Shana

OPEC crude production hits 26.7 mbd in April

SHANA (Tehran) - Members of the Organization of the Petroleum Exporting Countries (OPEC) produced a combined 26.71 million barrels per day (bpd) of oil in April, according to the group’s latest report.  

Isfahan Oil Refinery produces heptane solvent for first time in Iran

SHANA (Tehran) – The Isfahan Oil Refinery has successfully produced heptane solvent for the first time in Iran. This product plays a significant role in reducing air pollution by cutting MTBE consumption.

Sino-US Tariff War Impact on Oil/Gas

SHANA (Tehran) - A trade war between the United States and China, the world’s top economies, has intensified over recent years. The latest indication is mutual sharp import tariff hikes. China has vowed to fight to the end in the face of US bullying, taking countermeasures against President Donald Trump’s administration.    

Venezuela Energy Supply and Exports

SHANA (Tehran) - Venezuela was once a prominent oil market player in the world. For years, it has been experiencing a sharp decline in its energy supply due to political tumults along with economic mismanagement and international sanctions. By late 2024, the oil and gas production outlook in Venezuela indicates an intertwined layer of challenges and gradual improvement, impacting both local affairs and exports.

US policy of maximum pressure a failed experiment, says Paknejad

SHANA (Tehran) – Iran’s oil minister emphasized the diversification of the country’s crude oil sales portfolio, stating that the policy of maximum pressure is a repetitive slogan by the US and a failed experiment.

Power plants lead gas consumption: Over 1.7 bcm in seven days

SHANA (Tehran) – The total gas delivered to power plants, major industries, and the residential and commercial sectors from May 6 to 12 exceeded 4.436 billion cubic meters (bcm), with power plants receiving over 1.758 bcm—the largest share.

Gov't spox:

Caspian Sea oil drilling begins after 30 years, oil Ministry leads effort

SHANA (Tehran) - The government spokesperson announced that shallow oil well drilling operations have begun along the Caspian Sea coast after nearly 30 years, praising the efforts of the Oil Ministry’s staff.  

Iran, Iraq stress need to expand joint cooperation

SHANA (Tehran) – Iran’s oil minister and Iraq’s electricity minister emphasized bilateral relations and joint cooperation during an official meeting.

Iran Oil Show 2025 showcases Iranian energy sector strength

SHANA (Tehran) – The head of the Iranian Parliament’s Energy Committee emphasized the bright outlook for the oil, gas, refining, and petrochemical industries, stating that the oil exhibition is a display of Iran’s strength in the energy sector.

Investment in upstream oil sector key to economic growth

SHANA (Tehran) – The vice chairman of the Iranian Parliament’s Energy Committee said investment in the upstream oil sector is a strategic move that drives economic growth, improves livelihoods and enhances public services.

Constructive cooperation of Oil Ministry in Implementing Clean Air Law obligations

SHANA (Tehran) – The head of the Department of the Environment said the Oil Ministry has had appropriate and effective cooperation with the organization in fulfilling the obligations of the Clean Air Law.

NIOC head stresses collaboration, precision in financial management

SHANA (Tehran) – The CEO of the National Iranian Oil Company (NIOC) described financial affairs as one of the most complex yet critical pillars of the company, stating that financial management demands precision, insight, and comprehensive coordination.

$200m investment to capture flare gas  

SHANA (Tehran) - The CEO of Hoveyzeh Persian Gulf Gas Refining Company announced development plans in the upstream sector aimed at ensuring stable feedstock for petrochemical plants. The company has prioritized capturing associated gas from the Darkhovein and West Karun gas fields.  

Iran Oil Show symbolizes self-reliance, inspires hope

SHANA (Tehran) – The director-general of public relations at the Ministry of Oil said one of the key goals of the oil exhibition is to strengthen self-confidence and inspire hope among the country’s technical experts. He noted that around $200 million in contracts for first-time domestic production were signed with knowledge-based companies during the event.

BIPC invests to complete value chain

SHANA (Tehran) – The CEO of Bandar Imam Petrochemical Complex (BIPC) said the company’s investment in the Marun Petrochemical Diamond Project is a key step toward completing the value chain for its products.

Oil minister reports on Iran Oil Show 2025 at cabinet meeting

SHANA (Tehran) – Oil Minister Moussen Paknejad provided a detailed report on the 29th International Oil, Gas, Refining, and Petrochemical Exhibition (Iran Oil Show 2025) during a cabinet meeting on Sunday afternoon, May 11.

$100m in first-time production contracts signed at Iran Oil Show 2025

SHANA (Tehran) – The CEO of the National Iranian South Oil Company (NISOC) said the total value of four first-time production contracts signed at the oil exhibition was about $100 million.

$1b gas field development contract inked

SHANA (Tehran) – A contract to develop the Gouran and Pazan gas fields was signed between the National Iranian Oil Company (NIOC) and three domestic companies on the final day of the 29th Iran International Oil, Gas, Refining, and Petrochemical Exhibition.

Head of Mostazafan Foundation visits Iran Oil Show 2025

SHANA(Tehran) - Major General Hossein Dehqan, Sunday, May 11, on the final day of the 29th International Oil, Gas, Refining & Petrochemical Exhibition (Iran Oil Show 2025), visited the exhibition booths accompanied by Hamid Bovard, Managing Director of the National Iranian Oil Company.

MoU signed Khayam gas field development

SHANA (Tehran) - A memorandum of understanding was signed between National Iranian Oil Company and Farzanegan Energy Pars for the development of the Khayyam gas field, with a $450-million investment on the last day of the 29th International Oil, Gas, Refining & Petrochemical Exhibition (Iran Oil Show 2025).

Caspian Sea deepwater drilling project to resume

SHANA (Tehran) – The CEO of Khazar Exploration and Production Company (KEPCO) announced the resumption of exploratory activities in the shallow waters of the Caspian Sea after 28 years, adding that a return to deepwater drilling is also on the agenda. A semi-submersible platform, which had been completely idle since 2014, will return to operation after necessary repairs.

PBO: Oil industry is driving force of Iran's economy

SHANA (Tehran) – The head of Iran’s Plan and Budget Organization described the oil, gas, refining and petrochemical industries as the driving force of the country’s economy, stating, "Our top priority in the ‘Year of Investment for Production’ is special attention to the energy sector."

NPC: 15 petchem projects worth $6b to come online in 1404

SHANA (Tehran) –The CEO of the National Petrochemical Company announced the launch of 15 petrochemical projects worth $6 billion in 1404 (2025-26), adding three new products to Iran’s petrochemical portfolio.