Oil Industry

  • South Pars Development Seen Foiling Sanctions

    South Pars Development Seen Foiling Sanctions

    TEHRAN (Shana) -- Despite President Joe Biden taking office in the United States, Iran’s petroleum industry is still unable to sell crude oil as much as its market share due to the toughest ever financial and banking sanctions his predecessor Donald Trump imposed on Iran in 2018 after quitting the 2015 nuclear deal. Meantime, the coronavirus pandemic has left serious negative impacts on the market. And the petroleum industry has automatically not been spared over years. The petroleum industry definitely needs investment and technology.

  • Problem of Oil Industry Employees’ Salaries being Solved

    President Rouhani:

    Problem of Oil Industry Employees’ Salaries being Solved

    TEHRAN (Shana) – Iranian President Hassan Rouhani emphasized that Iran has not had and does not have any problems in the production and export of crude oil, and said: "I promise the employees of the Ministry of Petroleum that their salary problems will be solved."

  • Iran to Add 22 Items to Petchem Output Mix

    Iran to Add 22 Items to Petchem Output Mix

    TEHRAN (Shana) -- The Director of Planning and Development at the National Petrochemical Company said 33 petrochemical projects are under way in the country by whose development 22 new items will be added to the country’s production portfolio.

  • Vision Document of Crude Oil Production for 2040 Approved

    Vision Document of Crude Oil Production for 2040 Approved

    TEHRAN (Shana) -- The Supreme Energy Council approved the vision document of Iran’s crude oil production up to the horizon of 2040.

  • Iran Petchem Output up 7% Y/Y in Q1

    Iran Petchem Output up 7% Y/Y in Q1

    TEHRAN (Shana) – Iran’s petrochemical output rose by 7 percent in the first 3 months of the current calendar year, which began on March 21 compared to the same period last year.

  • Iran Oil Industry under Rouhani Administration

    Iran Oil Industry under Rouhani Administration

    TEHRAN (Shana) -- The Iranian oil industry has experienced many ups and downs over the last eight years; from increased production in joint oil and gas fields to gasoline exports; however, events such as sanctions against Iran and the Sanchi tanker’s skinning also occurred during the same years.

  • Iran Petchem Revenues at $10b in 1399

    Iran Petchem Revenues at $10b in 1399

    TEHRAN (Shana) – The CEO of the National Petrochemical Company (NPC) said the country generated $10 billion in petrochemical export revenue in the previous calendar year which ended on March 20.

  • Changouleh, Kish Up for Development

    Changouleh, Kish Up for Development

    TEHRAN (Shana) -- Changouleh is one of the important oil fields in West Karoun region in southwestern Iran. Foreign companies have, time and again, shown interest in getting involved in development of this untapped field which Iran shares with neighboring Iraq.

  • Non-State Oil Industry Research, Technology Fund signs Deals

    Non-State Oil Industry Research, Technology Fund signs Deals

    TEHRAN (Shana) -- The Non-State Oil Industry Research and Technology Fund has signed two contracts for guaranteed purchases and two contracts for venture capital.

  • Iran Oil Documents Declassified

    Iran Oil Documents Declassified

    TEHRAN (Shana) -- Documents and artefacts are the main items in the Petroleum Industry Directorate of Museums and Documents. They are instrumental in preserving the history of Iran’s petroleum industry. The Directorate started work effectively in 2014 and has since gathered documents, audiovisual and written references as well as artefacts and old items and tools. In this newly-established center, regulations and protocols including identification, gathering, restoration, preservation and documentation for prospective use by researchers, students and professors have been highly respected.

  • Drilling Industry Turns 41 in Iran

    Drilling Industry Turns 41 in Iran

    TEHRAN (Shana) -- December 21 marks National Drilling Day in Iran. National Iranian Drilling Company (NIDC) was established on December 21, 1979. The company started its work with 6 drilling rigs.

  • Research Role in Petchem Value Chain Development

    Research Role in Petchem Value Chain Development

    TEHRAN (Shana) -- Iran’s petrochemical industry has conducted vast planning alongside building plants in order to bring the country’s output to 100 million tonnes a year. That would push the country to the top technological position in the region.

  • Understanding Marine Seismic Surveys

    Understanding Marine Seismic Surveys

    TEHRAN (Shana) -- Understanding Marine Seismic Surveys

  • 5 Operational Challenges Holding Back IoT in Oil & Gas Industry
  • The US is Loser in Imposing Sanctions on Iran

    The US is Loser in Imposing Sanctions on Iran

    TEHRAN (Shana) -- The head of "Committee for Developing Iran’s Economic Cooperation with Iraq and Syria" has said the United States was the loser due to Washington’s failure to zero Iran’s oil and gas exports.

  • 8% Rise in Iran 7-Month Petchem Output

    8% Rise in Iran 7-Month Petchem Output

    TEHRAN (Shana) – Iran’s petrochemical output rose by 8 percent year-on-year in the first 7 months of the current calendar year, which began on March 21.

