MoU signed for boosting low-yielding oil wells

SHANA (Tehran) – A tripartite agreement was signed to implement the executive guidelines for Article 13 of the Economic Council’s resolution regarding the boosting production of low-yielding oil wells.

PEDEC emphasizes on preserving Hur al-Azim in Sohrab Oilfield development

SHANA (Tehran) – The CEO of the Petroleum Engineering and Development Company (PEDEC) emphasized the importance of protecting the Hur al-Azim wetland during the development of the Sohrab Oilfield at the ninth Joint Management Committee (JMC) meeting for the project. 

Oil minister:

Iran’s oil production capacity to increase by 250,000 bpd

SHANA (Tehran) – The oil minister announced plans to increase oil production capacity by approximately 250,000 barrels per day.

Crude production hike of 30,000 bpd targeted for Sepehr, Jofeir fields

SHANA (Tehran) – The CEO of Pasargad Exploration and Production Company announced that oil production from the Sepehr and Jofeir fields has surpassed 50,000 barrels per day, with hopes to achieve a further increase of 30,000 barrels daily next year. 

Head of Parliament’s Energy Committee:

Energy shortages have accumulated over years

SHANA (Tehran) – The head of the Parliament’s Energy Committee stated that the issue of energy imbalances is not new, adding that challenges in this sector have built up over time and culminated in the current situation as he emphasized the need for short-, medium-, and long-term solutions to address the problem.

Gov’t spox:

Past policy missteps behind current energy imbalances

SHANA (Tehran) – The government spokesperson stated that current imbalances are the outcome of flawed policies from the past, emphasizing that these issues did not arise overnight.

Paknejad:

Oil Ministry, Parliament’s Energy Committee join hands to address energy shortages

SHANA (Tehran) – Iranian Oil Minister Mohsen Paknejad said that discussions with members of the Energy Committee of the Parliament resulted in a consensus around enhancing mutual cooperation to address energy shortages, adding that “The goal is to ensure fuel supply with minimal repercussions.”

CEO:

POGC plays great role in sustainable gas supply

SHANA (Tehran) – The CEO of Pars Oil and Gas Company (POGC) highlighted the company's significant role in ensuring the sustainable supply of gas in the country, stating that the company has consistently played an indispensable part in this effort with 13 refineries and 39 production and support platforms.

NIOPDC announces 36% rise in power plant fuel delivery in Tehran

SHANA (Tehran) – The director of the Tehran branch of the National Iranian Oil Products Distribution Company (NIOPDC) announced a 36% hike in liquid fuel deliveries to the province's power plants over the past two months saying, “The average daily gasoline consumption in Tehran is now 22 million liters, reflecting a 5% increase compared to the same period last year.”

Iran increases daily diesel production by 15m liters under new gov’t

SHANA (Tehran) – A senior official from the National Iranian Oil Refining and Distribution Company (NIORDC) announced an increase of 15 million liters in the country's daily diesel production over the four months of the new government's term.

Oil minister: No challenges in Iran’s oil sales

SHANA (Tehran) – The oil minister addressed rumors about problems with oil sales, dismissing them as baseless and part of psychological operations by adversaries. "We currently have no issues with selling oil," he said, adding "Measures have been taken to ensure we face minimal challenges in the future."

Energy minister: Oil Ministry striving to maximize power plant fuel supply

SHANA (Tehran) – The energy minister praised public cooperation in energy conservation and stated that the Oil Ministry is working diligently to ensure fuel supply for power plants.

CBI governor:

Iran’s crude sales have not decreased

SHANA (Tehran) – The governor of the Central Bank of Iran (CBI) stated that rumors suggesting China will reduce its purchase of Iranian oil in the future are completely false, noting that both oil production and investments are on the rise.

Aref: Energy shortages will be resolved with ongoing measures

SHANA (Tehran) – Iran's First Vice President Mohammadreza Aref said that the imbalance in gas and electricity supply would be addressed through ongoing measures and initiatives.

