oil
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Growth of crude production, exports in H1 amid economic stagnation
SHANA (Tehran) – Statistics by the Central Bank of Iran (CBI) show a 1.1-percent growth in crude oil production and exports during first six months of the current Iranian year (started March 21, 2025), an indicative achieved amid economic as a 0.6-percent drop registered in growth domestic production of the country.
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OPEC boosts crude output by 105,000 bpd in December 2025
SHANA (Tehran) – Daily crude oil production by OPEC member countries rose by 105,000 barrels in the final month of 2025, reaching 28.564 million barrels per day in December, according to the organization’s latest report.
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Reducing private-sector investment risk in oil industry
SHANA (Tehran) – The CEO of PetroIran Development Company said the investment volume under a contract to supply four drilling rigs to the National Iranian Oil Company (NIOC) is about $200 million, adding that the public-private partnership (PPP) contract model guarantees the company’s operations for five years, significantly reducing investment risk for the private sector.
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Minister says Iran’s crude export process continues
SHANA (Tehran) – Oil minister announced that the oil industry staffs of various sectors support the Iranian establishment, adding that the country’s crude export process continues as in the past.
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Techno-operational measures by NISOC to boost crude production
SHANA (Tehran) – The deputy director for petroleum engineering at the National Iranian South Oilfields Company (NISOC) elaborated on technical, operational and infrastructure measures to boost and maintain crude oil production.
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NISOC inks two research deals
SHANA (Tehran) – The National Iranian South Oilfields Company (NISOC) signed two contracts on supplying research and technology needs on Sunday.
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Ahvaz to host Khuzestan Oil Industry Equipment Manufacturing Exhibition
SHANA (Tehran) – The 16th Khuzestan Specialized Exhibition of Oil Industry Equipment Manufacturing will be held in Ahvaz with the aim of supporting domestic production, expanding the capabilities of Iranian manufacturers and strengthening the oil industry’s supply chain.
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Oil market under the shadow of a quota war, not geopolitics
SHANA (Tehran) - An energy analyst says the main risk facing the oil market is no longer geopolitical crises but internal tensions within OPEC-plus and a potential battle over production quotas. While political crises have had an impact, he said, the structure of the market has prevented a sharp price surge.
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OPEC+ producers reaffirm commitment to market stability, maintain voluntary output curbs
SHANA (Tehran) – The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on January 4, 2026, to review global market conditions and outlook.
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Uncertainty in US policy biggest challenge for oil market in 2026
SHANA (Tehran) – The former head of international affairs at the National Iranian Oil Company said the global oil market in 2026 will be shaped more than anything else by uncertainty over US tariff policies and the responses of Washington’s trading partners — a factor that could keep global oil demand under pressure and prevent a sharp rise in prices.
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PetroPark bridges ideas to market
SHANA (Tehran) – The head of research and technology at the National Iranian Oil Company underscored the key role of the Petroleum Industry Innotech Park (PetroPark) in completing the chain from idea to market, saying closer interaction between the research and technology management and the park can help address real challenges in the oil industry.
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OPEC’s tough year: A quarter of oil’s value lost
SHANA (Tehran) – OPEC’s oil basket ended 2025 down 24% from the previous year after a period of sharp volatility.
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Oil Ministry backs more than 80% of first-of-a-kind manufacturing projects
SHANA (Tehran) — More than 80% of Iran’s first-of-a-kind manufacturing projects have been carried out with the support of the Oil Ministry, a deputy oil minister said, underscoring the ministry’s long-standing policy of backing domestic production.
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Oil’s rocky 2025: Global tensions fail to offset oversupply
SHANA (Tehran) – A look at oil prices in 2025 shows a volatile year in which the strategic commodity fell from about $74 a barrel at the start of the year to near $60 by year’s end, a decline of nearly 20%. Brent crude briefly topped $82 at times but spent much of the year under pressure, at one point flirting with the $50 range before stabilizing around $60. A mix of economic, geopolitical and supply-side factors drove the swings. Here are the main forces that shaped oil prices in 2025.
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Localization of technology key to boosting oil, gas output
SHANA (Tehran) – The technical adviser to the CEO of the National Iranian Oil Company (NIOC) emphasized the need to upgrade hydraulic fracturing know-how, saying higher oil and gas production cannot be achieved solely by expanding drilling fleets. Localizing key technologies, he said, is the fastest and most cost-effective path to boosting national output.
