Shana

Iranian oil minister meets with Qatari ambassador

SHANA (Tehran) – Iran's Oil Minister Mohsen Paknejad met with Saad Abdullah Saad Al Mahmoud Al-Sharif, Qatar's ambassador to Iran, on Wednesday (April 9) to discuss bilateral relations.

Iran welcomes foreign investors in its oil industry: Paknejad

SHANA (Tehran) – Iran’s oil minister announced a meeting with foreign ambassadors next week, emphasizing that Iran welcomes foreign countries—especially neighboring nations—to invest in its oil industry.

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.

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).

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."

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.

Over 2.8b liters of gasoline consumed during Nowruz holidays

SHANA (Tehran) – During the Nowruz holidays, from March 15 to April 4, a total of 2.82 billion liters of gasoline were distributed across the country, marking a 15% increase compared to the same period last year.

Heads of branches discuss preparing groundwork for investment

SHANA (Tehran) – The follow-up on implementing the year’s slogan and preparing the groundwork for attracting investment and public participation in the work sector was discussed in a meeting of the heads of the three branches of government.

59th Meeting of JMMC held via videoconference

SHANA (Tehran) – The 59th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Saturday.

NPC:

Unfinished petchem projects to be finalized by late September

SHANA (Tehran) – The CEO of the National Petrochemical Company (NPC) stated that unfinished petrochemical projects must be reviewed, adding that lawmakers have set a deadline of late September 2025 to resolve their status.

Over 1.5b liters of aviation fuel consumed in 1403

SHANA (Tehran) - The caretaker of Iran’s Aviation Fuel Administration announced that more than 1.5 billion liters of aviation fuel were consumed in 1403, marking an increase of about 100 million liters compared to the same period in 1402.  

BIPC posts 36% production growth

SHANA (Tehran) – The CEO of Bandar Imam Petrochemical Complex (BIPC) announced a 36% increase in production compared to the year 1400 (2021-22) and the breaking of a six-year export record in the year 1403 (2024-25).

OPEC+ members reaffirm commitment to market stability

SHANA (Tehran) – The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on April 3, 2025, to review global market conditions and outlook.