Shana

Representatives from 30 countries to attend Iran’s Upstream Oil Investment Transformation Event

SHANA (Tehran) – Representatives from 30 countries across Europe, South America, Asia and Africa have expressed readiness to attend Iran’s Upstream Oil and Gas Investment Transformation event.

Convergence of oil and politics: From Muscat to Tehran

SHANA (Tehran) – As Iran’s foreign policy team negotiates to lift sanctions, the Ministry of Oil, tasked with energy diplomacy, has been actively preparing to attract both domestic and international investors.

Iran's oil production up by 12,000 bpd in March, OPEC reports

SHANA (Tehran) - According to OPEC's latest monthly report, Iran's crude oil production increased by 12,000 barrels per day (bpd) in March, reaching 3.335 million bpd. 

Paknejad:

Iraqi fields to supply feed for Iran’s NGL units

SHANA (Tehran) – Iran’s oil minister announced the signing of a memorandum of understanding to transfer feed for domestic natural gas liquids (NGL) units from fields near the Iran-Iraq border into the country.

Iran, Iraq ink MoUs to enhance joint cooperation

SHANA (Tehran) – Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani Al-Sawad, received Iranian Oil Minister Mohsen Paknejad on Monday. During the meeting, prospects for joint cooperation between the two countries were discussed.

NIOPDC enjoys 16,000 road tankers in service; fleet stretches 176 kilometers

SHANA (Tehran) – The National Iranian Oil Products Distribution Company (NIOPDC) operates approximately 16,000 road tankers and 2,635 rail tankers. The company's road fleet, if lined up, would stretch about 176 kilometers—equivalent to the distance between Tehran and Amol or Chalus.

Iran’s oil minister arrives in Baghdad

SHANA (Tehran) – Iran’s Oil Minister Mohsen Paknejad arrived in Baghdad on a two-day visit to discuss expanding energy cooperation between Iran and Iraq.

Iran Oil Show: A golden opportunity for int’l cooperation

SHANA (Tehran) – The deputy minister of international affairs and commerce for Iran’s oil minister emphasized the importance of energy diplomacy, stating that the upcoming Tehran International Oil, Gas, Refining, and Petrochemical Exhibition (Iran Oil Show) offers unparalleled opportunities to expand global cooperation in the industry.

Triple proposal to attract oil giants: Reform, revision, diplomacy

SHANA (Tehran) – A former deputy international affairs minister at Iran’s Oil Ministry stated that domestic resources alone cannot meet the developmental needs of the oil industry, proposing three key measures: reforming decision-making structures, revising contractual models, and a strategic return to diplomatic engagement to facilitate the entry of major global oil companies into Iran’s energy sector.

ICOFC says investment opportunities worth $9b up for grab

SHANA (Tehran) – The CEO of the Iranian Central Oil Fields Company (ICOFC) said the company has prepared 11 investment packages worth approximately $9 billion to develop gas fields. Once operational, these projects will increase the country's daily gas production capacity by 100 to 140 million cubic meters.

Iranian oil minister to visit Iraq

SHANA (Tehran) - Iran’s Oil Minister Mohsen Paknejad announced he will travel to Iraq in the coming days, highlighting strong bilateral relations and cooperation in various fields, particularly in the oil industry and joint energy projects.  

NIORDC on track of reform: From imbalances to unfinished projects

SHANA (Tehran) – The CEO of the National Iranian Oil Refining and Distribution Company (NIORDC) outlined the company’s key initiatives for the Iranian year 1403 and upcoming plans for 1404, including completing unfinished projects, reducing fuel smuggling, and increasing production of petroleum products.

Oil Ministry boosts gas supply to industries, delivers 6.5 bcm in 18 days

SHANA (Tehran) - Gas delivery to Iran’s industrial sectors increased in Farvardin 1404 (March 21–April 7, 2025) after successfully overcoming winter shortages and supply constraints. This marks a strong start for the production sector in the "Year of Investment for Production," as declared by the country’s leadership. 

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.

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.

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.

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."

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.

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."

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.

Paknejad:

JMMC plays great role in maintaining oil market stability, balance 

SHANA (Tehran) - The oil minister expressed confidence that the OPEC+ Joint Ministerial Monitoring Committee (JMMC) will assist member countries in playing an active, precise, and cautious role in the oil market by leveraging its experience in accurately assessing market developments.  

Accelerating gas industry development: Focus on key projects and domestic capabilities

SHANA (Tehran) – The caretaker of Iran Gas Engineering and Development Company reported progress on key projects and plans to expedite their operation, stating that sanctions have led domestic manufacturers to focus more on their capabilities but emphasized the need to improve product quality.

Gov’t advances major oil industry project with $17b gas pressure boost deal

SHANA (Tehran) – In the final days of the Iranian year 1403 (March 2025), the Oil Ministry signed nearly $17 billion in contracts with four domestic companies to build, install, and operate gas pressure booster platforms in the South Pars gas field—the world’s largest. This marks the first step in sustaining production and preventing a future gas crisis.

ICOFC: From gas field development to key project launches

SHANA (Tehran) – The CEO of the Iranian Central Oil Fields Company (ICOFC) outlined the company’s major achievements in 1403 and announced plans for technical and contractual negotiations to develop 16 gas fields and launch key projects in 1404.

POGC:

Work never stops in Iran’s energy hub—even during Nowruz

SHANA (Tehran) – The CEO of Pars Oil and Gas Company (OGC) announced that 70% of Iran’s natural gas, 50% of petrochemical feedstock, and 40% of the feedstock needed for gasoline production come from the South Pars joint field.

Self-sufficiency under sanctions: a technological leap in Iran’s oil industry

SHANA (Tehran) – The deputy oil minister for engineering, research and technology cited first-time production achievements and innovations in financing tools for new technology-based firms (NTBFs) as two key accomplishments of the Oil Ministry in the Iranian year 1403 (2024-25).

Refinery projects prioritized

SHANA (Tehran) - The oil minister emphasized prioritizing refinery projects based on available capital, stating that attracting public investment for small-scale refinery projects is a key focus, in line with the Leader’s designation of the Iranian year 1404 (2025-26) as the "Year of Investment for Production."  

Gasoline consumption rises 8% during Nowruz holidays

SHANA (Tehran) - Oil Minister Mohsen Paknejad announced an 8% increase in average daily gasoline consumption during the Nowruz holidays compared to the same period last year, stating that fuel reserves are currently at a strong level.

From gas supply to gasoline production

SPGC plays key role in boosting Iran’s economy

SHANA (Tehran) - The CEO of South Pars Gas Complex (SPGC) highlighted the facility’s vital role in Iran’s economic growth, stating that in the past Iranian year (1403, ended March 20), the complex produced over 243 million barrels of gas condensates, more than 606,000 metric tons of granulated sulfur, over 2.5 million metric tons of butane, about 3.7 million metric tons of propane, and more than 1.8 million metric tons of ethane.