the key prerequisite for realizing new oil and gas production capacities and stressed the need for active private sector participation.

11,700 parts indigenized at SPGC

SHANA (Tehran) – The commercial manager of the South Pars Gas Complex (SPGC) announced the localization of approximately 11,700 goods and equipment, stating that this initiative aims to strengthen domestic production, reduce reliance on imports, and support Iranian manufacturers in line with the year’s slogan.

Karoun Petrochemical Company production grows 17%

SHANA (Tehran) – The CEO of Karoun Petrochemical Company announced a 17.4% increase in production in 1403 compared to 1402.

244 mcm of gas delivered to power plants

SHANA (Tehran) – A sum of 244 million cubic meters of natural gas were delivered to power plants across the country on Monday to meet fuel demand.

Necessity of capturing APG highlighted

SHANA (Tehran) – The CEO of the National Iranian South Oil Company (NISOC) emphasized the necessity of capturing associated petroleum gas (APG).

Over 19 bcm of gas sent to national grid from South Pars Phase 5 Refinery

SHANA (Tehran) – The director of the Phase 5 refinery at the South Pars Gas Complex announced that more than 19 billion cubic meters (bcm) of natural gas were delivered to the national grid in the year 1403 (2024-25), emphasizing the facility’s vital role in meeting the country’s energy needs.

Gov’t Spox:

Energy diversification a top priority for gov’t

SHANA (Tehran) – Government spokesperson Fatemeh Mohajerani said Tuesday that utilizing clean energy and diversifying the energy portfolio are key priorities for the administration, which will help reduce power outages for industries.

Fajr Jam gas processing sees 9% production growth

SHANA (Tehran) – The CEO of Fajr Jam Gas Processing Company announced that the facility’s gas production in 1403 exceeded the approved target by 9%, surpassing 18 billion cubic meters.

Smart pigging operation completed on SP Phase 11 offshore pipeline

SHANA (Tehran) – The executor of the South Pars Phase 11 development project announced the successful completion of a smart pigging operation on the phase’s offshore pipeline. The operation was conducted to ensure the pipeline’s quality integrity and enhance production safety and stability.

Iran invests over $1b in drilling rigs

SHANA (Tehran) – The CEO of the National Iranian Drilling Company (NIDC) announced an $800 million investment from the National Iranian Oil Company to purchase 15 onshore drilling rigs this year, adding that an additional $200 to $300 million from the company’s forex reserves will be allocated for ancillary equipment, such as cementing pumps and nitrogen units.

Iran’s daily oil refining capacity to increase by 180,000 barrels

SHANA (Tehran) – The executive deputy of the National Iranian Oil Refining and Distribution Company (NIORDC) announced that the South Adish and Mehr Persian Gulf refineries will become operational by the end of this year, boosting the country’s daily refining capacity by 180,000 barrels.

NPC: 18 petchem projects nearing operation

SHANA (Tehran) – The CEO of the National Petrochemical Company (NPC) stated that the year 1404 (2025-2026) will be the peak year of the Seventh Development Plan (2024-28), with around 18 projects worth a total of $5 billion set to become operational.

Iran to present 200 oil industry investment opportunities worth $135b

SHANA (Tehran) – National Iranian Oil Company (NIOC) will introduce over 200 investment opportunities in the country’s upstream oil and gas sector this spring, Deputy Investment and Business Director Amir Moqiseh announced. The opportunities, valued at more than $135 billion, will be unveiled at the upcoming "Investment and Development Transformation Event."

Doroud oil field production rises

SHANA (Tehran) – The director of Kharg operational district announced a significant achievement by Iranian Offshore Oil Company specialists in boosting production at the Doroud oil field, saying that the milestone, achieved in mid-March 2025 coinciding with the anniversary of Iran’s oil industry nationalization, resulted from months of effort to launch a gas injection project for three wells in the field.

Gas supply to NGL 3200 project increases

SHANA (Tehran) – The director of the Yadvaran oil field development project announced an increase in the volume of gas supplied to the NGL 3200 project.

Private sector investment opportunities in oil highlighted

SHANA (Tehran) – The head of Parliament's Energy Committee said there are opportunities for private sector investment in upstream and downstream petrochemical industries, as well as oil and gas, and that the committee supports such investments.

Bid Boland Persian Gulf Gas Refinery’s initiative;

Turning flare gas into wealth

SHANA (Tehran) – Out of 59 flares in the "Optimization and Construction of Flare Gas Gathering Facilities" project in East Karoun, 11 have been collected by the Bid Boland Persian Gulf Gas Refinery, adding approximately 120 million cubic feet per day to the refinery’s feedstock.

Phase 2 of Shourijeh Gas Storage Facility reaches 54% completion 

SHANA (Tehran) - The second phase of the Shourijeh gas storage facility project has surpassed 54% completion, with simultaneous progress in above-ground, underground, and main equipment construction, according to the acting head of Iran Gas Engineering and Development Company.  

Continued oil exports result from oil industry workers' efforts

SHANA (Tehran) – The CEO of Iran Oil Terminals Company (IOTC) stated that the sustained export of oil is the result of the relentless efforts of the industry's workforce, adding, "We are constantly working to maintain stable oil exports, improve performance and enhance infrastructure."

Parl. Speaker:

Energy at forefront of investment; incentives must increase

SHANA (Tehran) – Parliament Speaker Mohammad-Baqer Qalibaf stated that energy is a top priority for investment, emphasizing the need to boost incentives in this sector through public joint-stock companies, projects, and other economic frameworks.

NIOC announces OSP for April

SHANA (Tehran) – The National Iranian Oil Company (NIOC) has set Iran’s April crude oil prices, with Iran Light crude for Asian customers priced about $4 above the Oman/Dubai benchmark.

Arvandan Oil & Gas Company;

From smartization to focusing on oil production growth

SHANA (Tehran) – The CEO of Arvandan Oil and Gas Company stated that the company’s primary focus in the new year will be increasing oil production, adding: "We are working on new initiatives in smart oilfield development (Digital Oil Field)”.

Oil Ministry advances energy diplomacy agenda

SHANA (Tehran) – A review of the 14th administration’s Ministry of Oil programs highlights its efforts to strengthen energy diplomacy, leveraging existing capacities to bolster Iran’s role in the global energy landscape.