Iran on track to become region’s largest oil industry operations hub

SHANA (Tehran) – The CEO of the National Iranian Oil Company (NIOC) said Iran is on its way to becoming the largest operational hub for the oil industry in the region.

President Pezeshkian visits Iran Oil Show 2025

SHANA (Tehran) – President Masoud Pezeshkian visited various sections of the 29th International Oil, Gas, Refining & Petrochemical Exhibition (Iran Oil Show 2025) on Thursday, shortly after its official opening by Oil Minister Mohsen Paknejad.

NIDC drills eight oil, gas wells

SHANA (Tehran) – The deputy CEO of the National Iranian Drilling Company (NIDC) for drilling operations announced the drilling and completion of eight oil and gas wells using the company’s rigs during Farvardin (March 21–April 20), the first month of the Iranian calendar year.

Early fulfillment of production targets achieved in three western oil fields

SHANA (Tehran) – The executor of the development plan for the Cheshmeh-Khosh, Dalpari, and Paydar Sharq oil fields announced that these three fields achieved their annual production targets in 2024, even exceeding the planned ceiling—a success that boosted the project’s revenue by over $200 million.

Daily production at SP gas field equivalent to 4.5m barrels of crude oil

SHANA (Tehran) – The gas production at South Pars field is equivalent to 4.5 million barrels of crude oil per day, according to the oil and gas engineering director of Pars Oil and Gas Company. He noted that this significant output supplies the majority of Iran’s consumed gas and gas condensates, as well as feedstock for 40% of the country’s gasoline production.

NIOC shifts approach to attracting domestic, int’l investors

SHANA (Tehran) – The head of investment opportunity identification and development at National Iranian Oil Company (NIOC) said the company has changed its approach to offering investment opportunities, emphasizing a new strategy to build mutual trust with investors through incentives.

Oil minister reports on investment conference in oil sector

SHANA (Tehran) – The oil minister presented a report at today’s Cabinet meeting on developments in investment and expansion in Iran’s upstream oil and gas sector.

Iran’s official oil prices for May announced

SHANA (Tehran) – The National Iranian Oil Company has set the official selling prices (OSP) for its crude oil in May 2025.

Private sector involvement in oil product distribution

SHANA (Tehran) – The CEO of the National Iranian Oil Products Distribution Company (NIOPDC) announced plans to maximize private sector participation in storage, transportation, and distribution of oil products, stating that government involvement in these areas must be reduced in line with upstream policies and directives.

50 gas fields to be developed with $41b investment

SHANA (Tehran) – The acting head of engineering and development at the National Iranian Oil Company announced that investment packages have been prepared to develop 50 gas fields, aiming to increase daily gas production capacity by 500 million cubic meters.

Accelerating refining industry development with focus on priority projects

SHANA (Tehran) – The investment director of the National Iranian Oil Refining and Distribution Company (NIORDC) emphasized the need for a detailed strategic plan to achieve the refining industry’s vision, stating that implementing new policies to attract investment, ensure energy security, and improve supply chain efficiency is essential.

More incentives provided for joint oilfield development

SHANA (Tehran) – The deputy engineering and development director of the National Iranian Oil Company (NIOC) said legal incentives and facilitation measures have been provided for investors in the development of shared oil and gas fields, which exceed those for independent fields.

NIOC plans comprehensive flare gas recovery program

SHANA (Tehran) – The deputy director of investment at the National Iranian Oil Company (NIOC) announced new plans to accelerate flare gas recovery and optimize the use of this valuable resource, stating that NIOC is prepared to offer a package of incentives to attract investors in this sector.

World Bank model proposed for transferring partial project management to private sector

SHANA (Tehran) – Majid Mortezaei, head of development investment and partnership management at the National Iranian Oil Company’s Investment Management, pointed to the World Bank’s model for infrastructure projects, stating that a key aspect of this approach involves transferring part of project management to the private sector and using performance- and quality-based contract models.

Oil Guarantee Fund to support upstream projects

SHANA (Tehran) – The CEO of the National Iranian Oil Company announced the launch of a non-governmental Oil Guarantee Fund with an initial capital of €300 million, stating that the fund will enable the issuance of necessary guarantees worth billions of euros for upstream projects.

NIORDC urges

Strengthening gov’t-private sector collaboration to attract investment

SHANA (Tehran) - The CEO of the National Iranian Oil Refining and Distribution Company (NIORDC) emphasized the importance of transparent investment processes and removing administrative barriers, stating that existing interactions between the public and private sectors must increase to facilitate new investment opportunities.

Introduction of new exploratory opportunities for investment

SHANA (Tehran) – Officials from the National Iranian Oil Company (NIOC) presented the latest geological achievements and studies at a conference introducing oil exploration projects, highlighting the significant potential of various regions across the country for oil and gas exploration and production.

Examining IPC contract models at the investment transformation event

SHANA (Tehran) – The contractual models of Iran’s Petroleum Contract (IPC) were introduced and reviewed during a specialized session at the Investment and Development Transformation Event in Iran’s upstream oil and gas sector.