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Localizing EOR technology to boost crude output
SHANA (Tehran) – The head of research and technology at the National Iranian Oil Company said more than 51% of Iran’s recoverable oil reserves have already been produced, underscoring the need to accelerate the development and localization of enhanced oil recovery (EOR) technologies to protect remaining reserves and sustain output.
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Oil market shifts from fear to fundamentals as geopolitical shocks fade
SHANA (Tehran) – A former Iranian representative to OPEC’s Board of Governors says the global oil market has largely moved away from fear-driven pricing and is now valuing crude based on fundamentals such as supply, demand, inventory levels and spare production capacity, as the impact of geopolitical shocks continues to fade.
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Second Azadegan CTEP boosts oil output, jobs, supply chain resilience
SHANA (Tehran) — The opening of the second train of the central processing unit at the South Azadegan shared oil field will play a key role in sustainable development in the West Karoun region by expanding stable processing capacity, stabilizing production, strengthening the transfer chain and creating jobs, the deputy head of Parliament’s Energy Committee said.
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Oil sale proceeds deposits overseen by CBI, minister says
SHANA (Tehran) – Oil minister said the mechanism for depositing proceeds from oil sales is overseen, monitored and controlled by the Central Bank of Iran, stressing that the Oil Ministry has no role in banking operations related to those funds.
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Oil market more resilient than before; no sharp price surge expected in 2026
SHANA (Tehran) – An energy analyst says global oil prices are unlikely to rise sharply in 2026, citing greater market resilience and the absence of major geopolitical or economic shocks.
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Persian Gulf terminal keeps oil exports steady
SHANA (Tehran) – The Persian Gulf oil export terminal, the final link in the processing, storage and export chain for oil from the Soroush and Norouz fields, has played a key role in sustaining Iran’s oil exports for more than a decade. It has continued operating without interruption even during periods of sanctions and war.
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Oil sales volume remains strong, minister says
SHANA (Tehran) – Iran’s oil sales volume remains strong and continues at previous levels, Oil Minister Mohsen Paknejad said on Thursday.
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South Azadegan production capacity hits 160,000 barrels a day
SHANA (Tehran) — The chief executive of Petropars Group said the operational capacity of the South Azadegan joint oil field has increased to 160,000 barrels per day, citing the start-up of the second train of the central processing facility and the gradual return of wells to production.
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Strategic role of South Azadegan processing in boosting oil output
SHANA (Tehran) – The head of Iran’s Oil Engineering and Development Company said the completion of the second processing train at the shared South Azadegan oil field marks the country’s first major oil output expansion project since 1395 and carries significant strategic importance for the industry.
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President orders launch of second processing train at South Azadegan field
SHANA (Tehran) – The second processing train at the central processing unit of the shared South Azadegan oil field was inaugurated Thursday by order of President Masoud Pezeshkian via videoconference, boosting the field’s crude oil processing capacity to 160,000 barrels per day.
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Sabzab–Shazand pipeline delivers crude to Shazand refinery
SHANA (Tehran) — Crude oil has reached the Shazand refinery for the first time through the newly commissioned Sabzab–Shazand crude oil pipeline, expanding Iran’s capacity to transport oil from the south to central and northern regions, the head of the Iranian Oil Pipelines and Telecommunications Company said.
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Paknejad says oil sale discounts have declined
SHANA (Tehran) – Iran’s oil minister said discounts offered on Iranian crude sales have steadily declined over the past year, while early data from a new gasoline policy show lower fuel consumption, though he cautioned against drawing short-term conclusions.
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IOOC launches over150 first-of-a-kind research projects
SHANA (Tehran) – Iranian Offshore Oil Company (IOOC) has defined 154 first-of-a-kind research projects with support from the Vice Presidency for Science, Technology and the Knowledge-Based Economy, with more than 25 projects already approved for implementation, the company’s head of research and technology said.
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Research spending soars 11-fold as dozens of projects advance in NISOC
SHANA (Tehran) – The head of research and technology at the National Iranian South Oilfields Company (NISOC) said dozens of projects are underway across research, first-of-its-kind production, graduate studies and artificial intelligence, with research funding rising more than elevenfold over the past five years.
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Arvandan oil output rises with start-up of Darkhovin Well 35
SHANA (Tehran) – The managing director of Arvandan Oil & Gas Company said production has increased following the start-up and flow of Well 35 at the Darkhovin oil field after years of inactivity, adding 4,000 barrels per day to the company’s oil output.