oil
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Parliament sets NDF's oil export share at 20%
SHANA (Tehran) – Iran's parliament has set the National Development Fund's share of oil export revenue at 20% in next Iranian year's budget, which begins in March 2026.
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Private sector drives shift in upstream oil investment
SHANA (Tehran) – The National Iranian Oil Company (NIOC) has launched a new approach to upstream oil and gas investment centered on private-sector participation, a senior official said.
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Digital oil field: A step toward smarter decision-making
SHANA (Tehran) - The CEO of the National Iranian South Oilfields Company emphasized the need for the oil industry to move toward data-driven management and intelligent decision-making, saying that in today’s global oil industry, competitive advantage lies not only in production but in data analysis and preventive decision-making. As a result, digitalizing oil fields has become an unavoidable necessity.
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Oil can help achieve SDG 7
SHANA (Tehran) –Globally, over 666 million people do not have access to electricity. If those without electricity were a country, they would be the third most populous on earth.
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Iran adds 1,000 kilometers to oil, product pipeline network
SHANA (Tehran) – The head of Iran’s Oil Pipelines and Telecommunications Company said the country has added about 1,000 kilometers of new pipelines, bringing the total length of its crude oil and petroleum product pipeline network to 15,000 kilometers.
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Oil output growth using modern methods on agenda
SHANA (Tehran) – The head of the National Iranian South Oilfields Company said the company’s top priority is producing oil and gas safely and sustainably while fully observing environmental standards, stressing that plans to boost output through modern methods are being pursued in earnest.
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Eight OPEC+ members agree to continue cautious oil output approach
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 February 1, 2026, to review global market conditions and outlook, according to opec.org.
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Leader: Greed for oil, strategic dominance fuels US hostility
SHANA (Tehran) – In a pointed address, Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei asserted that the primary driver of American animosity towards Iran is a desire to seize control of the nation's vast resources and strategic geopolitical standing.
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Oil minister dismisses concerns over possible US deals with Tehran’s customers
SHANA (Tehran) – Oil minister said there is no need for concern that the United States, after gaining control of Venezuelan oil, could strike deals with Iran’s long-standing oil customers such as China.
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OPEC oil basket price rises nearly $2
SHANA (Tehran) – The price of the OPEC oil basket rose by nearly $2 on Thursday (Jan. 29), according to the organization’s secretariat.
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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.