Oil Industry

Iran begins gas production from first infill well at S Pars

TEHRAN, Mar. 12 (MNA) – Iran started gas production from its first infill well at South Pars, the country’s largest gas field in the Persian Gulf, increasing supply to meet growing energy demand.

Iran, Iraq discuss ways to strengthen energy partnership

TEHRAN, Mar. 05 (MNA) – Iran's Oil Minister Mohsen Paknejad and Iraq’s Minister of Electricity Ziad Ali Fadel met on Wednesday to discuss improving cooperation in energy sectors including oil, gas, petrochemicals, and electricity.

OPEC+ to raise output for first time since 2022

TEHRAN, Mar. 04 (MNA) – The Organization of the Petroleum Exporting Countries and its allies, a grouping known as OPEC+, has decided to go ahead with plans to increase its production in April after three years of imposing cuts.

NIOC announces Iranian crude oil OSP for March

TEHRAN, Mar. 03 (MNA) – National Iranian Oil Company (NIOC) has set official selling prices (OSP) for Iranian crude oil in March, so that Iran’s light crude oil will be priced $4.35 above the benchmark price (Oman/Dubai crude) for Asian customers.

Iran’s GDP grows 3.1% in 9 months, fueled by oil sector

TEHRAN, Mar. 01 (MNA) – Iran's gross domestic product (GDP) grew by 3.1% year-over-year in the first nine months of the current Iranian calendar year 1403 (March 20–December 20, 2024), including oil.

Iranian oil supply to China in set to rebound in March 2025

TEHRAN, Mar. 01 (MNA) – China's imports of Iranian oil is set to rebound in March as non-sanctioned tankers, drawn by lucrative payoffs, joined the trade replacing vessels under US embargo, trade sources and analysts said.

Iraq, Russia discussing supplies of oil and gas equipment

TEHRAN, Feb. 27 (MNA) – Moscow has suggested that Baghdad move to joint standards of oil and gas equipment, which is necessary for organizing supplies from Russia, Russian Energy Minister Sergey Tsivilyov told reporters.

Iran reacts to fresh US sanctions on its oil trade

TEHRAN, Feb. 26 (MNA) – Iran’s Foreign Ministry spokesman Esmaeil Baghaei strongly reacted to the latest US sanctions targeting vessels, individuals, and entities allegedly involved in Iran’s crude oil trade.

Incident reported in Shazand Oil Refinery

TEHRAN, Feb. 25 (MNA) – Media sources reported a fire incident in one of the units of Shazand Oil Refinery in Arak city of Markazi province on Tuesday.

Oil industry faces $17.4 trillion investment demand: OPEC SC

TEHRAN, Feb. 23 (MNA) – Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Haitham Al Ghais says that the oil industry needs $17.4 trillion worth of investment.

Iraq rejects oil exports from Kurdistan under US pressure

TEHRAN, Feb. 23 (MNA) – Iraqi authorities have rejected reports that they have allowed a resumption of oil exports from the Kurdistan region because of threats by the US government.

US piles pressure on Iraq to resume Kurdish oil exports

TEHRAN, Feb. 22 (MNA) – US President Donald Trump's administration is piling pressure on Iraq to allow Kurdish oil exports, a report says.

Iran's crude oil exports to China surges despite US sanctions

TEHRAN, Feb. 20 (MNA) – Iranian crude oil flows to China have rebounded this month after a US sanctions on shipments launched in late 2024 decimated them in January.

NIORDC announces five mega technology projects

TEHRAN, Feb. 20 (MNA) – The research and technology director of the National Iranian Oil Refining and Distribution Company (NIORDC) has announced the launch of five mega technology projects in the refining industry.

Report:

Iraq to ban more banks from US dollar transactions

TEHRAN, Feb. 17 (MNA) – Iraq is working with the United States to ban more local banks and financial firms from engaging in US dollar transactions, according to a report.

Trump will not achieve his goals regarding Iran’s oil exports

TEHRAN, Feb. 10 (MNA) – Iran's oil minister says that Donald Trump will never achieve his goals regarding Iran’s oil exports.

