Shana

Iran, Russia set to deepen economic ties before 19th Joint Commission

SHANA (Tehran) — Iran’s oil minister said Wednesday that the country is pursuing the outcomes of the 18th Iran-Russia Joint Economic Cooperation Commission and preparing to host the 19th session in Iran.

Iran inks $600m contract to develop Madar gas field

SHANA (Tehran) – Iran’s National Iranian Oil Co. signed a $600-million contract to develop and operate the Madar gas field with Isfahan’s Mobarakeh Steel Co. and the Oil Industries Engineering and Construction Co. (OIEC), the company announced.

Madar gas field development to begin soon

SHANA (Tehran) – The development of Iran’s Madar gas field will soon enter its execution phase, a project the head of the National Iranian Oil Company (NIOC) stated would help address the country's gas shortfall. Similar contracts are expected to be signed this year.

Oil Ministry forms task force to boost production technologies

SHANA (Tehran) – The Oil Ministry has established a special task force aimed at improving oil and gas production methods and tools, as well as developing enhanced recovery technologies, a senior official announced.

OPEC’s daily oil output up by 478,000 barrels in August

SHANA (Tehran) – According to the Organization of the Petroleum Exporting Countries' latest monthly report, OPEC’s daily oil production increased by 478,000 barrels in August to reach 27.5 million barrels per day.

OPEC at 65: A veteran player faces new challenges

SHANA (Tehran) – The former head of OPEC's petroleum studies department said that while various issues have reduced the cartel's power over time, he believes it will maintain a prominent position for the next 30 years if it makes rational decisions regarding oil and understands its true place in the global energy mix.

Iran aims to diversify crude sales, boost production with new technology

SHANA (Tehran) - The CEO of the National Iranian Oil Co. (NIOC) on Tuesday emphasized the need to diversify oil sales methods and increase production using new technologies and new technology-based firms.

Nowruz Oil Field production increases with offshore cable operation

SHANA (Tehran) – Oil production from the Nowruz field has increased by 1,500 barrels per day following the completion of a complex offshore power cable operation, according to an Iranian offshore oil company official.

Eight OPEC+ states announce additional voluntary adjustments

SHANA (Tehran) – The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on September 7, 2025, to review global market conditions and outlook, according to opec.org.

Iran boosts monthly oil exports by 630,000 barrels

SHANA (Tehran) — Iran’s oil exports have risen by an average of 630,000 barrels per month in the first four months of the current Iranian year compared with the same period in 1403, Oil Minister Mohsen Paknejad said Wednesday.

Sustaining oil production through infrastructure strengthening, private sector involvement

SHANA (Tehran) – The technical manager of the National Iranian South Oil Company (NISOC), while outlining the oil industry's development plans, announced that the main strategies for achieving sustainable production goals are focusing on undeveloped fields, well workovers, energy consumption management, and the implementation of desalination projects.

Iran targets €3.7b in upstream oil projects by year-end

SHANA (Tehran) – Iran’s oil industry aims to bring more than €3.7 billion worth of strategic projects online by the end of this year, focusing on boosting oil and gas production and processing capacity to ensure the country’s energy stability.

Iran sets oil export records despite sanctions, war

SHANA (Tehran) – Iran’s crude oil and condensate exports reached historic highs over the past 12 months despite the imposition of 14 new US sanction packages totaling 465 measures, including the largest oil sanctions since 2018.

Iran inaugurates major oil pipelines to boost energy security

SHANA (Tehran) – Iran has officially inaugurated two major oil pipelines, the Bandar Abbas-Rafsanjan and the Sabzeab-Shazand lines, in a ceremony led by President Masoud Pezeshkian and Oil Minister Mohsen Paknejad via video conference.

Paknejad:

Iran’s crude production capacity up by 127,000 bpd

SHANA (Tehran) - Iran’s crude oil production capacity has increased by 127,000 barrels per day over the past year, according to the country’s oil minister.

