Oil Industry

Iran's oil min. rebukes US treasury chief on fuel shortage

TEHRAN, Oct. 28 (MNA) – Iran’s caretake oil minister has lashed out at US Treasury secretary for making baseless claims on impending fuel shortages in Iran, telling him to instead focus on the skyrocketing energy costs burdening American citizens.

Oil prices rise as Brent hits $110 on WA supply concerns

TEHRAN, Oct. 21 (MNA) – Oil prices have risen on Wednesday on West Asia supply concerns, with traders wary of Red Sea shipping risks.

Oil prices edge higher as traders weigh Saudi supply risks

TEHRAN, Oct. 14 (MNA) – Oil prices are continuing their upward trajectory, with Brent crude futures gaining 89 cents, or 0.8 percent, as of 00:30 GMT to reach $106.58 a barrel.

Crude prices rise sharply again, Brent nears $110 per barrel

TEHRAN, Oct. 06 (MNA) – Oil prices are rising sharply again following the conflict in the West Asia region in a way that West Texas Intermediate (WTI) and Brent crude oils registered a considerable price hike.

Fuel supply stable despite South Pars output drop: NIGC

TEHRAN, Oct. 04 (MNA) – The head of the National Iranian Gas Company said the country maintained stable fuel supplies to power plants and industry in the first six months of the year, even as production at the South Pars gas field declined.

Aide to Leader:

Oil industry plays key role in national power equation

TEHRAN, Sep. 27 (MNA) – A senior military advisor to the Leader of the Islamic Revolution, says that the oil industry constitutes a part of national strength and security.

Despite 550 strikes on Kharg Island:

Iran exported its crude oil during US-Israeli aggression

TEHRAN, Sep. 07 (MNA) – Iran kept oil exports flowing during the US and Israeli war of aggression against the country in spite of 550 strikes on Kharg Island, the Iranian Oil Minister Mohsen Paknejad opined.

US strategic petroleum reserves fall by 3.7m barrels: report

TEHRAN, Aug. 25 (MNA) – Stocks of crude oil in the ‌U.S. Strategic Petroleum Reserve fell by about 3.7 million ⁠barrels to 289.7 million barrels last week, the lowest level since November 1982, according ‌to ⁠data from the Department of Energy.

US strategic oil reserve drops to lowest level since 1982

TEHRAN, Aug. 18 (MNA) – Crude oil stocks in the US Strategic Petroleum Reserve fell by about 5.3 million barrels last week to their lowest level since 1982, government data showed Monday.

Iran’s oil shipments reached 80m barrels in 26 days

TEHRAN, Jul. 14 (MNA) – TankerTrackers, a maritime traffic monitoring service, reported Iran has exported over 80 million barrels of crude oil and refined petroleum products over the past four weeks, with the shipments currently valued at $6 billion.

Iran, India urge broadening relations in oil, energy sectors

TEHRAN, Jun. 26 (MNA) – Iran’s Oil Minister Mohsen Paknejad and India’s Petroleum and Natural Gas Minister Hardeep Singh Puri have emphasized the importance of developing, strengthening, and enhancing bilateral cooperation in oil and energy sectors.

Damaged oil facilities being rebuilt as quickly as possible

TEHRAN, May 06 (MNA) – Oil minister said rebuilding damaged oil industry facilities is a priority and is now progressing well.

Ghalibaf warns global oil traders on 'house of cards' pricing

TEHRAN, Apr. 20 (MNA) – Iranian Parliament Speaker Mohammad Bagher Ghalibaf has warned the global oil market participants against relying on unreliable “vibe-trading digital oil,”, urging them to focus instead on real physical oil transactions.

Tehran, Moscow jointly developing 7 oil fields: Minister

TEHRAN, Feb. 18 (MNA) – Iran’s Minister of Oil, Mohsen Paknejad, announced that seven Iranian oil fields are under joint development with Russian companies through four contracts.

Iran, Russia boost ties with new cooperation document, MoUs

TEHRAN, Feb. 18 (MNA) – Iran and Russia have signed a cooperation document along with four memoranda of understanding following the 19th session of the Iran-Russia Joint Economic Commission held in Tehran.

Oil industry plays key role in countering external pressure

TEHRAN, Feb. 10 (MNA) – Iran’s oil minister marked the 47th anniversary of the Islamic Revolution by stressing the need to strengthen domestic capabilities, saying the sector plays a key role in countering pressures.

Iran’s oil output to increase by 135k bpd: NIOC CEO

TEHRAN, Jan. 21 (MNA) –The chief executive of the National Iranian Oil Company (NIOC) says the country’s oil production will increase by 135,000 barrels per day (bpd) with the execution of contracts to purchase crude processing services of oilfields.

China to replace Venezuelan oil with Iranian oil: analysts

TEHRAN, Jan. 07 (MNA) – Chinese independent refiners are expected to increasingly rely on Iranian heavy crude in the coming months, as Venezuelan oil shipments to China stall after the United States moved to redirect Venezuelan exports, analysts say.

Iran opens 2nd largest oil processing unit in West Karun area

TEHRAN, Dec. 25 (MNA) – At the order of Iranian President Masoud Pezeshkian, the country’s largest oil processing (Central Treatment and Export Plant (CTEP) unit was inaugurated in West Karun in Ahvaz on Thursday via videoconference.

Trump aide Miller claims Venezuelan oil belongs to US

TEHRAN, Dec. 18 (MNA) – Stephen Miller, a top aide to United States President Donald Trump, has claimed that Venezuela’s oil belongs to Washington, describing the nationalization of the South American country’s petroleum industry as “theft”.

Tehran invites foreign partners to expanded energy Coop.

TEHRAN, Dec. 09 (MNA) – In a meeting with Belarus’s industry minister, Iran’s oil minister emphasized that Tehran has prepared a portfolio of oil and gas contracts aimed at attracting friendly partners.

IRGC general says;

Strait of Hormuz remains world’s most strategic zone

TEHRAN, Dec. 04 (MNA) – Deputy Commander-in-Chief of the Islamic Revolution Guard Corps (IRGC) warned that no country can diminish the global importance of the Strait of Hormuz, stressing Iran’s role in securing the world's key energy corridor.

Venezuela extends Russian oil ventures

TEHRAN, Nov. 21 (MNA) – The Venezuelan parliament has approved a 15-year extension of joint ventures between state company PDVSA and Russian oil firm Roszarubezhneft, according to a statement on the National Assembly’s website.

Oil up over 2% after Ukraine attacks on Russia

TEHRAN, Nov. 15 (MNA) – The Ukrainian strikes on Russia has sent shockwaves through global oil markets, pushing prices up by more than 2% amid fears of supply disruptions.