oil

Iran, Japan Senior Officials Keen on Development of Cooperation

TOKYO (Shana) -- In his meeting with the Minister of Foreign Affairs of Japan, the Iranian Minister of Petroleum emphasized the development of cooperation between the two countries.
2022-09-28 18:35
Iran Ready to Play Important Part in Supplying Energy to Japan

TOKOY (Shana) – Iranian Minister of Petroleum Javad Owji voiced Iran’s preparedness to cooperate with Japanese companies in the field on energy, and said: “Iran can play an important role in providing the energy needed by Japan.”
2022-09-28 17:27
Iran Oil Minister Visits Japan on Energy Grounds

TEHRAN (Shana) -- Iranian Minister of Petroleum Javad Owji held meetings with the executives of top Japanese oil and gas firms in Tokyo, in continuation of the 13th administration’s active energy diplomacy.
2022-09-28 14:21
Owji Conveys Iran Message of Condolence to Japan Premier

TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji conveyed the message of condolence of the Islamic Republic of Iran to Fumio Kishida, the Prime Minister of Japan, and Aki Abe, Shinzo Abe's wife.
2022-09-28 14:15
66% Growth in Petchem Exports to Uzbekistan: Official

TEHRAN (Shana) -- The head of international affairs of the National Petrochemical Company (NPC) announced a 66% rise in the export of Iranian petrochemicals to Uzbekistan in 2021 compared to the previous year.
2022-09-28 12:11
Deputy Petroleum Minister meets with Belarusian Envoy

TEHRAN (Shana) -- The deputy Petroleum Minister for International Affairs and Trade had a meeting with the ambassador of the Republic of Belarus in the Islamic Republic of Iran with the aim of expanding the level of cooperation.
2022-09-28 11:23
Owji Meets Major Japanese Oil, Gas Firms

TOKYO (Shana) – Iranian Minister of Petroleum Javad Owji held meetings with the executives of top Japanese oil and gas firms in Tokyo, in continuation of the 13th administration’s active energy diplomacy.
2022-09-28 11:16
Iran Petroleum Minister Attends State Funeral of Japan Ex-Premier

TEHRAN (Shana) -- Iranian Minister of Petroleum Javad Owji attended the state funeral ceremony of late Japanese Prime Minister Shinzo Abe.
2022-09-28 10:04
Petroleum Minister Addresses AGGPM in Japan

TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji addressed the Third Asia Green Growth Partnership Ministerial Meeting (AGGPM) in Japan.
2022-09-26 15:42
Owji Leaves Tehran for Tokyo

TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji and the accompanying delegation left Tehran on Sunday for Tokyo to attend the Asia Green Growth Partnership Ministerial Meeting (AGGPM) and hold multilateral meetings.
2022-09-26 11:50
Owji: Tehran to Boost Energy Ties with Friendly Nations

TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji has indicated that Tehran will boost energy relations with friendly nations, such as China and Russia, amid economic sanctions against the Middle Eastern country.
2022-09-26 10:32
NIOC Announced Iran Crude Price for October Delivery

TEHRAN (Shana) – The National Iranian Oil Company (NIOC) has increased the official selling price of all types of crude oil for delivery to Asian customers in October.
2022-09-24 14:36
$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.
2022-09-24 12:40
NIDC Bracing for Stronger Presence in Persian Gulf

TEHRAN (Shana) -- The CEO of the National Iranian Drilling Company (NIDC) said: With the provision of three offshore drilling rigs, the company's presence in the Persian Gulf waters will become stronger in the near future.
2022-09-20 16:04
Iran Joins SCO as Permanent Member

TEHRAN (Shana) -- The 22nd Shanghai Cooperation Organization (SCO) summit ended on Friday with a positive note. Iran officially joined the SCO, and all the participants signed the Samarkand Declaration in the end.
2022-09-20 12:04
SCO Accession helps Turn Iran into Regional Energy Hub: MP

TEHRAN (Shana) -- A member of the Parliament's Energy Committee published a tweet, saying: “Iran's permanent membership in the Shanghai Cooperation Organization (SCO) is a result of the administration’s targeted diplomacy with its neighbors which is laudable.”
2022-09-20 12:00
Defining Moments for Oil and Gas

TEHRAN (Shana) -- Energy prices went up sharply after February 24 when first Russian troops entered Ukraine. By late March 2022, it hit above $ 120.40 per barrel for Brent briefly but retreated to around $110 per barrel, though, the average price of crude oil was $105 per barrel for the first half of 2022. The slow and cautious reaction of oil market towards such major geographical escalation that would potentially cut over 6.7 mb/d of crude and products from Russia is an interesting phenomenon worth analyzing. Let’s be reminded that the international crude oil prices touched $147 per barrel back in 2008 after the United States descended into recession.
2022-09-10 15:55
$7bn MOU Signed for Azadegan Development

