Shana

Iran plans for production boost in shared oil fields

SHANA (Tehran) – The CEO of the Petroleum Engineering and Development Company (PEDEC) highlighted accelerating the development of shared oil fields, increasing production, achieving technological self-sufficiency and sustainable development as key priorities for the company in the Iranian year 1404.

Sepehr, Jufair fields crude production hits 64,000 barrels per day

SHANA (Tehran) – The CEO of Pasargad Exploration, Development, and Production Company announced that oil production from the Sepehr and Jufair fields increased to 64,000 barrels per day by the end of the Iranian year 1403 (March 2024).

Paknejad says oil industry acts as pillar of Iran’s independence, resilience

SHANA (Tehran) – Mohsen Paknejad, Iran’s Minister of Oil, in a message marking the anniversary of the nationalization of the oil industry, stated that the oil sector stands as a steadfast pillar of the nation’s independence and a clear symbol of the Iranian people’s capabilities.

Gov’t spox:

Iran will not yield its share in the global oil market

SHANA (Tehran) – A government spokesperson emphasized that the Ministry of Oil is one of the most critical ministries at the forefront of sanctions.

Kharg oil terminal as hub of Iran’s oil exports meets global standards

SHANA (Tehran) – The CEO of Iran Oil Terminals Company emphasized the critical role of the Kharg oil terminal in the export of the country’s crude oil, stating that all stages of receiving, storing, and exporting oil at this terminal are carried out in strict compliance with international standards and under the supervision of advanced quality control laboratories.

NIDC urged to strengthen its regional position

SHANA (Tehran) - The CEO of the National Iranian Oil Company emphasized the pivotal role of the National Iranian Drilling Company (NIDC) in the country’s oil industry, stating that the company must solidify its position in regional markets by modernizing equipment, adopting advanced technologies, and streamlining processes.

 In latest round of measures against Iran’s oil industry

US Treasury sanctions Iranian oil minister

SHANA (Tehran) - The US Treasury Department has imposed sanctions on Iran’s oil minister as part of its ongoing maximum pressure campaign against the Islamic Republic. 

Iran anticipates positive news in oil production next year

SHANA (Tehran) - The CEO of the National Iranian Oil Company (NIOC) announced that necessary planning has been completed to meet oil production requirements for the upcoming year, stating, "Next year, we will have good news in the field of oil production."

Iran dismisses reports of halting Iranian oil vessels

SHANA (Tehran) – The spokesperson for Iran's Foreign Ministry dismissed claims made by Reuters regarding the halting of Iranian oil tankers, labeling them as fabricated, false, or biased reporting.

Oil industry requires massive investment

SHANA (Tehran) - A faculty member at Allameh Tabataba'i University stated that the oil industry requires substantial investment, emphasizing that existing perspectives on concession agreements need revision.

KOGPC reaches daily production of 1m barrels

SHANA (Tehran) – The CEO of Karoon Oil & Gas Production Company (KOGPC) announced an 11% increase in the company's oil production in the year 1403 (2024-2025) compared to the previous year, stating that daily oil production at Karun has reached 1 million barrels.

Investment in Band Karkheh oil field development approved by Economic Council

SHANA (Tehran) – The Economic Council, during its meeting on Monday, reviewed and approved a request from the Ministry of Oil to amend a previous resolution regarding a gas supply project for power plants on Kish Island and to invest in the development and operation of the Band Karkheh oil field.

Iranian crude oil OSP for March announced by NIOC

SHANA (Tehran) – The National Iranian Oil Company (NIOC) has set the official selling prices (OSP) for Iranian crude oil in March. According to the company, Iran’s light crude oil will be priced $4.35 above the benchmark price (Oman/Dubai crude) for Asian customers.

Siri Island: Iran’s oil hub in Persian Gulf

SHANA (Tehran) – Siri Island, also known as Raz Island, is Iran’s southernmost island and the last piece of Iranian territory in the heart of the Persian Gulf. It is the country’s most oil-rich island, where oil is extracted and exported from five fields: Nosrat, Esfand, Sivand, Dena, and Alvand.

Specialized workforce strengthening crucial in exploration sector

SHANA (Tehran) – The director of oil and gas production supervision at the National Iranian Oil Company (NIOC) emphasized the importance of maintaining and strengthening a specialized workforce in the exploration sector, describing it as the first link in the oil industry’s value chain.

