Oil Industry

  • Digital Technologies Needed in Development of Petchem Projects

    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.

  • Iran Oil Refining Capacity to Hit 3mb/d

    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.

  • Bu Alisina Paraxylene Unit Online Soon

    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.”

  • NPC Eyes average value of Iran Petchems at $5k/t

    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."

  • 1st Methanol to Synthetic Ethanol Plant to be built in Iran

    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.

  • PUT, BSTU to sign MoU

    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.

  • Arya Sasol Petchem Plant Smashes Production Record

    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.

  • $30b Petchem Investment Opportunity up for Grabs by KBCs

    $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.”

  • Construction of Petchem Parks Key to Support KBCs: CEO

    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.”

  • How to Realistically Decarbonize the Oil and Gas Industry

    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.

  • $7 to $10b Investment Needed in Iran Petchem Industry: Official

    $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.

  • Iran Unveils Strategic Wellhead Item

    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).

  • Integrated Azadegan Development

    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.

  • NISOC Eyes PDC Technology

    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.

  • Over 80% of Oil Industry Equipment Locally Sourced

    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.

  • NIOC Head: $160bn on Offer in Iran Oil Show for Investment

    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.

  • Fund to be created to Finance Petchem Projects

    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.

  • Owji meets with Iraqi Minister of Electricity

    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.

  • Value-Added, Top Petchem Priority

    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.

  • Energy Transition: Fact from Fiction

    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.

  • 150 KBCs Ready to Join Iran Oil Projects: Owji

    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.

  • Iran Tapping Capacity of Banks, Holdings to Finance Oil Projects

    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.

  • Arvand Petchem Plant Unveils Iranian Decanter Centrifuge

    Arvand Petchem Plant Unveils Iranian Decanter Centrifuge

    TEHRAN (Shana) -- The Iran-made decanter centrifuge of the suspension PVC unit, which was designed and built for the first time in the country by the order of Arvand Petrochemical Company, was unveiled in the presence of the Vice President for Economic Affairs.

  • Petchem Firms Supplying $250m to Nima System Weekly

    Petchem Firms Supplying $250m to Nima System Weekly

    TEHRAN (Shana) -- The Secretary General of the Petrochemical Industry Employers' Association announced an 8.5% growth in production and 8% in exports of petrochemicals year-on-year, saying: "Currently, $250 million of hard currency is being injected into the Nima system by petrochemical companies every week."

  • Iran Plast held with Exhibitors from 5 Continents despite Bans

    Iran Plast held with Exhibitors from 5 Continents despite Bans

    TEHRAN (Shana) -- The director of Iran Plast International Exhibition said: "The 15th edition of this exhibition is being held despite the oppressive sanctions against Iran's oil industry, in the presence of a large number of companies, traders and representatives of foreign countries from five continents."

  • Bank Mellat Fully Ready to Boost Oil Investment

    Bank Mellat Fully Ready to Boost Oil Investment

    TEHRAN (Shana) -- The CEO of Bank Mellat announced the bank's 100% readiness as an energy bank to enhance investment in oil industry projects in hard currency and Rials.

  • Over 600 Firms Pre-Register in 15th IranPlast Showcase

    Over 600 Firms Pre-Register in 15th IranPlast Showcase

    TEHRAN (Shana) -- The director of the 15th IranPlast International Exhibition announced pre-registration of more than 600 domestic participants to attend this year's exhibition, and said: “Final registration and location of the exhibitors will be announced soon.”

  • Iran Eyes Mideast Top Petchem Position

    Iran Eyes Mideast Top Petchem Position

    TEHRAN (Shana) -- Laying emphasis on development of the downstream sector of the petrochemical industry, paying attention to its high added value and planning for development of the petrochemical industry is currently the most important axis of profitability of the petrochemical industry in Iran. Minister of Petroleum Javad Owji has said Iran’s petrochemical exports will reach $4.8 billion in the current calendar year.

  • Iran Petchem Output up 8% in H1

    Iran Petchem Output up 8% in H1

    TEHRAN (Shana) –The production control manager of the National Petrochemical Company said that the country’s petrochemical output saw an 8-percent year-o-year growth in the first half of the current calendar year, which began on March 21.

  • Iran Petroleum Industry Book Review

    Iran Petroleum Industry Book Review

    TEHRAN (Shana) -- In this piece of writing we will be reviewing major books written in the history of Iran’s petroleum industry.