NIORDC head:

PG Star Refinery among achievements of Islamic Revolution

TEHRAN, Feb. 09 (MNA) – The development of gas fields and construction of the Persian Gulf Star Refinery are the most significant achievements of the oil industry in the 46 years since the Revolution, CEO of NIORDC states.

Oil min. warns unilateral sanctions destabilize oil market

TEHRAN, Feb. 05 (MNA) – Iran’s Oil Minister Mohsen Paknejad met Secretary-General of Organization of Petroleum Exporting Countries (OPEC) Haitham al-Ghais on Wed., saying unilateral sanctions against major oil producers threaten global energy market.

Oil falls amid US tariff pause on Mexico, Canada

TEHRAN, Feb. 04 (MNA) – Oil prices retreated on Tuesday as Donald Trump paused for a month a decision on steep tariffs on Mexico and Canada, the US' biggest foreign oil suppliers, while prospects of higher OPEC+ supplies from April also weighed.

Sudan eyes Iran’s knowhow to build upstream oil industry

TEHRAN, Jan. 30 (MNA) – Sudan, which has its own downstream oil industry, could benefit from Iran’s upstream expertise and petrochemical products to set up its upstream oil industry, according to a Sudanese official.

Phase 2 of Ahvaz crude desalination plant inaugurated

TEHRAN, Jan. 22 (MNA) – Phase 2 of the Ahvaz Central Desalination Unit was officially inaugurated on Wednesday under the directive of President Masoud Pezeshkian and in the presence of Oil Minister Mohsen Paknejad.

Iran inaugurates trade center in Minsk, Belarus

TEHRAN, Jan. 17 (MNA) – Iran's Minister of Industry, Mine and Trade Mohammad Atabak and Head of Trade Promotion Organization of Iran (TPOI) Mohammad Ali Dehghani Dehnavi inaugurated Iran's Trade Center in Minsk, Belarus on Friday.

Iran’s official oil prices for January released

TEHRAN, Jan. 06 (MNA) – The National Iranian Oil Company (NIOC) released the official selling prices for Iranian crude oil in January 2025.

Iran private sector operates 1st oil dock in South Pars

TEHRAN, Jan. 04 (MNA) – The first oil dock built by the Iranian private sector has become operational in Kangan located in the southern province of Bushehr.

In 9-month period:

Over 170 mln tons of goods loaded, unloaded at Iranian ports

TEHRAN, Jan. 04 (MNA) – Iranian Ports and Maritime Organization (PMO) on Saturday announced 175 million tons of goods were loaded and unloaded at Iranian ports in first nine months of the current Iranian calendar year (March 21 to December 22, 2024).

Iran to unveil 1st road refueling tanker using AI: CEO

TEHRAN, Dec. 31 (MNA) – The chief executive of the National Iranian Oil Refining and Distribution Company (NIORDC) says that the first road refueling tanker will be unveiled in the country using Artificial Intelligence (AI).

Iran unveils 1st oil well equipped with AI

TEHRAN, Dec. 25 (MNA) –The Iranian Vice President for Science, Technology, and Knowledge-Based Economy inaugurated the first the Management Center of Wells Reservoir and Facility Management (WRFM) in Tehran on Tuesday.

Oil min.:

Iran does not use gas as tool for political purposes

TEHRAN, Dec. 07 (MNA) – Despite facing domestic restrictions and unilateral US sanctions, Iran has always been committed to exporting gas to Turkey and Iraq and has never taken political advantage of this privilege, the Iranian oil minister stated.

By 2028;

Iran’s daily gas supply from storage caverns to hit 100 mcm

TEHRAN, Oct. 20 (MNA) – Iran’s Oil Ministry is expanding its natural gas storage capacity to reach a target of 100 million cubic meters (mcm) per day of supply from storage caverns to the country's gas grid by 2028.

OPEC reports slight increase in Iran oil output in September

TEHRAN, Oct. 15 (MNA) – Iran’s oil production continued to rise in September despite a global decline in output and restrictions imposed on the country’s exports because of US sanctions.