Oil Industry

  • 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. 

  • Bu Ali Sina Petchem Plant to Upgrade Quantity and Quality

    Bu Ali Sina Petchem Plant to Upgrade Quantity and Quality

    TEHRAN (Shana) -- The light fraction desulfurization project at the Bu Ali Sina petrochemical plant came online in July with a view to bringing down the sulfur content to below 1 ppm.

  • Petchem Sector and Triangle of Strains

    Petchem Sector and Triangle of Strains

    TEHRAN (Shana) -- Iran’s petrochemical industry has not backed down over the past three years specifically after the US imposed all-out sanctions on the country, particularly the petrochemical sector. On the contrary, it recorded last calendar year as one of the best and most successful periods.

  • Serious Determination of Oil Industry Staff Needed for Overcoming Challenges: Owji

    Serious Determination of Oil Industry Staff Needed for Overcoming Challenges: Owji

    TEHRAN (Shana) – The new Iranian Minister of Petroleum Javad Owji, on the first day of his tenure, called for the serious determination and presence of the industry’s staff to overcome the crises and challenges facing the country's oil and gas industry.

  • Iran Petroleum Industry Book Review

    Iran Petroleum Industry Book Review

    TEHRAN (Shana) -- The present piece of writing reviews major books written on the history of Iran’s petroleum 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.