Oil Industry
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President hails oil, gas industry ‘considerable’ role in Iran economic growth
SHANA (Ahvaz) – Iranian President Seyyed Ebrahim Raeisi on Friday said oil and industry has had a “considerable role in the country’s average 4% economic growth since his administration took office.
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Raeisi: Abadan Refinery Phase 2 launch conveys ‘we can’ message
SHANA (Abadan) – The completion and inauguration of the second phase of Abadan Refinery capacity development and stabilization project are the invaluable manifestation of “we can”, President Ebrahim Raeisi said here on Monday.
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CBI: Oil and gas sector posts highest industrial growth in autumn
SHANA (Tehran) – The latest report of the Central Bank of Iran (CBI) showed that the country’s oil and sector witnessed the highest economic growth in autumn and the first nine months of the current Iranian calendar year 1401, which started on March 21, 2022.
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Iran 11-Month Petchem Exports hit $15b
TEHRAN (Shana) -- The director of planning and development of the National Petrochemical Company (NPC) announced the export of $15 billion of petrochemicals in first 11 months of the current Iranian calendar year which began on March 21.
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Winners of 9th Petchem Industry Excellence Award Announced
TEHRAN (Shana) -- The 9th Petrochemical Industry Excellence Award was held with the slogan "Knowledge-oriented, excellence, sustainable development" with the introduction of top companies.
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Capacity of ECO, Shanghai Organizations Usable for Developing Petchem Exports
TEHRAN (Shana) -- The head of international affairs of the National Petrochemical Company (NPC) said the capacities of international organizations such as ECO and the Shanghai Cooperation Organization could be tapped for the development of Iran’s petrochemical exports.
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No Concerns for Providing Petchem Catalysts in Iran: CEO
TEHRAN (Shana) -- The CEO of the National Petrochemical Company (NPC) said Iran is not worried about the supply of catalysts now because Iranian researchers have moved towards localization of the items and the risk of stopping production is not due to the lack of catalysts.”
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China Keen on investing $50 m in Mahshahr Petzone
TEHRAN (Shana) -- A delegation of Chinese investors visited Mahshahr Petrochemical Special Economic Zone with the aim of checking the existing infrastructure and the possibility of investing $50 million to build a carbon-sulfur production plant.
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Digital Technologies Needed in Development of Petchem Projects
TEHRAN (Shana) -- The CEO of the National Petrochemical Company (NPC) said Iran's petrochemical industry should pay attention and emphasize the use of digital technologies in the path of sustainable and balanced development.
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Iran Oil Refining Capacity to Hit 3mb/d
TEHRAN (Shana) -- Under the 7th National Economic Development Plan, Iran is required to reduce crude oil and natural gas sales by developing the value chain and bring its oil refining capacity to 3 mb/d. Meantime, Petroleum Ministry is following up on the completion of incomplete refining projects in light of the imbalance in petroleum products consumption in the country.
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Bu Alisina Paraxylene Unit Online Soon
TEHRAN (Shana) – The Deputy CEO of Bu Alisina Petrochemical Company announced the final stages of setting up the paraxylene unit in cooperation with Iranian companies, and said: “This unit will be ready for operation in February this year.”
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NPC Eyes average value of Iran Petchems at $5k/t
TEHRAN (Shana) -- The CEO of the National Petrochemical Company (NPC) stressed that all petrochemical industry activists should bring their abilities to the field to complete its value chain, and said: "We should bring the average value of petrochemical products to at least 4,500 to 5,000 dollars per ton."
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1st Methanol to Synthetic Ethanol Plant to be built in Iran
TEHRAN (Shana) – A methanol-to-synthetic ethanol conversion plant will be built for the first time in the country's petrochemical industry with the signing of the technology transfer agreement for this project between Zagros Petrochemical Company and China's Dalian.
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PUT, BSTU to sign MoU
TEHRAN (Shana) – Iran’s Petroleum University of Technology (PUT) and the Belarusian State Technological University (BSTU) will sign a memorandum of understanding for cooperation through video conference in the presence of the chancellors of the two universities.
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Arya Sasol Petchem Plant Smashes Production Record
TEHRAN (Shana) -- This year, the 6-month all-time record of Arya Sasol Polymer Company was broken with the production of 987,000 tons of items in the first half of the current Iranian calendar year which began on March 21.
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$30b Petchem Investment Opportunity up for Grabs by KBCs
TEHRAN (Shana) -- The CEO of the Petrochemical Special Economic Zone Organization said: “We will create an innovation plant in the Petrochemical Special Economic Zone, which will provide a whopping $30 billion investment opportunity for knowledge-based companies.”
