Crude oil
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Oil, condensate CDs worth $6m traded in IRENEX on first day
SHANA (Tehran) – The managing director of Iran Energy Exchange (IRENEX) here on Monday announced that the first-day transactions of certificates of deposit (CDs) of crude oil and gas condensates were valued at some six million dollars.
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NIOC Announces Iran Crude Oil Prices for September Delivery
TEHRAN (Shana) -- The National Iranian Oil Company (NIOC) has increased the official selling price of all types of crude oil for export to Asian markets in September.
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OPEC and Future of Oil
TEHRAN (Shana) -- There are doubts about short and long-term cooperation within the Organization of the Petroleum Exporting Countries (OPEC). Based on estimates, demand for crude oil would decline in the long term, i.e. over 30 years. On the other hand, it has to be taken into consideration that the priorities of top oil producers are always changing and the share of oil will decline in their future energy mix. The main question is to know until when OPEC can continue to work.
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DCI-1 Drilling Jacking System Upgraded
TEHRAN (Shana) -- Drilling Company International (DCI) announced the redesign and upgrade of the DCI-1 drilling control and protection system by the company's experts.
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Iran to Cut Dependence on Hormuz Strait for Oil Exports via 1,000-km Pipeline
TEHRAN (Shana) -- The Iranian president says Iran is building a major pipeline to transferring oil from west of the Persian Gulf to its east, cutting dependence on Hormuz Strait for oil exports.
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Iran Eyes 1mbd Crude Output in West Karoon
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the country expected to bring crude oil production to 1 million barrels per day in West Karoon Fields.
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5% Recovery Rate at Iran's Largest Joint Oilfield
TEHRAN (Shana) -- The Director of Consolidated Planning at the National Iranian Oil Company (NIOC) said according to the MDPs provided to the NIOC for developing South and North Azadegan oilfields, the initial recovery rate in the Sarvak layer of South Azadegan is 5.1% and 4.5% in North Azadegan which is while the layer accounts for nearly 90% of the field’s in-place oil reserves.
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Reverse Engineering Saves GOGPC up to Rls. 10b
TEHRAN (Shana) -- Utilizing the expertise of local experts and reverse engineers at Gachsaran Oil and Gas Production Company (GOGPC) resulted in saving Rls. 10 billion in the chemical laboratories of the company.
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How to Make Petrol or Gas from Crude Oil
How to Make Petrol or Gas from Crude Oil