TEHRAN (Shana) -- A $7 billion memorandum of understanding has been signed by National Iranian Oil Company (NIOC) and Iranian banks and E&P companies to develop the entire giant Azadegan oil field.
2022-09-10 15:53
Russia-Ukraine War Impact

Oil Players Displaced

TEHRAN (Shana) -- The Russia-Ukraine war is not just a military conflict between Moscow and Kiev. Moreover, the consequences of the war are not limited to the geography of Europe. At the same time, the war is not limited to the political and military domains, and has had significant economic consequences. One of these consequences has been affecting the global energy markets. In addition to the spike in global oil prices to $120 a barrel, which is a direct consequence of the war, changes have also occurred in the field of trading oil, which, if continues, could change the trading pattern of many countries.
2022-09-10 15:51
Karoon Petchem Plant Unveils 5th Knowledge-based Item

TEHRAN (Shana) -- Karoon Petrochemical Company has unveiled its fifth knowledge-based product, in cooperation with a knowledge-based company, which can save $10 million by meeting domestic needs.
2022-09-07 14:27
Iran, Japan hold Seminar on Net Zero Emissions by 2050

TEHRAN (Shana) – An educational seminar entitled "Introduction of Japan's policies in using hydrogen and ammonia to achieve zero carbon emissions by 2050" was held in Tehran.
2022-09-06 17:43
Framework of Iran-Uzbekistan Energy Cooperation Sketched

TEHRAN (Shana) -- The Iranian Deputy Petroleum Minister of International Affairs and Trade determined the framework of cooperation between the two countries in the energy sector in a meeting with the Acting Minister of Energy of Uzbekistan.
2022-09-06 17:27
$600m Petchem Value Chain Completion Projects underway under way in Petrol

TEHRAN (Shana) -- The CEO of Petrol said $600 million projects are being implemented by the company in order to complete the value chain of the petrochemical industry.
2022-09-06 17:10
Min. Voices Iran Readiness to Help Global Energy Security

TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said the global energy market needs an increase in the supply of oil from Iran, adding: “As a major producer of oil and petroleum products, we are always ready to play our role in providing oil and gas away from politics. and help improve energy security in the world.”
2022-09-05 19:14
32nd OPEC+ Meeting Kicks off Online

TEHRAN (Shana) -- The 32nd meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) started a few minutes ago via videoconference.
2022-09-05 16:36
Reviving Iran’s Energy Diplomacy: Step by Step

TEHRAN (Shana) -- Holding 17.3% of the world's proven natural gas reserves, Iran is only second to Russia. Meanwhile, Turkmenistan ranks sixth with 3.8%. In 2021, Turkmenistan produced 83.7729 billion cubic meters (bcm) of natural gas and exported about 34 bcm to China, the largest importer of Turkmen gas, and that is why China has a high bargaining chip against Turkmenistan, encouraging the latter to seek to diversify its export destinations not to depend on a single buyer. According to BP and Azerbaijan's Ministry of Energy, the volume of Republic of Azerbaijan's natural gas reserves in 2021 was estimated at 2,500 bcm.
2022-09-04 15:55
High-ranking MOP delegation to visit Uzbekistan

TEHRAN (Shana) – A high-profile delegation of the Iranian Ministry of Petroleum, headed by the Deputy Minister of Petroleum for International Affairs and Trade, is going to Uzbekistan to prepare the first oil memorandum of understanding with Uzbekistan for signing at the upcoming Shanghai summit.
2022-09-03 17:13
500k Barrels Increase in Persian Gulf Crude Oil Storage Capacity

TEHRAN (Shana) -- The capacity of crude oil storage in the Persian Gulf increased by 500,000 barrels with the operation of the reconstruction and overhaul project of Tank No. 4 of the Behrgan region of Iranian Offshore Oil Company (IOOC).
2022-09-03 17:05
OGTIP Signs MoU with Uzbek Firm

TEHRAN (Shana) -- Oil and Gas Technology and Innovation Park (OGTIP) and Mr-Fish Fergana Oil and Gas Holding of Uzbekistan signed a memorandum of understanding in the field of energy.
2022-09-03 16:57
Drilling Structure, Infrastructure Fully Iranian

TEHRAN (Shana) -- Among oil and gas-rich nations in the world, Iran remains one of the leading extractors of oil and gas.More than a century has passed since the William Knox D’Arcy team, led by Marriot, drilled the first oil well in Iran. The first oil well in Iran was drilled in the Chia Sorkh, or ChahSorkh (literally red well) northwest of Qasr-e Shirin. The well struck oil in summer 1903 at the depth of 507 meters.
2022-09-03 13:24