West Karun Oil Fields: Balancing rising production with sustainable development

SHANA (Tehran) – The CEO of Petroleum Engineering and Development Company (PEDEC) outlined the company’s strategic plans for developing the West Karun joint oil fields, highlighting key achievements over recent months. These include completing processing infrastructure, adopting advanced drilling technologies, capturing associated gas, and adhering to environmental regulations.

Iran sets new record for oil production

SHANA (Tehran) – The CEO of the National Iranian Oil Company announced the country has set a new record for oil production.

IEA confirms rise in Iran’s crude production

SHANA (Tehran) – The International Energy Agency reported that Iran’s crude oil production rose by about 200,000 barrels in July.

Tehran Oil Refinery projects accelerate under 14th administration

SHANA (Tehran) – The engineering manager of Tehran Oil Refining Company’s projects announced that the implementation of the refinery’s initiatives has been expedited under the 14th administration. Several projects, including urban wastewater treatment, industrial hexane production and connection to the national power grid, are set to launch in the coming months.

Oil Ministry appreciates media support during critical times

SHANA (Tehran) – The head of public relations at Iran’s Oil Ministry emphasized the need to strengthen specialized oil media outlets, acknowledging their effective role during sensitive periods, including the recent 12-day imposed war and other exceptional circumstances in recent years.

Oil Ministry enters path to decarbonize maritime fleet

SHANA (Tehran) – The secretary of the Iranian Maritime Engineering Society announced the first joint meeting between the Oil Ministry, the Petroleum University of Technology, and the Chemical Engineering Society to examine the requirements and opportunities for decarbonizing maritime transport. He stated that this meeting marks the beginning of defining national technological and research projects to reduce carbon emissions in the sector.

OPEC+ crude oil production rises by 335,000 barrels

SHANA (Tehran) – The combined crude oil production of OPEC and OPEC+ member countries reached 41.94 million barrels per day (bpd) last month, up 335,000 bpd from June’s output of 41.605 million bpd.

NISOC undertakes overhaul on more than 100 process units

SHANA (Tehran) – The National Iranian South Oilfields Co. (NISOC) has begun major overhauls on more than 100 processing units since early April, with 27 of them prioritized for their direct impact on oil production, the company’s head of industrial equipment and process machinery maintenance said.

Tehran Refinery moves toward sustainable water supply through wastewater treatment

SHANA (Tehran) – The operations manager of Tehran Oil Refining Company announced the launch of the first phase of the refinery’s wastewater treatment project, stating that approximately 15,000 to 20,000 cubic meters of municipal water have been replaced with treated water. Once fully operational, the project will not only meet the refinery’s entire water demand but also provide a sustainable water supply for ancillary industries.

ICJ emphasizes climate commitments, opens door to legal action against major polluters

SHANA (Tehran) – The International Court of Justice (ICJ) has issued a landmark advisory opinion affirming that countries are legally obligated to reduce greenhouse gas emissions—a ruling that may pave the way for compensation claims against major historical polluters.

OPEC+ nations reaffirm commitment to market stability

SHANA (Tehran) – The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on August 3, 2025, to review global market conditions and outlook.

KOGPC stabilizes daily output at 55,000 barrels

SHANA (Tehran) – Karoon Oil & Gas Production Co. (KOGPC) has stabilized daily crude oil production at 55,000 barrels through technical and operational upgrades at its upstream and downstream facilities, marking a significant step toward boosting production capacity.

Development of joint oil fields hinges on modern technology, official says

SHANA (Tehran) – The CEO of Arvandan Oil and Gas Company emphasized the need to prioritize the development of joint oil fields, calling it a key strategy for advancing Iran’s oil industry and strengthening the national economy.

NIDC completes 48 oil, gas wells drillings in four months

SHANA (Tehran) — The National Iranian Drilling Company (NIDC) has drilled and completed 48 oil and gas wells onshore and offshore across Iran during the first four months of the current Iranian calendar year, a company official said.