President:

Iranians consume over two times more energy than Europeans

SHANA (Tehran) – President Masoud Pezeshkian highlighted the excessive energy consumption in Iran, stating, "We use more than two to three times the electricity and gas consumed by European countries.”

Oil minister:

New records in fuel supply achieved

SHANA (Tehran) – The oil minister announced the achievement of new records in fuel supply despite severe cold weather and an energy imbalance.

Development of joint oilfields, key strategy for gov't: VP

SHANA (Tehran) - The first vice president announced  that developing shared oilfields is a key strategy of the 14th administration. 

MP: No short-term solution to energy deficit

SHANA (Tehran) – A member of Iran's parliamentary Energy Committee said on Saturday that liquid fuel was not stored during the first half of the year and was instead consumed.

NIOPDC: Fuel delivery to power plants increases by 41%

SHANA (Tehran) – The CEO of the National Iranian Oil Products Distribution Company announced a 41% increase in liquid fuel delivery to power plants compared to the same period last year, saying that this amounts to an additional 4 billion liters of fuel delivered since the beginning of the current Iranian year (March 20).

China’s oil consumption peaked in 2023, CNPC says

SHANA (Tehran) – China's refined oil consumption peaked in 2023 at 399 million metric tons (7.98 million barrels per day) and is expected to fall 1.3% to 394 million tons in 2024, CNPC Economics & Technology Research Institute said on Friday.

Oil minister calls on citizens to join campaign to reduce heating temperatures by two degrees

SHANA (Tehran) – The oil minister underlined the importance of public participation in the "Reduce heating system temperatures by 2 degrees" campaign, saying he believes the current challenges can be overcome with public cooperation and without significant disruptions. 

Oil Ministry reports increased fuel deliveries to power stations

SHANA (Tehran) – Despite colder weather and increased residential gas consumption, the amount of equivalent fuel supplied to power stations has risen, statistics from the Ministry of Oil indicate.

NIOPDC:

Fuel delivery to power plants increases by 4b liters, up over 40%

SHANA (Tehran) – The CEO of Iran’s National Iranian Oil Products Distribution Company (NIOPDC) announced a 43% increase in the delivery of liquid fuel to power plants compared to last year.

IEA expects comfortably supplied oil market in 2025 despite demand hike

SHANA (Tehran) – The world oil market will be comfortably supplied in 2025, the International Energy Agency (IEA) said on Thursday, even after producer group OPEC+ extended oil supply cuts and a slightly higher than expected demand forecast.

Oil edges lower on IEA surplus forecast

SHANA (Tehran) – Oil prices were down more than 1% on Thursday as a forecast for ample supply in the oil market offset optimism stemming from growing expectations of a US interest rate cut.

Iran’s oil output rises by 37,000 bpd in November, OPEC reports 

SHANA (Tehran) – Iran’s crude oil production increased by 37,000 barrels per day (bpd) in November compared to the previous month, according to the latest report from the Organization of the Petroleum Exporting Countries (OPEC). 

Over 95% of equipment indigenized for Shazand Oil Refinery

SHANA (Tehran) – The managing director of the Shazand Oil Refinery announced that over 95% of the parts and equipment required for the refinery have been localized, expressing hope that, with continued collaboration with domestic manufacturers and producers, this figure could reach 100% by the end of the year.

NIOC exploration chief:

Iran’s High Exploration Council to be revived soon

SHANA (Tehran) – The director of exploration at the National Iranian Oil Company (NIOC) announced that the High Exploration Council is set to be reestablished in the near future as necessary correspondence with NIOC’s CEO has already been undertaken to facilitate its revival.

Human Resources, the Main Asset of Oil Industry

SHANA (Tehran) - Iranian Minister of Petroleum Mohsen Paknejad says that what keeps the oil industry stable is not oil and gas reserves, but its expert human resources.