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Project to Enhance/Maintain Productivity of Zilaei Field Online
TEHRAN (Shana) -- The executive operation of a plan to maintain and enhance production of the Zeilei Field has kicked off.
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Is Brent Crude Headed Towards $100 a Barrel?
TEHRAN (Shana) -- Since early December crude oil prices have staged an impressive comeback. Brent crude price has shot up from $40 a barrel in early December to $67.20 on 25 February 2021. The question is how high oil prices are destined to go this year and next.
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Biden and Future of Nord Stream 2
TEHRAN (Shana) -- The United States implemented its annual budget bill as the year 2021 started. It includes expansion of sanctions against the Nord Stream 2 gas pipeline.
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Azar Field Output at 65,000 b/d
TEHRAN (Shana) -- Iran invested over $1.4 billion in the jointly-owned Azar oil field despite US sanctions to lift oil output from this field to 71,500 b/d and that of gas to 78 mcf/d of Azar, containing both oil and gas, is one of the most challenging petroleum industry projects in Iran.
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Biggest Oil/Gas Opportunity in Iran
TEHRAN (Shana) -- Oil sanctions against Iran remain effective. But the country says it would export 2.3 mb/d of oil and condensate this year. Many experts believe that Iran’s return to the oil market is unlikely to cause any shock.
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OPEC+ 14th Ministerial Meeting Concludes
TEHRAN (Shana) -- The 14th Meeting of OPEC and non-OPEC Ministers took place via video conference on Thursday March 4, 2021, under the Chairmanship of HRH Prince Abdul Aziz bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Deputy Prime Minister of the Russian Federation.
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Zamaninia: OPEC+ Final Decision Was Ideal for April
TEHRAN (Shana) -- The final decision made for April was ideal, Iran’s Governor for OPEC, Amir Hossein Zamaninia, said after 14th OPEC and non-OPEC Ministerial Meeting held on Thursday via video conference.
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Zangeneh: Oil Market is Stable Currently
TEHRAN (Shana) -- Iran’s Minister of Petroleum, Bijan Zangeneh, said after the 14th OPEC and non-OPEC Ministerial Meeting held on Thursday via video conference that there is stability in oil market at present.
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OPEC+ Agrees to Keep 18 Members’ Oil Output Unchanged for April
TEHRAN (Shana) -- OPEC and its allies reached a compromise on Thursday on extending the current crude oil output cuts of 18 members for April, allowing Russia and Kazakhstan to raise their production by 150,000 bpd.
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14th OPEC+ Meeting Begins
TEHRAN (Shana) -- The 14th meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) began a few minutes ago.
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DoC JTC Discusses Oil Market Developments
VIENNA (Shana) -- The Joint Technical Committee (JTC) held its 49th meeting via videoconference in preparation for the 27th Meeting of the Joint Ministerial Monitoring Committee (JMMC) and the 14th OPEC and non-OPEC Ministerial Meeting (ONOMM) scheduled for Wednesday, 3 March 2021, and Thursday, 4 March 2021, respectively.
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Petchem Industry, Helpful under Sanctions: Rouhani
TEHRAN (Shana) – Iranian President Hassan Rouhani said: "During these years of economic warfare and sanctions, one of the places that came to our aid was the petrochemical industry."
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Minister Rejoices over Iran Activities in Joint Oil Fields
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said Iran’s current status in joint oil and gas fields is favorable, saying the country is currently producing 400,000 barrels per day of crude oil in the West Karoun Oilfields Cluster.
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Total Oil Output of Azar Joint Field at 36mb
TEHRAN (Shana) – Iran has so far produced over 36 million barrels of crude oil from Azar join oilfield, the executor of Azar Field’s development project announced.
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Rouhani Launches Azar Oil Field Development Plan
TEHRAN (Shana) – Iranian President Hassan Rouhani signed off on commissioning Azar oil field development project with a daily production capacity of 65,000 barrels of crude oil.
