Oil Industry

Iran says ready for new investment in its oil sector

TEHRAN, Mar. 19 (MNA) – The Iranian Oil Ministry has issued a statement saying that it would welcome any offer for foreign investment in its oil and gas projects.

Iran’s oil exports up 0.57 mln bpd from 2020: Owji

TEHRAN, Mar. 12 (MNA) – Oil Minister says Iran’s crude oil export rose by an average of half a million barrels per day (bpd) last year compared to 2020.

Iran’s oil exports to increase in coming months: Owji

TEHRAN, Mar. 05 (MNA) – Iranian Oil Minister Javad Owji says crude oil exports from the country will further increase in the upcoming months despite the growing pressure of the US sanctions on the Iranian energy sector.

79 police officers taken hostage in Colombia

TEHRAN, Mar. 04 (MNA) – Violence broke out in Colombia this week with protestors taking seventy-nine police officers hostages.

South Pars 14th Phase refinery inaugurated

TEHRAN, Mar. 02 (MNA) – The 14th phase of the South Pars Refinery was inaugurated on Thursday in the presence of Iranian President Ebrahim Raeisi.

Tehran, Moscow discuss delivery of chemicals,oil, gas to Iran

TEHRAN, Mar. 01 (MNA) – Moscow and Tehran discussed the prospects for supplies of medical and oil and gas equipment, as well as chemical products to Iran, the press service of Russia’s Economic Development Ministry reported on Wednesday.

Iran, Turkmenistan discuss expansion of energy cooperation

TEHRAN, Feb. 19 (MNA) – On the sidelines of the 14th Specialized Economic Exhibition of the Islamic Republic of Iran in Ashgabat, the Iranian and Turkmen delegations met and held talks to discuss developing cooperation.

Iran reports major surge in petchem, oil products exports

TEHRAN, Feb. 15 (MNA) – Iran has reported major increases in exports of certain petrochemicals and oil products in the calendar year that started in late March 2022.

EUCO approves $100 price cap for Russian diesel fuel

TEHRAN, Feb. 04 (MNA) – The European Council (EUCO) officially approved the decision to impose the price cap on Russian oil products, shipped by sea, at $100 for diesel fuel and $45 for products that trade at a discount.

Iran awards $500mn worth of contracts to revive oil wells

TEHRAN, Jan. 24 (MNA) – Iran’s state oil company the NIOC has awarded some $500 million worth of contracts to domestic companies to revive low-production oil wells in the country.

Iran’s rank improved among top oil producers

TEHRAN, Jan. 23 (MNA) – Iran’s position improved in the ranking of the top oil producers in the world, OPEC reported.

Iran to launch $8b oil projects by March 2023

TEHRAN, Jan. 07 (MNA) – Iranian Oil Minister Javad Owji said a number of unfinished petroleum projects worth $8 billion in total are scheduled to come on stream by the end of the current Iranian calendar year to March 23, 2023.

Iran, Belarus to sign MoU on scientific coop. in oil industry

TEHRAN, Dec. 27 (MNA) – Iran’s Petroleum University of Technology (PUT) and the Belarusian State Technological University (BSTU) will sign a memorandum of understanding for cooperation through video conference.

PGPIC production capacity to reach 46 mn tons by 2026

TEHRAN, Dec. 21 (MNA) – The installed capacity of Persian Gulf Petrochemical Industries Company (PGPIC) is planned to hit 46 million tons per year by 2026 from currently 28 mt/y, an official with the holding says.

Iran increases oil output to 3 mn barrels per day: Owji

TEHRAN, Dec. 21 (MNA) – The Iranian Oil Minister announced that Iran’s oil production has reached 3 million barrels per day. 

Isfahan Refinery’s Euro-5 diesel production increases by 300%

TEHRAN, Dec. 20 (MNA) – Diesel production complying with Euro-5 standards at the Isfahan Oil Refining Company has increased by 300% to reach 20 million liters per day, the oil minister said.

Oil Min.:

Iran, China conclude good agreement on joint oil, gas fields

TEHRAN, Dec. 14 (MNA) – Referring to the Chinese Deputy Prime Minister's visit to Tehran, the Iranian Oil Minister announced that good agreements were agreed upon with the Chinese side regarding the development of oil and gas fields.

Iranian oil tanker reportedly arrives in Venezuela

TEHRAN, Dec. 07 (MNA) – Media sources on Tuesday reported that an Iranian tanker carrying about 2 million barrels of ultra-light oil arrived this week in Venezuelan waters.

West sets 4 conditions for not supporting riots in Iran 

TEHRAN, Dec. 06 (MNA) – Several Western countries supporting recent riots in Iran set some conditions for not supporting the rioters.

Iran, Iraq form joint oil working group

TEHRAN, Dec. 04 (MNA) – The oil ministries of the Islamic Republic of Iran and Iraq announced their agreement to establish a joint oil working group.

Kremlin says;

Russia not to accept price cap imposed by Brussels

TEHRAN, Dec. 04 (MNA) – Russia will not recognize a so-called ‘price cap’ on Russian oil which the European Union adopted this week, officials announced Saturday.

Iran, Venezuela oil ministers discuss energy cooperation

TEHRAN, Dec. 02 (MNA) – Iranian Oil Minister Javad Owji and his Venezuelan counterpart in a phone conversation on Thursday night discussed the Tehran-Caracas bilateral cooperation in the field of energy.

Iran ready to engage in Iraq oil, gas projects

TEHRAN, Nov. 28 (MNA) – The CEO of the Iranian Gas Engineering and Development Company (IGEDC) announced Iran's readiness to participate in Iraq's oil and gas projects.

EU plans to postpone price cap on Russian oil

TEHRAN, Nov. 23 (MNA) – Brussels plans to soften the conditions of a price cap on Russian oil, US media reported, citing an internal EU document.

US forces continue smuggling Syrian oil to Iraq

TEHRAN, Nov. 23 (MNA) – Syrian news sources reported that American forces continue to steal Syria's oil, smuggling it to Iraq.

Germany denies secret oil talks with Iran: report

TEHRAN, Nov. 16 (MNA) – Reacting to claims over secret talks with Tehran over oil purchase, the German foreign ministry on Tuesday said that the federal government has not engaged in talks with Iran to purchase its oil and gas.

US forces steal 43 oil tankers from Syria's oil fields

TEHRAN, Nov. 07 (MNA) – Local sources in the northeast of Syria once again reported the stealing of Syrian oil by the American army and its transfer to Iraq.

Iran, Russia ink 4 cooperation documents

TEHRAN, Nov. 01 (MNA) – Iran and Russia signed four cooperation documents at the 16th Joint Commission for Economic Cooperation aiming at expanding the relations between the two countries.