  • MOP Supports Domestic Manufacturing with Int'l Standards: Min.

    MOP Supports Domestic Manufacturing with Int'l Standards: Min.

    TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said his ministry would support domestic manufacturing by observing international standards in the oil industry.

  • Iran Gas Industry to Celebrate Self-Sufficiency in Equipment Supply: CEO

    Iran Gas Industry to Celebrate Self-Sufficiency in Equipment Supply: CEO

    TEHRAN (Shana) –The CEO of the National Iranian Gas Company (NIGC) announced the start of construction of 35 widely-consumed and strategic items in the gas industry with support from local knowledge-based companies.

  • 99.99% Safety in Pipeline Transmission

    99.99% Safety in Pipeline Transmission

    TEHRAN (Shana) -- The Iranian Oil Pipelines and Telecommunication Company (IOPTC) transmits millions of liters a day of a variety of petroleum refined products via over 14,000 kilometers of underground pipeline and many pumping stations to feed refineries producing gasoline, gasoil and kerosene among other products before delivery to the storage facilities of National Iranian Oil Products Distribution Company (NIODPC).

  • Petchem Role in Stock Market

    Petchem Role in Stock Market

    TEHRAN (Shana) -- In the petroleum industry, petrochemical companies have gained fame for their early and fast yield. Some experts say the rate of return of investment in petrochemical projects is six years.

  • No Covid-19 Impact on Iran Gas Distribution

    No Covid-19 Impact on Iran Gas Distribution

    TEHRAN (Shana) -- Iran has one of the most extended gas pipelines in the region. Last calendar year to March 20, Iran extended its gas pipelines to 37,343 kilometers. Furthermore, 86 gas compressors are under operation while 316 have already become operational across the country.

  • Iran Gas Sector Braces for Fast Development

    Iran Gas Sector Braces for Fast Development

    TEHRAN (Shana) -- Iran’s gas industry development has over the past six years seen daily growing development with the focus having been on recovery from the giant South Pars gas field. Development of gas industry is racing ahead in both upstream and downstream sectors. Iran’s gas industry train has been overcoming all restrictions in order to reach the final destination, which is maximum recovery from joint fields and replacement of gas with petroleum products. The gas industry hopes to connect all cities, as well as all villages with more than 20 households to the national gas network. In addition to maximum recovery from joint gas fields, processing the already recovered gas would be also instrumental in order to avoid any halt in the development operations.

  • What is Oil Industry
  • Texas Oil Fields on Fire With Polluting Flares From Fracking
  • Iran Eyes 100 mt Petchem Output in 1399

    Iran Eyes 100 mt Petchem Output in 1399

    TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the country’s petrochemical production capacity was planned to cross 10 million tons per year in the current Iranian calendar year which began on March 20.

  • Rouhani: Oil, Gas Projects under Way despite Sanctions

    Rouhani: Oil, Gas Projects under Way despite Sanctions

    TEHRAN (Shana) – Iranian President Hassan Rouhani appreciated Iranian oil industry achievements, saying: "The United States cannot bring our nation to its knees because of the plans that we will implement in [the calendar year of] 1399, after two years and a few months of severe sanctions."

  • Fajr Jam Refinery Launches Solar Power Plant

    Fajr Jam Refinery Launches Solar Power Plant

    TEHRAN (Shana) -- Fajr Jam Gas Refining Company has officially opened a solar power plant in its facility.

  • Oil Market Black Monday

    Oil Market Black Monday

    TEHRAN (Shana) -- The novel coronavirus drastically changed the consumption patterns of hydrocarbon products across the globe. Many regular consumers of oil products such as gasoline or jet fuel were no longer willing to buy them. Everyone ranging from big buyers to car owners have been affected. Oil products’ consumption has significantly declined and the refining industry has faced serious stagnation due to weakened demand. However, the impact on various sectors of the refining industry was not identical.

  • Doroud, Arvand Oil Fields Up for Investment

    Doroud, Arvand Oil Fields Up for Investment

    TEHRAN (Shana) -- The Doroud oil field, which is located in Kharg Island and northwest of the Persian Gulf, is among developed oil fields which the Iranian Offshore Oil Company (IOOC) presented to foreign investors within the framework of the new model of oil contracts – the Iran Petroleum Contract (IPC).

  • WTI: What Negative Price Meant

    WTI: What Negative Price Meant

    TEHRAN (Shana) -- On 20 April 2020, West Texas Intermediate (WTI) futures experienced unprecedented developments. WTI contract prices for delivery in May dropped to below zero. One may ask it would be the same for June. In this specific period, negative prices were driven by an unusual circumstance due to an expiring futures contract. However, unless the oil demand situation changes quickly, the US could face single digit or even negative oil prices throughout the summer.