SCI: Iran’s GDP grows 3.1% in nine months, fueled by oil sector

TEHRAN, Iran – According to the latest quarterly national accounts released by the Statistical Center of Iran, the country’s gross domestic product (GDP) at constant 1400 prices grew by 3.1% year-over-year in the first nine months of the Iranian calendar year 1403 (March 20–December 20, 2024), including oil. Excluding oil, GDP grew by 2.2% during the same period.

New ruling issued in Crescent Petroleum case in favor of NIOC

SHANA (Tehran) – The Arbitration Tribunal dismissed Crescent Petroleum’s claim that the National Iranian Oil Company (NIOC) is liable to the UAE company for damages caused to third parties (companies contracted with Crescent Petroleum).

Shazand Oil Refinery maintains production levels

SHANA (Tehran) – The CEO of Shazand Oil Refinery stated that operational activities at the refinery’s units are continuing as normal, with no disruption to the production process or output of strategic products, including gasoline and other essential derivatives needed by the country.

Successful execution of second nanofluid injection pilot at Belal field

SHANA (Tehran) – The second pilot injection of nanofluid, produced by the Research Institute of Petroleum Industry (RIPI), was successfully conducted at well BL-1P in the Belal oil field with the support of the Iranian Offshore Oil Company (IOOC).

IOTC ready to export any volume of delivered oil, CEO says

SHANA (Tehran) – The CEO of the Iran Oil Terminals Company (IOTC), during a visit to the Kharg oil terminal, emphasized the company’s critical role in the oil value chain, stating that the IOTC, relying on domestic capabilities and strategic infrastructure, is prepared to export any volume of oil delivered to it.

Empowering human resources, foundation of oil industry development

SHANA (Tehran) – The CEO of the National Iranian Oil Company (NIOC), while appreciating the efforts of the industry's employees in addressing the country's gas imbalance, emphasized the importance of agility and enhancing the knowledge level of human resources in subsidiary companies.

New round of US sanctions targets Iran’s oil industry

SHANA (Tehran) – The US Departments of the Treasury and State have jointly imposed sanctions on several individuals and companies associated with Iran's oil industry, as part of Washington's ongoing maximum pressure campaign against Tehran.

Oil Ministry leads in localization of strategic technologies

SHANA (Tehran) – The Deputy for Development of New Technology-Based Firms (NTBFs) at the Vice Presidency for Science, Technology, and Knowledge-Based Economy announced that the Ministry of Oil has taken a leading role in implementing the law to boost tech-based production.

Oil industry advances toward tech-based development

SHANA (Tehran) – The director-general of technology affairs at the Ministry of Oil stated that the country's oil industry has taken steps toward technology-based development with the goals of increasing productivity, accelerating projects, saving foreign currency, neutralizing sanctions, and achieving economic growth.

Domestically-produced compressor unveiled at Petrotech Conference

SHANA (Tehran) – Iran has joined the ranks of a select few countries capable of designing and manufacturing integrally geared centrifugal compressors with the unveiling of a domestically produced variable speed process compressor.

Synergy vital in oil industry technology ecosystem

SHANA (Tehran) – The most significant initiatives of the oil industry technology ecosystem were outlined at the Third Petrotech Conference, with a strong emphasis on the need for increased synergy to achieve tangible results.

NIOC implementing three digital super-systems across eight oil fields

SHANA (Tehran) – The research and technology director of the National Iranian Oil Company (NIOC) announced that three digital super-systems are being implemented across eight oil fields in the country.

Smart tech development: NIOC's key strategy

SHANA (Tehran) – The CEO of the National Iranian Oil Company (NIOC) stated that significant strides have been made in enhancing productivity, reducing costs, and improving oil reservoir management by focusing on the development of advanced technologies, artificial intelligence (AI), and digitalization.

Petrotech Conference focuses on cutting-edge technologies: Secretary

SHANA (Tehran) – The secretary of the third Petrotech Conference stated that the event, held under the slogan "Cutting-Edge Technologies in the Oil Industry: The Key to Increasing National Wealth," brings together senior executives, researchers, and new technology-based firms (NTBFs).

Oil collection unit launched at Cheshmeh Khosh field

SHANA (Tehran) – The project manager for the Cheshmeh Khosh, Dalpari, and Paydar Sharq oil fields announced the launch of a crude oil collection unit at the evaporation pond facilities of the Cheshmeh Khosh oil field.