oil
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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.
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Savings should be directed to oil with sound policies
SHANA (Tehran) — A senior economic official said proper policymaking could make oil investments more profitable than gold, redirecting public savings toward the oil industry.
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Sepehr and Jofeir output tops 34m barrels
SHANA (Tehran) – Cumulative oil production from the Sepehr and Jofeir oil fields has surpassed 34.5 million barrels, according to a report presented at the 24th meeting of the Joint Management Committee for the fields’ development and production increase plan.
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First Administrative Health Conference in oil sector to be held
SHANA (Tehran) – The first Administrative Health Conference in Iran’s oil industry will be held Monday at the Oil Ministry’s central headquarters, with senior ministry officials in attendance.
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Bahregan region plays key role in Iran’s offshore oil production, exports
SHANA (Tehran) - The Bahregan operations chief at the Iranian Offshore Oil Company (IOOC) said the region, which covers the major Bahregansar, Hendijan, Soroush and Norouz fields, is not only a center of offshore crude production, but also a strategic hub for receiving, storing and exporting crude oil and condensate.
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OPEC oil output in November stands at 28.48 mbd
SHANA (Tehran) – OPEC’s crude oil production fell by 1,000 barrels per day in November, reaching 28.48 million barrels per day, according to the organization’s latest monthly report issued in December 2025.
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Start of surface facilities work at Yadavaran oil field
SHANA (Tehran) – The development manager of the Yadavaran oil field said the final results of the tenders for surface-facility work packages have been announced, clearing the way for implementation to begin. Two major operational packages — construction of wellhead facilities and pipeline networks — have been awarded to Bina Design and Construction Company and Khatam al-Anbiya Construction Headquarters.
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New step toward stabilizing oil production at Aban, Paydar-e Gharb fields
SHANA (Tehran) – The acting director of the Aban and Paydar-e Gharb oil field development and production enhancement project said the company has prioritized bringing the “Sarvak” oil layer online as its main strategy to stabilize and increase output from the two fields.
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SCI: Oil accounts for 23.7% of economic growth in H1
SHANA (Tehran) – Iran’s economy grew 0.1% with oil and contracted 0.5% without oil in the first six months of 1404, according to new data from the Statistical Center of Iran. The figures show that oil contributed 23.7% to Iran’s economic growth this summer, meaning roughly one-quarter of the country’s overall growth came from the oil sector.
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Changouleh field moves toward producing 60,000 barrels of oil per day
SHANA (Tehran) – The first phase of development at the Changouleh oil field officially entered a new stage today, targeting production of 60,000 barrels of oil per day, as senior oil industry officials attended the launch ceremony.
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Well No. 22 at Yaran Field connected to production network
SHANA (Tehran) – The project manager for the Yaran Field development said installation and commissioning of an electric submersible pump (ESP) in Well No. 22 in the northern section of the Yaran oil field has been successfully completed, and the well has been connected to the production network following performance tests and initial stabilization.