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Construction of Petchem Parks Key to Support KBCs: CEO
TEHRAN (Shana) – The CEO of Persian Gulf Petrochemical Industries Company (PGPIC) said: “With the launch of petrochemical parks, the slogan of the year (production, knowledge-based activities and job-creation) will be realized in the true sense because these parks will bring employment, value creation and modern technology to the country.”
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How to Realistically Decarbonize the Oil and Gas Industry
TEHRAN (Shana) -- Bjørn Otto Sverdrup leads the Oil and Gas Climate Initiative (OCGI), which gathers the CEOs of twelve of the world's largest oil and gas companies around an ambitious goal: to get one of the leading contributors to climate change to drastically lower their own carbon emissions. He describes a possible path for the industry to pivot to net-zero operations, reimagining the role it could play in helping decarbonize the economy and igniting changes in how we consume energy.
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$7 to $10b Investment Needed in Iran Petchem Industry: Official
TEHRAN (Shana) – An official with the National Petrochemical Company (NPC) says Iran’s petrochemical industry needs an investment of 7 to 10 billion dollars for realization of its plans each year.
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Iran Unveils Strategic Wellhead Item
TEHRAN (Shana) – An Iranian knowledge-based company has unveiled a Christmas Tree with a working pressure of 15,000 psi (pound per square inch).
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Integrated Azadegan Development
TEHRAN (Shana) -- Minister of Petroleum Javad Owji has said the second phase development of the giant South Azadegan oil field would be implemented by local firms. The first phase of this field, which is among the West Karoun cluster of fields, has been developed by local contractors to reach the nominal output of 220,000 b/d by next March.
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NISOC Eyes PDC Technology
TEHRAN (Shana) -- Enhanced oil recovery (EOR) requires application of modern technologies. Although Iran's oil industry has faced sanctions in recent years and has been prevented from having access to many of these technologies, Iranian oil companies are seeking technical knowhow through cooperation with international companies or Iranian universities. The head of R&T division of National Iranian South Oil Company (NISOC), Mohammad Golestan-Bagh, tells Iran Petroleum that efforts are under way to develop knowhow for the manufacturing of polycrystalline diamond compact (PDC) bits.
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Over 80% of Oil Industry Equipment Locally Sourced
TEHRAN (Shana) -- The chairman of Board of Directors of Society of Iranian Petroleum Industry Equipment Manufacturers (SIPIEM), Ehsan Saqafi, says more than 80% of equipment needed by the petroleum industry is domestically manufactured. In an interview with” Iran Petroleum”, he said that 14-15% of the remaining 20% was not cost-effective to be produced domestically while for 5-6%, the necessary technology is not available.
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NIOC Head: $160bn on Offer in Iran Oil Show for Investment
TEHRAN (Shana) – Iran has offered a chance to participants in the 26th International Oil, Gas, Refining and Petrochemical Exhibition to channel $160 billion in investments in the upstream sector of the country’s oil industry, said a high-ranking official in Tehran on Friday.
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Fund to be created to Finance Petchem Projects
TEHRAN (Shana) -- The investment director of the National Petrochemical Company said a project fund will be created to support petrochemical holdings or projects that need investment.
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Owji meets with Iraqi Minister of Electricity
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji and the Minister of Electricity of Iraq emphasized the development of cooperation between the two countries in the oil and gas sector.
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Value-Added, Top Petchem Priority
TEHRAN (Shana) -- By 2040, the annual market demand for petrochemicals and polymer products will be growing by 4.5 percent, while annual demand for petroleum products will be growing by less than 1 percent, indicating the importance of investing in and focusing on this value-added industry.
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Energy Transition: Fact from Fiction
TEHRAN (Shana) -- Modern history is totally acquainted with energy shocks, shortages, price hikes and panics on the buyers’ side and on the sellers’ side as well. But the current worldwide rising energy prices and large scale volatility for all key fuels and sources, is something entirely new and never experienced before. It is in fact puzzling in a way that no game theorists and econometricians could cope with and accommodate it. From Colorado minus $40 a barrel to plus $ 95 per barrel early February 2022 is something never seen before. This is a challenge to the consumers, suppliers, governments, bankers and societies everywhere.
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150 KBCs Ready to Join Iran Oil Projects: Owji
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said 150 knowledge-based companies have announced their readiness to cooperate with the oil industry.
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Iran Tapping Capacity of Banks, Holdings to Finance Oil Projects
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said his Ministry would not be delayed by foreign investors and was using the power and capacity of large holdings and a consortium of domestic banks to carry out projects in the industry.