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Raeisi urges specialized working group formation to redress energy imbalance
SHANA (Tehran) – Iran’s President Seyyed Ebrahim Raeisi on Wednesday assigned the oil and energy minister to form specialized working groups to redress energy imbalance.
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Iran’s productivity chief: Country looks to oil industry for economic growth
SHANA (Tehran) – The National Productivity Organization of Iran head said the country looks to the oil industry – the industry of work and efforts – for economic growth.
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MP: Oil Ministry performance in energy diplomacy ‘successful’, ‘transformational’
SHANA (Tehran) – A member of Iran’s Parliament on Wednesday described the Oil Ministry’s performance in the energy diplomacy as “successful” and “transformational”.
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Leader: Upstream oil, gas industry provides plenty of opportunity for private sector participation
SHANA (Tehran) – Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei said on Tuesday the upstream sectors of industries such as oil, gas, and steel, and professions like handicrafts provide plenty of opportunity for the participation of the private sector.
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Knowledge-based companies, NIGC sign €500m contract: VP
SHANA (Tehran) – Iran’s Vice President for Science, Technology and Knowledge-Based Economy Rouhollah Dehqani Firouzabadi on Monday said a 500-million-euro contract has been signed with the National Iranian Gas Company (NIGC).
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Oil up on Middle East tensions
Oil prices edged higher on Tuesday following a more than 1% drop in the previous session as escalating tensions in major producing region the Middle East fuelled supply concerns, though a bleak Chinese economic outlook limited gains.
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Owji gives Leader report on oil industry’s achievements
SHANA (Tehran) – Iran’s Oil Minister Javad Owji gave Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei a report on the oil industry’s main achievements under the 13th administration on Monday.
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Contracts for eight projects in joint oil, gas fields to be signed during revolution anniversary festivities: Owji
SHANA (Tehran) – Iran’s oil minister said contracts for implementing eight projects worth $14 billion in joint oil and gas fields will be signed during the Ten-Day Dawn (February 1-11) festivities marking the 45th anniversary of the victory of the Islamic Revolution.
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Iran’s oil, gas industry productivity growth hits 16.3% under 13th administration
SHANA (Tehran) – Iran’s oil and gas industry has witnessed a 16.3 percent productivity growth under the 13th administration during the 6th National Development Plan (ending March 19, 2024).
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Over 850 mcm gas injection into national grid sets new daily record, says minister
SHANA (Tehran) – Iran’s Oil Minister Javad Owji said record 851 million cubic meters (mcm) of gas were injected into the national network on Saturday.
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NIOC eyes 1.5 bcm/d gas production capacity with over $70b investment: CEO
SHANA (Tehran) – The National Iranian Oil Company managing director said on Friday NIOC plans to invest more than $70 billion in the coming years to increase the country’s gas production capacity to 1.5 billion cubic meters per day (bcm/d).
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Raeisi says Iran-Türkiye energy exchange obstacles will be removed by careful planning
SHANA (Tehran) – Iran’s President Seyyed Ebrahim Raeisi said on Wednesday the obstacles to energy exchanges between his country and Türkiye will be overcome with careful planning.
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Iran, Türkiye sign energy cooperation document
SHANA (Tehran) – Iran and Türkiye signed a document to cooperate in the energy sector in Ankara on Wednesday.
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Iran targets $30b annual trade with Türkiye: Raeisi
SHANA (Tehran) – Iran seeks to increase its annual trade with Türkiye to $30 billion, said President Seyyed Ebrahim Raeisi on Wednesday.
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Owji in Ankara to boost Iran-Türkiye energy cooperation
SHANA (Tehran) – Iran’s Oil Minister Javad Owji is in Türkiye to hold talks on the expansion of energy ties between the two countries.
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Over 98% of Yadavaran oil field’s flare gases collected
SHANA (Tehran) – More than 98 percent of flare gases of the Yadavaran oil field have been collected and sent to NGL 3200 plant, said the development plan director on Monday.
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OPEC’s December basket price down by 7%
The OPEC Reference Basket (ORB) value fell by $5.92, or 7.0%, m-o-m in December, to average $79/b.
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IEA: Iran accounts for 12% of OPEC nine-month revenues
Iran’s oil revenues neared $34 billion in the first nine months (January-September) of 2023 despite brutal U.S. sanctions, accounting for 12 percent of OPEC member states’ total income.
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Oil prices rise on strong IEA and OPEC demand estimates
Oil prices rose on Thursday as the IEA joined producer group OPEC in forecasting relatively strong growth in global oil demand this year, with price impetus also coming from disruption to U.S. output and geopolitical risks in the Middle East.
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Iran’s oil minister, Turkmen president discuss further cooperation
SHANA (Tehran) – Iranian Oil Minister Javad Owji and Turkmenistan’s President Serdar Berdimuhamedov and high-ranking officials held talks on the expansion of bilateral cooperation in Ashgabat on Thursday.
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Owji: Five big petrochemical projects to come on stream within two months
SHANA (Tehran) – Iran’s Oil Minister Javad Owji said on Wednesday five big petrochemical projects will become operational by the end of the current Iranian calendar year (March 19, 2024).
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Iran’s petchem industry welcomes but does not wait for foreign investment: Deputy oil minister
SHANA (Mahshahr) – Iran’s National Petrochemical Company (NPC) managing director said on Tuesday the country’s industry welcomes foreign investment but does not wait for foreign companies’ participation in its development projects.
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NIOC chief says oil, gas production in Iran will continue for next 100 years
SHANA (Tehran) – Oil and gas production in Iran, thanks to its current reserves, will continue for the next 90-100 years, said the National Iranian Oil Company (NIOC) managing director on Tuesday.
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Iran’s NISOC says ready to participate in Iraq’s oil projects
SHANA (Ahvaz) – The National Iranian South Oil Company (NISOC) on Monday expressed its readiness to participate in various projects of Iraq.
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Africa’s biggest oil refinery begins production in Nigeria
Africa’s biggest oil refinery has begun production in Nigeria, the company has said, ending a years-long wait for a plant that analysts said Monday could boost refining capacity in a region heavily reliant on imported petroleum products.
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Iraq's oil minister: OPEC+ working to limit challenges affecting oil market stability
The OPEC+ group of oil producers is working to limit the challenges affecting the stability of the global oil market, Iraq's Oil Minister Hayan Abdel-Ghani.
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Raeisi: Oil Ministry curbing gas flaring, getting cooperation from over 600 knowledge-based firms
SHANA (Tehran) – Iran’s President Seyyed Ebrahim Raeisi said on Monday the Oil Ministry under the 13th administration is eliminating gas flaring.
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APG collection achieves 70% progress; all to be gathered by end of winter 2026: NIOC chief
SHANA (Ahvaz) – The National Iranian Oil Company (NIOC) managing director on Sunday said projects for collecting associated petroleum gas (APG) have attained 70 percent physical progress.
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Iran says exporting gas to Iraq as planned
SHANA (Tehran) – The dispatching director of the National Iranian Gas Company (NIGC) on Saturday said gas export to Iraq is continuing according to the agreement.
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China's 2023 crude oil imports hit record as fuel demand recovers
China's annual crude oil imports hit an all-time high in 2023, customs data showed on Friday, as fuel demand recovered from a pandemic-induced slump despite economic headwinds.