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Lawmakers laud 13th administration’s energy record
SHANA (Tehran) – A number of Iranian lawmakers hailed the 13th administration’s performance in the energy sector.
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Oil slides more than 1% as Middle East tensions ease
Oil prices slid more than $1 a barrel on Monday, with Brent falling below $90, as Middle East tensions eased after Israel withdrew more soldiers from southern Gaza and committed to fresh talks on a potential ceasefire in the six-month conflict.
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NPC chief says workshops will be formed to spur surge in production
SHANA (Tehran) – Iran’s National Petrochemical Company (NPC) managing director said on Sunday workshops will be formed to realize the slogan of 1403 solar year (starting March 20, 2024) designated by the Leader as the year of “Surge in Production Through People’s Participation”.
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MP: Investments in oil industry promising
SHANA (Tehran) – A member of Iran’s Parliament said increasing investments, development of oil fields, and infrastructure measures in the oil industry are among promising economic moves.
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Brent settles above $90 for first time since October on geopolitical tension
Oil prices extended gains on Thursday, settling up more than $1 as geopolitical tensions and output cuts outweighed caution about U.S. Federal Reserve rate cuts.
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Owji: Resistance front’s actions deter energy exports to occupied territories; Zionist regime’s economic collapse imminent
SHANA (Tehran) – Iran’s oil minister said on Friday the resistance front’s actions in vital crossings have deterred energy exports to the occupied Palestinian territories.
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Iran’s 5.4% economic growth in 2023 second-highest in world: PBO chief
SHANA (Tehran) – Iran’s Plan and Budget Organization (PBO) Head Davoud Manzour posted on X, formerly known as Twitter, that the country’s 5.4 percent economic growth in 2023 reported by the International Monetary Fund (IMF) was the second-highest rate in the world.
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Owji: Turkish companies’ presence in Iran’s oil industry welcome
SHANA (Tehran) – Iran welcomes Turkish companies’ participation in projects of its oil industry, said Oil Minister Javad Owji on Thursday.
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OPEC+ ministers keep output policy steady as oil rallies
A meeting of the top OPEC+ ministers kept oil output policy unchanged and pressed some countries to boost compliance with output cuts, a decision that spurred international crude prices to their highest in five months at nearly $90 a barrel.
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Iran’s annual oil exports hit nearly $36b: IRICA chief
SHANA (Tehran) – Oil exports in the previous Iranian calendar year, which ended on March 19, fetched the country $35.87 billion, said the Islamic Republic of Iran Customs Administration (IRICA) head on Tuesday.
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Economic growth has nothing to do with oil price hikes: Khandouzi
SHANA (Tehran) – Rise in oil prices does not contribute to improvement of economic growth, said the Iranian government’s economic spokesman on Tuesday.
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Saudi Arabia may hike May crude oil prices to Asia
Top oil exporter Saudi Arabia may raise the official selling price (OSP) for flagship Arab Light crude in May after Middle East benchmarks strengthened last month, industry sources said.
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OPEC oil output falls in March, led by Iraq – Reuters survey
OPEC oil output fell last month, a Reuters survey found on Monday, reflecting lower exports from Iraq and Nigeria against a backdrop of ongoing voluntary supply cuts by some members agreed with the wider OPEC+ alliance.
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Oil Ministry creates stable market for knowledge-based companies: Official
SHANA (Tehran) – Iran’s Oil Ministry has created a stable market for knowledge-based companies, said a ministry official on Monday.
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U.S. crude output falls 6% in January due to severe cold, EIA says
U.S. crude oil production dropped in January to 12.5 million barrels per day (bpd), a 6% decline from December's record high, following freezing weather, data from the Energy Information Administration showed on Friday.
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Novak: Russia will cut oil output in Q2 to catch up with other OPEC+ countries
Russia has decided to focus on reducing oil output rather than exports in the second quarter in order to evenly spread production cuts with other OPEC+ member countries, Deputy Prime Minister Alexander Novak said on Friday.
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Gas exports to Iraq fetched Iran $15b, says deputy minister
SHANA (Tehran) – Iran has earned $15 billion from exporting some 52 billion cubic meters (bcm) since 2017, said the deputy oil minister.
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Over 1,500 domestic, 250 foreign companies to participate in Iran Oil Show 2024
SHANA (Tehran) – More than 1,500 domestic and 250 foreign companies will take part in the 28th Iran International Oil, Gas, Refining and Petrochemical Exhibition, also known as Iran Oil Show 2024, said the public relations manager of the National Iranian Oil Company (NIOC) on Thursday.
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Contract on Iran gas exports to Iraq extended
SHANA (Tehran) – Tehran and Baghdad extended a contract on exporting Iran’s gas to Iraq for five years on Wednesday.
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Pakistan: Iran's gas project ‘need of the hour’
SHANA (Tehran) – Pakistan's Petroleum Minister Musadik Malik said Islamabad's position on the gas transfer project with Iran is not merely an expression of desire but "the need of the hour".
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Iran says will speed up APG collection process, inaugurate NGL 3100 plant soon
SHANA (Tehran) – Iran’s oil minister said on Wednesday the process of gathering associated petroleum gas (APG) will be accelerated in the Persian New Year (starting March 20).
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Two refining projects inauguration, Shahid Soleimani plant operations imminent: NIORDC chief
SHANA (Tehran) – The National Iranian Oil Refining and Distribution Company (NIORDC) managing director said two refining projects will be inaugurated by mid-June.
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Oil, gas industry development main factor in Iran’s economic growth, says MP
SHANA (Tehran) – A member of the Iranian Parliament’s Energy Committee said the development of the oil and gas industry was the main factor in domestic economic growth in the previous Iranian calendar year of 1402 (March 21, 2023-March 19, 2024).
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Owji emphasizes people’s capacities, upstream contracts’ role in production surge
SHANA (Tehran) – Iran’s Oil Minister Javad Owji put great emphasis on making use of people’s capacities.
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Lawmaker sees bright future for Iran oil industry
SHANA (Tehran) – A bright future is awaiting Iran’s oil industry, said the Parliament’s Energy Committee vice-chairman on Sunday.
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MP: Oil Ministry in the lead on utilizing knowledge-based firms’ capacities
SHANA (Tehran) – The Oil Ministry led other ministries in terms of applying the expertise of knowledge-based companies in the Iranian calendar year of 1402, which ended on March 19, said a member of the Parliament on Saturday.
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Iran’s oil sector economic growth indicator of sanctions failure: MP
SHANA (Tehran) – The oil sector’s economic growth in the previous Iranian calendar year (ending March 19) shows that the sanctions imposed on the industry have failed, said a member of the Parliament.
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Islamabad says committed to Iran-Pakistan gas pipeline project
SHANA (Tehran) – Pakistan’s Foreign Ministry spokesperson has reacted to recent remarks by U.S. Assistant Secretary for South and Central Asian Affairs Donald Lu on her country’s joint gas pipeline project with Iran.
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Putin: Successful holding of Iran-Russia Joint Economic Cooperation shows promotion of cooperation
SHANA (Tehran) – Russian President Vladimir Putin said the successful holding of the 17th Joint Economic Commission between the Islamic Republic of Iran and the Russian Federation in Tehran and the 77% growth in goods trade are positive signs of the promotion of bilateral cooperation.
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Leader: Mobilization of all resources a must for economic boom
SHANA (Tehran) – Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei on Wednesday urged mobilization of all resources and collective efforts by the entire nation to bolster economic growth.