Early fulfillment of production targets achieved in three western oil fields

SHANA (Tehran) – The executor of the development plan for the Cheshmeh-Khosh, Dalpari, and Paydar Sharq oil fields announced that these three fields achieved their annual production targets in 2024, even exceeding the planned ceiling—a success that boosted the project’s revenue by over $200 million.

Stability in PVC market as Arvand Petrochemical boosts production

SHANA (Tehran) – Arvand Petrochemical has significantly increased production of various PVC grades by addressing challenges and implementing development strategies, playing a key role in stabilizing Iran’s PVC market.

Karun Petrochemical Complex sets monthly isocyanate production record

SHANA (Tehran) – The manager of Karun Petrochemical Complex announced that the facility broke Iran’s monthly isocyanate production record over the past four years.

Biggest increase in March oil output comes from Iran: OPEC report

SHANA (Tehran) – Iran’s oil production in March 2024 stood at 3.188 million barrels per day (bpd), showing a 28,000-barrel increase from its February output, the biggest hike among the members of the Organization of Petroleum Exporting Countries, the Monthly Oil Market Report (MOMR) of OPEC showed.

Leader designates 1403 as year of ‘Surge in Production Through People’s Participation’

SHANA (Tehran) – Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei, in his Wednesday’s New Year address, designated 1403 solar year (starting March 20, 2024) as the year of ‘Surge in Production Through People’s Participation’.

Khuzestan oil fields output up 1m bpd under incumbent government: Owji

SHANA (Ahvaz) – Iran’s oil minister said on Friday oil production in southwestern province of Khuzestan has jumped one million barrels per day (bpd) since the 13th (incumbent) administration took office in August 2021.

Owji: Sanctions-hit Iran gas output rise two times world average

SHANA (Algiers) – The average annual increase in Iran’s gas production from 2012 to 2022 was over two times the average rise in the global output in spite of brutal sanctions imposed on the country, said Oil Minister Javad Owji on Friday.

Oil extraction from South Azadegan joint field up 50,000 bpd

SHANA (Ahvaz) – Oil extraction from the South Azadegan field rose by 50,000 barrels per day (bpd) as Iran’s Oil Minister Javad Owji issued an order via videoconference for exploiting 60 new wells on Tuesday.

NIOC chief says oil, gas production in Iran will continue for next 100 years

SHANA (Tehran) – Oil and gas production in Iran, thanks to its current reserves, will continue for the next 90-100 years, said the National Iranian Oil Company (NIOC) managing director on Tuesday.

Saudi wins provisional backing for OPEC+ oil production cuts: FT

Saudi Arabia has won provisional backing for further oil production cuts by the OPEC+ group that will see other members agree to contribute, boosting oil prices to the highest in three weeks ahead of a crucial meeting of the group.

OPEC: Iran’s oil output keeps rising

SHANA (Tehran) – Iran’s crude oil production continued its rise in October, the latest report of the Organization of the Petroleum Exporting Countries (OPEC) showed.

OPEC oil output rises for third month; Iran production hits new high: Reuters survey

OPEC oil output has risen for a third straight month in October, a Reuters survey found on Tuesday, led by increases in Nigeria and Angola and despite ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance to support the market.

OPEC's September report: Production surges with Iran's output surpassing 3m bpd

OPEC’s crude oil production witnessed a noticeable uptick in September as compared to August, as per the latest data released in the Monthly Oil Market Report (MOMR) published by the organization.

OPEC report: Iran regains position as third-largest oil producer with 3m bpd output

SHANA (Tehran) – The Monthly Oil Market Report (MOMR) of the Organization of the Petroleum Exporting Countries (OPEC) showed that Iran has regained its position as the third-largest crude oil producer in August.

16% jump in Iran oil output capacity by end of 7th Development Plan

SHANA (Tehran) – A 16 percent leap in Iran’s oil production capacity is the target set by the 7th National Development Plan (2023-2027).

Saudi Arabia offers 1 mb/d voluntary cuts for July

2024 oil output for OPEC+ adjusted to 40.46 mb/d

Saudi Arabia will make deep production cuts in July as part of a broader output-limiting OPEC+ deal as the group faces flagging oil prices and a looming supply glut, Reuters reported on Sunday.

OPEC+ debating production quotas, new cut: Sources

OPEC and its allies meet today in the Austrian capital Vienna to debate a new deal possibly adjusting countries' output quotas and a further cut in production, sources told Reuters, as the group faces flagging oil prices and a looming supply glut.

NIOC head: Iran oil output up 600,000 bpd under incumbent administration

SHANA (Tehran) – The National Iranian Oil Company (NIOC) managing director on Monday said the country’s crude oil production has been increased by 600,000 barrels per day (bpd) under the 13th (incumbent) administration.

NISOC eyes output capacity hike

National Iranian South Oil Company (NISOC) is planning to enhance production within the framework of short-term annual plans. Given NISOC’s 80% share in Iran’s oil production, planning by the company’s Technical Directorate is of paramount significance. The following is the text of the interview of Ramin Rowghanian, NISOC’s technical director, with “Iran Petroleum” on oil output hike plans.

NIOC head: $160bn investment needed to raise Iran oil, gas production by 50%

SHANA (Tehran) – The National Iranian Oil Company (NIOC) managing director here on Sunday said a 160-billion-dollar investment is required to increase the country’s oil and production capacities by 50 percent.

Arvand Petchem Plant Breaks Production, Profitability Records

TEHRAN (Shana) -- Arvand Petrochemical Company, with the production of 2.58 million tons of products in the first 11 months of the current Iranian calendar year which began on March 21, set a new production record and registered a unique performance with 7.5 trillion tomans of net profit.

Petchem Firms Mull Hydrogen Production

TEHRAN (Shana) -- Petrochemical companies invest to produce hydrogen in Iran in line with the global trend of producing this fuel.

Iran Eyes 50% Gas Output Growth by 2029

TEHRAN (Shana) – The CEO of the National Iranian Oil Company (NIOC) announced the implementation of plans to increase gas production of the country by 50% by 2029.

Gachsaran Oil Output up 180,000b/d

TEHRAN (Shana) -- The CEO of Gachsaran Oil and Gas Production Company announced the daily increase of 180,000 barrels of oil with the use of skid-mounted crude oil processing unit in this company.

Southern Azadegan Oil Output up 45,000 b/d

TEHRAN (Shana) -- The CEO of Petroleum Engineering and Development Company (PEDEC), while explaining the actions taken by this company in the South Azadegan field, announced the increase in daily production of crude oil by 45,000 barrels/day over the past year.

AOGC signs 6 Cooperation MoUs, 3 Contracts

TEHRAN (Shana) -- Arvandan Oil and Gas Company (AOGC) signed 6 cooperation memoranda of understanding (MOU) and 3 contracts on the 3rd day of the 13th Ahvaz Oil Industry Equipment Manufacturing Exhibition.