Oil Production

Petchem plant output exceeds expectations since March

TEHRAN, Nov. 05 (MNA) – The productivity of Tondgouyan Petrochemical Company, the largest supplier of PET in Iran, stood at 103% of its nameplate capacity in the first 7 months of the current calendar year, which began on March 21.
2019-11-05 10:49
NIDC manufactures well acidizing equipment

TEHRAN, Nov. 03 (MNA) – Iranian experts at the National Iranian Drilling Company (NIDC) have successfully designed and built batch mixers, which are used in well acidizing operations on offshore platforms.
2019-11-03 09:56
NIOC seeking novel financing methods to fund petchem projects: CEO

TEHRAN, Oct. 17 (MNA) – The National Iranian Oil Company (NIOC) CEO said his company was considering the use of a variety of securities and new methods of financing to attract public capitals to accelerate implementation of oil and gas projects.
2019-10-17 10:32
Iranian firms ready to step in exploration projects

TEHRAN, Oct. 13 (MNA) – The Oil Industries Engineering and Construction (OIEC) and Negin Afagh Kish Energy Development Company (TENCO) have expressed their readiness to step in sophisticated exploration projects in Iran.
2019-10-13 20:22
Former Turkish PM's adviser :

Turkey might bring in Russia, China, Iran to team up in new regional energy corridors

TEHRAN, Sep. 28 (MNA) –Referring to EU and the US partial policy toward energy resources in Mediterranean Sea and the Middle East, Mehmet Ogutcu says Turkey might bring in Russia, China and Iran to team up in the new energy corridors in this region.
2019-09-28 17:16
Iran, Syria private sector firms to cooperate in oil projects

TEHRAN, Sep. 26 (MNA) – The Syrian minister of petroleum and mineral resources visited Iran’s chamber of commerce, voicing the interests of his country’s private sector in joint economic activities with Iranian partners.
2019-09-26 15:00
By: Payman Yazdani & Javad Heiran Nia

Iranian viewpoint: US’ strategy to play major role in global energy market

TEHRAN, Sep. 23 (MNA) – Enjoying the world’s major shale oil reserves and thanks to its technological power the United States has become independent from the Persian Gulf and the Middle East oil and is positioning itself to play a major role in world energy market.
2019-09-23 17:26
Saudi Arabia tells Japan's biggest refiner about possible shipment change: report

TEHRAN, Sep. 22 (MNA) – Saudi state oil firm Aramco has told Japanese refiner JXTG Nippon Oil & Energy about a possible change in shipment, raising concern about the kingdom’s ability to supply crude oil a week after attacks on its refineries.
2019-09-22 16:11
Chairman of London Energy Club:

US might topple Saudi Arabia as the world's top oil exporter sooner than planned

TEHRAN, Sep. 17 (MNA) – Commenting on recent drone attack on Saudi Aramco Mehmet Ogutcu says prior to this attack, the US was planning to double its crude oil exports to 9 million barrels per day by 2024. That means the US might topple Saudi Arabia as the world's top oil exporter sooner than planned.
2019-09-17 12:52
Geopolitical expert talks of US plan to grab Saudi oil share from global market

TEHRAN, Sep. 16 (MNA) – Anthony Cartalucci says it surely is no coincidence the US is targeting virtually every major energy producer from Iran, Venezuela, and Russia, but also including its own "allies" such as Saudi Arabia.
2019-09-16 16:52
Iran oil industry developing despite sanctions: official

TEHRAN, Sep. 16 (MNA) – A senior Iranian oil official said that the industry is developing in the country despite the US’ economic sanctions.
2019-09-16 11:51
NIDC drills 124 oil, gas wells in a year

TEHRAN, Aug. 27 (MNA) – National Iranian Drilling Company (NIDC), a subsidiary of National Iranian Oil Company, has dug 124 oil and gas wells across the country during the past year, a senior official said.
2019-08-27 10:11
Iranian firm to develop South Pars oil layer under IPC

TEHRAN, Aug. 24 (MNA) – National Iranian Oil Company is set to grant the development project of the South Pars oil layer, in the Persian Gulf, to a domestic company, a senior official said.
2019-08-24 08:55
US doesn’t need Middle East oil, natural gas anymore: Trump

TEHRAN, Aug. 14 (MNA) – The US President Donald Trump said that the US is now seeking to dominate the world energy market, adding that Washington's dependence on West Asian energy has come to an end.
2019-08-14 12:48
SZOGPC self-sufficient in manufacture, repair of oil industry equipment

TEHRAN, Aug. 14 (MNA) – South Zagros Oil and Gas Production Company, a subsidiary of the National Iranian Oil Company, has manufactured or repaired the 521 items needed in the oil and gas industry.
2019-08-14 08:43
2mn barrels of light crude at today’s energy exchange