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Rouhani to Launch Azar Oil Field Development Plan
TEHRAN (Shana) -- The Azar oil field development project with a daily production capacity of 65,000 barrels of crude oil will be put into operation on Monday, February 29, 2021, in the presence of Iranian President Hassan Rouhani via video conference.
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Zaki Yamani, Oil Market Legend: Expert
TEHRAN (Shana) – Dr. Mamdouh G. Salameh, Non-Resident Fellow, Expert, the Economics of Oil and Energy, who is an international oil economist and a prominent expert on energy, described late Zaki Yamani as a legend in the global oil market.
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OPEC’s 8th International Seminar Postponed to 29-30 June 2022
TEHRAN (Shana) -- The Organization of the Petroleum Exporting Countries (OPEC) has postponed its 8th International Seminar until next year due to the COVID-19 pandemic. The Seminar, originally scheduled for 16-17 June 2021, will now be held on 29-30 June 2022 at the Hofburg Imperial Palace in Vienna, Austria.
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Key Drilling Item Localized
TEHRAN (Shana) -- A basic functional part in the drilling rig lifting equipment set was localized and operationalized in a joint venture between the specialists of the National Iranian Drilling Company and the Islamic Azad University of Ahvaz.
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Iran to Start Oil Production in Khesht Field Next Year
TEHRAN (Shana) – The CEO of the Iranian Central Oil Fields Company said plans were under way to start crude oil production at Khesht Oilfield in the first half of the next Iranian calendar year which starts on March 21, 2021.
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1st 3.2 MW Pump of Goreh-Jask Project Delivered
TEHRAN (Shana) -- The first 3.2-MW pump made in Iran, after successfully passing performance tests, was delivered to the Goreh-Jask crude oil transfer project and reached the installation site in Pumping House No. 2, located 50 km off Bushehr.
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1st SPM Loaded for Jask Oil Terminal
TEHRAN (Shana) -- The head of Jask Oil Terminal Project said the single point mooring, submarine multi-lane and the accessories of the early commissioning section of Jask Oil Terminal Project were loaded in Khorramshahr Industrial Yard.
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NIDC Drills 117 Oil, Gas Wells in One Year
TEHRAN (Shana) – The National Iranian Drilling Company (NIDC) has completed 117 oil and gas wells by drilling 85,616 meters during the past year.
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No talks on JCPOA, Zarif
TEHRAN (Shana) -- Iranian Foreign Minister Mohamad Javad Zarif has ruled out any new talks with the United States on the 2015 nuclear deal, underlining the need for the U.S. to make up its mind about Iran.
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Ab Teimour Up for Investment
TEHRAN (Shana) -- Although ten giant oil fields in Iran account for the bulk of Iran's oil production, they are all in the second half of their lifecycle as inadequate investment in them, over years, has left their recovery rate at a low level.
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FM Spokesman:
Developments positive on Iran Tanker in Indonesia
TEHRAN (Shana) -- A spokesman for the Ministry of Foreign Affairs said that the developments regarding the seized Iranian oil tanker in Indonesia have been positive.
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80% non-Rotating Equipment Domestically Made in Oil Industry: Zangeneh
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said more than 80% of the non-rotating equipment of the oil industry is made domestically.
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1st Meeting of High-Level Working Group to Review OPEC Long-Term Strategy Convened
TEHRAN (Shana) -- The first meeting of the high-level working group to review the long-term strategy of the Organization of the Petroleum Exporting Countries (OPEC) was held in the presence of representatives of OPEC member countries. The meeting was chaired by Amir Hossein Zamaninia, Iran's OPEC Governor.
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LPG Tanks of South Pars Phases 22 to 24 Online
TEHRAN (Shana) -- The CEO of Pars Oil and Gas Company announced the commissioning of two liquefied petroleum gas tanks at the refinery of South Pars phases 22 to 24 with a capacity of 80,000 cubic meters.
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Iran Oil Exports would be Zero without Zangeneh: CEO
TEHRAN (Shana) – The CEO of the National Iranian Tanker Company said Iran’s oil exports would have been zero had it not been because of the prudence of Iranian Minister of Petroleum Bijan Zangeneh.