oil
-
Maroun oil/gas output to rise 5%
Maroun Oil and Gas Production Company (MOGPC) is expected to see its oil and gas production grow 5% as new modifications are under way in its pipelines. Qobad Nasseri, CEO of MOGPC, told “Iran Petroleum” that plans were also under way to end the flaring of 40 mcf/d of associated petroleum gas.
-
Transition to New Order in Oil Market?
TEHRAN (Shana) -- The Iranian Petroleum Ministry’s Directorate of OPEC and Int’l Energy Fora has analyzed the oil market to conclude that last year’s developments gave rise to a new tug-of-war, which will soon result in a new balance of forces. In the new order envisaged for the oil market, Western governments will see their monopoly decline on the oil market which would turn into a regional market with a lower level of integration. However, the trans-Atlantic energy market between North America and Europe is projected to show further integration.
-
2022 Oil Market Review and 2023 Forecast
TEHRAN (Shana) -- As the international oil market warms up for 2023 let’s take a look at major events that had immense impact on the world oil markets in 2022. The global energy market was just done with Pandemic that hit demand in early 2020 jeopardizing the supply chain most severely. Producing countries need to be praised and acknowledged for the wonderful job of adjusting skillfully with the demand destruction leading to a swift balance in the market. However, early in 2022 the international oil and energy market was confronted with a severe blow when the Russian conflict with Ukraine broke out on 24 February 2022.
-
Gas, Iran Bargaining Chip
TEHRAN (Shana) -- Iran's gas export and equations for the transfer of theclean energy to its neighboring countries is a program that is being pursued more and more by the PetroleumMinistry. In the latest move, Iran's Minister of Petroleum Javad Owji has held intensive negotiations with senior Turkish officials to extend the gas and energy trade agreement, which seems to be a very important issue in the economic relations between the two countries.
-
Jask Oil Terminal Guarantees Continued Oil Exports: Official
TEHRAN (Shana) -- The head of the Iran Oil Terminals Company (IOTC) said: “Jask Oil Terminal, as a national and strategic project under the management of the administration and the leadership of the National Iranian Oil Company (NIOC) in the Sea of Oman, guarantees the continuation of crude oil exports, decentralization in the field of oil exports, and increased bargaining power and job creation.”
-
Tehran, Beijing Cooperation Favorable for Future of Iran
TEHRAN (Shana) -- A member of the Energy Committee of the Islamic Parliament said: “Today, the economic cooperation between Iran and China is more coherent than ever, and the recent visit of the president to this country can bring good results for Iran.”
-
Iran Can be Supplier of China's Energy Demand: Expert
TEHRAN (Shana) -- An expert on energy issues said since the driving engine of China's economy is the energy sector and Iran also has stable sources of energy, the latter could easily meet China's needs.
-
NIOC, Sinopec in talks for Phase-2 of Yadavaran Oilfield
TEHRAN (Shana) -- The director of investment and business of the National Iranian Oil Company (NIOC), emphasizing that the 13th administration, unlike the previous administration, has a strategic view of old partners such as China and Russia, stated: “Since the beginning of the 13th admonition, regular negotiations have been held with China's Sinopec Company regarding the second phase development of Yadavaran field.
-
Development of Oil, Gas Fields in Central Regions Accelerating: CEO
TEHRAN (Shana) -- The CEO of the National Iranian Oil Company (NIOC) emphasized the need to accelerate the maintenance of the production capacity of the fields operated by the Iranian Central Oil Fields Company (ICOF), and said: “The vision outlined for this company is to increase gas production to 142 million cubic meters per day.”
-
3%, Share of Knowledge-Based Economy in GDP
TEHRAN (Shana) -- The Deputy Head of Technology of the Oil and Gas Park said: “Until the past few years, the gross domestic product from the knowledge-based sector was a small figure of about one-tenth to two-tenths of a percent, but in the past few years, this issue has become more serious and has accounted for a larger share of the gross domestic product. Recent figures indicate a three percent share of the knowledge-based economy in the GDP.”
-
Gachsaran Oil Output up 180,000b/d
TEHRAN (Shana) -- The CEO of Gachsaran Oil and Gas Production Company announced the daily increase of 180,000 barrels of oil with the use of skid-mounted crude oil processing unit in this company.
-
Preventing Sale of Iran Oil by Enemies Failed: Representative
TEHRAN (Shana) -- A member of the Expediency Council and representative of the Supreme Leader in the Supreme National Security Council said: “The enemies announced that you cannot sell oil, but given the budget bill 1401 and 1402 and the amount of oil announced in it, we can sell it, and the budget is adjusted based on that.”
-
Southern Azadegan Oil Output up 45,000 b/d
TEHRAN (Shana) -- The CEO of Petroleum Engineering and Development Company (PEDEC), while explaining the actions taken by this company in the South Azadegan field, announced the increase in daily production of crude oil by 45,000 barrels/day over the past year.
-
NISOC inks MoU with Basra Oil Company
TEHRAN (Shana) – National Iranian South Oil Company (NISOC) signed a memorandum of cooperation on the sidelines of the 13th Khuzestan Oil Industry Equipment Manufacturing Exhibition with Basra Oil Company (BOC).
