Oil Production

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.

Iran elected to head GECF Executive Board

TEHRAN, Oct. 23 (MNA) – Iran’s oil minister announced that the country has been elected chair of the Executive Board of the Gas Exporting Countries Forum (GECF).

Oil output hits 7-year high with development projects: min.

TEHRAN, Sep. 29 (MNA) – Iran’s Oil Minister Mohsen Paknejad has said that the country’s oil production volume hit a seven-year high record with the development of projects in the oilfields and round-the-clock efforts of staff of the oil industry.

South Pars gas production increases 5m cubic meters this year

TEHRAN, Jul. 28 (MNA) – Gas production at the South Pars Gas Field increases five million cubic meters per day as a result of putting into operation three wells.

Iran's oil production uninterrupted despite tensions: NIOC

TEHRAN, Jun. 24 (MNA) – Despite the recent days of heightened tensions following Israeli’s imposed war, Iran's daily oil output has continued without disruption and all oil installations remain operational, National Iranian Oil Company (NIOC) said.

NIOC:

Iran's crude oil storage capacity increases by 2m barrels

TEHRAN, May 17 (MNA) – Iran’s crude oil storage capacity has increased by 2 million barrels following the commissioning of two refurbished tanks at the Kharg oil terminal in the operational zone.

South Pars gas output volume to increase by 15 mcm per day

TEHRAN, May 10 (MNA) – The CEO of the South Pars Gas Complex highlighted its role in supplying 73% of the country’s gas and announced the early start of major refinery overhauls, targeting a daily production rise of 10 to 15 million cubic meters.

NIOC to launch 15 energy optimization projects

TEHRAN, Apr. 20 (MNA) – The National Iranian Oil Company (NIOC) has introduced 15 major energy optimization projects in the industrial, construction and transportation sectors.

Iran's oil output increases by 12,000 bpd: OPEC

TEHRAN, Apr. 14 (MNA) – The Organization of Petroleum Exporting Countries (OPEC) in its latest report has said that Iran's oil production volume has increased by 12,000 barrels per day (bpd ) in March, reaching 3.335 million barrels per day.

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.

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.

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.

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.

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.

VIDEO: China completes world's first FPSO vessel with carbon capture, storage capabilities

TEHRAN, Feb. 18 (MNA) – An innovative floating, production, storage, and offloading (FPSO) vessel equipped with a carbon capture and storage facility has been completed in Shanghai.

Iran increases daily oil output by 15 mn liters

TEHRAN, Dec. 21 (MNA) – A senior official from the National Iranian Oil Refining and Distribution Company (NIORDC) announces an increase of 15 million liters in the country's daily oil production over the four months of the new government's term.

Iran oil minister:

Iran increasing oil output regardless of US political future

TEHRAN, Dec. 08 (MNA) – Iran's Oil Minister says increasing the country's oil production capacity has no connection to potential restrictions or their increase, adding that boosting production capacity is a priority for the Ministry of Petroleum.

Iran's oil output up by 60,000 bpd: NIOC chief

TEHRAN, Nov. 21 (MNA) – The CEO of the National Iranian Oil Company (NIOC) has said that the country's daily oil production volume has increased by 60,000 barrels.

OPEC+ countries extend oil production cuts

TEHRAN, Nov. 04 (MNA) – OPEC+ countries have decided to extend voluntary oil production cuts of 2.2 mln barrels per day until the end of December, according to a statement published on the group’s site.

NPC chief:

Iran to produce 80 mln tons of petrochemicals by yearend

TEHRAN, Sep. 10 (MNA) – The chief executive of the Iranian National Petrochemical Company (NPC) said that over 80 million tons of petrochemical products will be produced by the end of this year 1403 in the Iranian calendar (to end March 20, 2025).

Oil minister:

Iran’s oil production increased 3 mn bpd during Raeisi admin.

TEHRAN, Jul. 24 (MNA) – Iranian Oil Minister Javad Owji announced that the country’s oil production has increased from 2.2 million barrels per day (bpd) to more than 3 million barrels per day (bpd) during the Raeisi administration.

Iran’s current oil output hits 3.6 million bpd: Minister

TEHRAN, Jul. 10 (MNA) – Iran’s minister of oil put the current production of oil in the country at 3.6 million barrels per day (bpd).

Iran's oil sector continues to grow in Q1: Minister

TEHRAN, Jul. 02 (MNA) – Iran's minister of oil said that the oil sector of the country witnessed a significant growth over the first three months of this year in the Iranian calendar (March 21 to June 22, 2024).

Venezuela about to join BRICS: Official

TEHRAN, Jun. 21 (MNA) – Venezuela is at the doorstep of joining the BRICS group of nations and ready to offer its fuel and mineral resources to future partners, the country’s Executive Vice President Delcy Rodriguez said.

Iran’s oil price, output surge in March 2024: OPEC

TEHRAN, Apr. 14 (MNA) – The Organization of Petroleum Exporting Countries (OPEC) in its latest monthly report has said that Iran’s oil production volume increased by 28,000 barrels per day (bpd) in March 2024.

For Q2;

OPEC+ nations extend voluntary oil output cuts by 2.2 mn bpd

TEHRAN, Apr. 01 (MNA) – Several countries participating in the OPEC+ agreement will continue voluntarily reducing oil production in Q2 by a total of almost 2.2 mln barrels per day.

Iran's oil production to increase by 400,000 bpd

TEHRAN, Mar. 17 (MNA) – Iranian Oil Minister Javad Owji says that the country's oil production will be increased by 400,000 barrels per day.

OPEC+ extends oil output cuts to 2024 2nd quarter

TEHRAN, Mar. 04 (MNA) – The Organization of the Petroleum Exporting Countries (OPEC), along with 10 other nations together known as OPEC Plus agreed on Sunday to extend output cuts of 2.2 million barrels per day into the second quarter of 2024.

IEA:

Iran’s oil revenues hit $34 bn in 9-month period in 2023

TEHRAN, Jan. 20 (MNA) – Iran’s oil revenues in the first nine months of last year (January to September 2023) reached $34 billion, accounting for 12% of OPEC member states’ total oil income.