Oil Industry
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Oil Sector Leads Economic Growth
SHANA (Tehran) - Last year’s rising rate of economic growth was the result of considerable achievements in the oil sector.
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Iran’s High-Ranking Delegation Left Pakistan for Sri Lanka
SHANA (Tehran) – At the head of a high-ranking delegation, including the Minister of Petroleum Jawad Owji, the Iranian president headed toward Sri Lanka early this morning.
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Petroleum Ministry And AEOI Sign MOU
SHANA (Tehran) – Petroleum Ministry and Atomic Energy Organization of Iran (AEOI) signed a memorandum of understanding (MOU) today, 22 April 22, to boost cooperation in a range of different issues including technology.
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Rising Oil Exports A Clear Sign Of Success, MP
SHANA (Tehran) – The 13th administration's performance in view of economic diplomacy has been successful, a member of Parliament said.
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MP: Investments in oil industry promising
SHANA (Tehran) – A member of Iran’s Parliament said increasing investments, development of oil fields, and infrastructure measures in the oil industry are among promising economic moves.
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Lawmaker sees bright future for Iran oil industry
SHANA (Tehran) – A bright future is awaiting Iran’s oil industry, said the Parliament’s Energy Committee vice-chairman on Sunday.
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Highest foreign investment made in oil industry, says Iran’s economy minister
SHANA (Tehran) – Iran’s minister of economic affairs and finance said the oil industry attracted the highest foreign investment in the 11 months of the current Iranian calendar year (starting March 21, 2023).
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Iran’s oil, gas industry productivity growth hits 16.3% under 13th administration
SHANA (Tehran) – Iran’s oil and gas industry has witnessed a 16.3 percent productivity growth under the 13th administration during the 6th National Development Plan (ending March 19, 2024).
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Iran chief banker sees oil industry annual economic growth at 15.2%
SHANA (Tehran) – The Iranian oil industry’s economy is projected to grow 15.2 percent this Iranian calendar year (starting March 21, 2023), said the country’s top banker.
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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.