-
AOGC signs 6 Cooperation MoUs, 3 Contracts
TEHRAN (Shana) -- Arvandan Oil and Gas Company (AOGC) signed 6 cooperation memoranda of understanding (MOU) and 3 contracts on the 3rd day of the 13th Ahvaz Oil Industry Equipment Manufacturing Exhibition.
-
Showcase of Newly-Built Oil Items Kicks off
TEHRAN (Shana) -- The exhibition of knowledge-based equipment and oil industry items built domestically for the first time was inaugurated in the presence of the chairman of the board of directors of the Oil Industry Pension Funds.
-
$1.2b of oil revenue deposited in NIMA System since Dec. 22
TEHRAN (Shana) -- The economic spokesman of the administration said since December 22, a total of $6.2 billion of hard currency has been offered in the NIMA system, of which $1.2 billion is from the sale of crude oil and $1.7 billion from petrochemical sales.
-
Most Iran-made South Pars Refinery to Startup Soon
TEHRAN (Shana) – The CEO of the National Iranian Oil Company (NIOC), emphasizing that the most Iranian-made South Pars refinery is about to be launched in phase-14 of the massive offshore gas field.
-
Number of KBCs Double in Khuzestan Oil Exhibition
TEHRAN (Shana) -- The CEO of Arvandan Oil and Gas Company said the number of knowledge-based companies in the 13th specialized exhibition of Khuzestan oil industry equipment manufacturing has doubled since the last edition of the fair.
-
Iran Potential Oil Output at 7.4mbd: Economist
TEHRAN (Shana) -- The head of the economic group of the Supreme Leader's Office stated that Iran has the ability to reach the crude oil daily production capacity of 7.4 million barrels, saying: “We are an oil country, we cannot lag behind the countries that are planning to increase their production capacity.”
-
Tehran, Caracas should Implement Energy MOUs: FM
TEHRAN (Shana) – The Iranian Minister of Foreign Affairs emphasized the development and strengthening of cooperation with Venezuela, especially implementation of understandings in the field of energy.
-
Iran launched $3b Oil Projects in South
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji announced the exploitation and the start of executive operations of nearly $3 billion of oil project in the southern province of Hormuzgan.
-
Iran Joins Club of Sponge Coke Producers
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said Iran has joined the 6 countries that possess the know-how of producing sponge coke in the world.
-
Export/Import Terminal of Shahid Rajaei Port Launched
TEHRAN (Shana) -- Sepahan Oil Company's export and import terminal of Shahid Rajaei Port was put into operation on Saturday by video conference with the order of the Minister of Petroleum.
-
Iran Hard Currency Reserves Reliable: President
TEHRAN (Shana) -- The President said: “I assure the people and economic activists that we have good and reliable hard currency reserves and the money from the sale of oil returns to the country.”
-
Mothballed Oil Wells Rehabilitation
TEHRAN (Shana) -- National Iranien Oil Company (NIOC) has long focused on developing technologies to enhance recovery from oil wells. Although sanctions have posed an obstacle in its way, it aims to cut short the way to its objective by embarking on a quick-yielding project for the rehabilitation of low-output and abandoned wells. In this manner, by spending much less than drilling new wells, NIOC would be able to enhance its crude oil output. Without enhancing oil output, no future may be envisaged for enhanced oil recovery (EOR) projects. Therefore, the important thing would be to enhance production in any possible manner. Internationally speaking, more oil production would empower Iran to become more influential in the oil market while remaining resilient to challenges and restrictions because in the economic and political structure of the world energy, oil barrels have the final say.
-
Iran Hydrocarbon Reserves Estimated at 16 BBL
TEHRAN (Shana) -- The director of exploration at National Iranian Oil Company (NIOC), Mehdi Fakour, has said that Iran was estimated to sit atop 16 billion barrels of hydrocarbon reserves.
-
Investment in Crude Oil Storage Capacity
TEHRAN (Shana) -- A meeting was held to introduce opportunities for investment in crude oil storage tanks construction and operation, required by National Iranian Oil Company (NIOC), within the framework of public-private partnership (PPP). This is the first time the private sector is given the chance for investment in the crude oil storage sector. NIOC intends to enhance its crude oil storage capacity by 7.7 million barrels.
-
Will 2023 See Oil Market Prosper?
TEHRAN (Shana) -- With the beginning of 2023, the developments of the oil market in 2022 and the perspective of the New Year have been reviewed. The idea is to examine the factors affecting the market. It must be acknowledged that 2022 experienced ups and downs in the oil market and profound changes have taken place in this market. These developments have caused the 2023 Outlook to have many uncertainties, and as a result, many reputable institutions have doubts in their forecasts, and most institutions are waiting for market stability.
-
Iran can cooperate with Algeria in Oil, Gas Studies: Speaker
TEHRAN (Shana) -- The Speaker of the Iranian Parliament said: “Iran and Algeria have the possibility to cooperate in the field of knowledge-based issues and infrastructure and energy studies, especially oil and gas.”