TEHRAN, Aug. 13 (MNA) – National Iranian Oil Company will offer light crude oil at today’s session of Iran Energy Exchange (IRENEX).
2019-08-13 11:50
Oil production to remain stable in Persian Gulf: official

TEHRAN, Aug. 05 (MNA) – Energy Deputy of Iran's Passive Defense Organization said that oil production will always remain stable in the Persian Gulf and the region will be protected like a "precious pearl" by Iran.
2019-08-05 17:52
NIDC drills 41 oil, gas wells in 4 months

TEHRAN, Jul. 29 (MNA) – The National Iranian Drilling Company (NIDC), a subsidiary of the National Iranian Oil Company, has successfully spudded 41 oil and gas wells since March.
2019-07-29 08:50
PEDEC enhances Yaran joint oilfield output using mobile processing unit

TEHRAN, Jul. 21 (MNA) – In line with the efforts to boost the oil prodcution in major Iranian oilfields, a mobile oil separator (MOS) has been installed and launched in South Yaran Oilfield near the Iraqi border, an official with the Petroleum Engineering and Development Company (PEDEC) said.
2019-07-21 14:25
ICOFC begins project to boost production at Sa’adat Abad oil field

TEHRAN, Jul. 20 (MNA) – A project to maintain and enhance oil production at Sa’adat Abad oil field has begun with the aim of increasing the field’s crude oil output by 3,000 b/d.
2019-07-20 09:15
NIOC, domestic firms to boost coop. in production, maintenance projects

TEHRAN, Jul. 14 (MNA) – An official with the National Iranian Oil Company (NIOC) said the company is planning to sign 10 production, maintenance and enhancement contracts with domestic firms within the next two months.
2019-07-14 08:47
Persian Gulf conflict could send oil beyond $325

TEHRAN, Jul. 10 (MNA) – In a report on the effects of the tensions in the Persian Gulf on the world oil market, OIL PRICE mentioned that Persian Gulf conflict could send oil beyond $325.
2019-07-10 14:20
Oil minister:

Iran exempted from OPEC output cut deal again

TEHRAN, Jul. 02 (MNA) – Iranian Minister of Petroleum Bijan Zangeneh said the country was exempted from an agreement among OPEC members to continue capping the producer body’s crude oil output by 0.8 mbd.
2019-07-02 08:44
Zangeneh Meets OPEC President in Vienna

TEHRAN, Jul. 01 (MNA) – Iranian Minister of Petroleum Bijan Zangeneh met with the OPEC President Manuel Quevedo, who is also Venezuelan Oil Minister, in Vienna ahead of the organization’s 176th Meeting on Monday.
2019-07-01 13:32
Paper production volume at 5.5% growth in two months

TEHRAN, Jun. 22 (MNA) – Statistics of the Ministry of Industry, Mine and Trade showed that 164,900 tons of various types of paper were produced in the first two months of the current year (March 21 – May 21), showing a 5.5 percent increase as compared to the last year’s corresponding period.
2019-06-22 10:58
NIOC to offer 2mn barrels of heavy crude at IRENEX on Tue.

TEHRAN, Jun. 15 (MNA) – The National Iranian Oil Company (NIOC) will offer two million barrels of heavy crude oil at Iran Energy Exchange (IRENEX) on Tuesday (June 18) at the base price of $59.59 per barrel.
2019-06-15 16:53
NIOC to offer gas condensate at IRENEX with 5% discount

TEHRAN, Jun. 03 (MNA) – The National Iranian Oil Company (NIOC) is set to offer two million barrels of natural gas condensate at Iran Energy Exchange (IRENEX) today at discounted prices.
2019-06-03 13:18
Iran's iron ore concentrate production volume exceeds 4mn tons in one month

TEHRAN, Jun. 02 (MNA) – Statistics showed that 4,013,413 tons of iron ore concentrate were produced by nine mineral companies in the country in the first month of the current year (March 21-April 20), showing a one percent decline as compared to the last year’s corresponding period.
2019-06-02 10:29
Azar joint oilfield produces 20mn crude oil barrels

TEHRAN, May 19 (MNA) – Managing Director of Petroleum Engineering and Development Company (PEDEC) Touraj Dehghani on Sunday revealed the production of more than 20 million tons of crude oil from Azar joint oilfield since the beginning of production.
2019-05-19 21:32
Oil prices rise as Fujairah tanker attack increases supply concerns

TEHRAN, May 13 (MNA) – Oil futures rose on Monday on increasing concerns about supply disruptions in the crucial producing region of the Middle East after two oil tankers were attacked in the Sea of Oman.
2019-05-13 14:41