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  • Stock Market Expands Role in Funding Oil Sector
    Iran’s capital market is capable of financing half of the domestic oil projects, the CEO of Securities and Exchange Organizations said. The oil industry needs $30 billion in funding, Shapour...
  • CNG Use Expanding
    Domestic compressed natural gas consumption has reached 25 million cubic meters a day, indicating 31% rise compared to the 19 mcm/d before gasoline was rationed and pump prices increased in mid-...
  • Work in Progress at South Pars Gas Field
    Decks 13A and 13C of South Pars Gas Field Phase 13 were loaded at the Iran Marine Industrial Company, also known as SADRA, in Bushehr Province on Monday.  
  • Power Outages Possible if Gas Use Not Cut
    Close to 51.5 million cubic meters of natural gas was consumed per day in thermal power plants between March and December 2019, the Energy Ministry spokesman for power department said. “Daily...
  • OPEC+ Panel Calls for More Oil Cuts
    OPEC+ Panel Calls for More Oil Cuts
    An OPEC, non-OPEC technical panel has recommended extending a current oil supply cut pact until the end of 2020 and more output reductions due to the impact of the coronavirus on oil demand,...
  • $3b Invested in Khuzestan APG Treatment Plant
    A major plan for collecting and processing associated petroleum gas in the Bidboland Persian Gulf Gas Refinery, in Behbahan County, Khuzestan Province, will come on stream in spring. Over $3...
  • Iran: NIOC, Mapna Sign $1.3b Oilfield Contract
    Iranian National Oil Company and Mapna Group-- Iran's top engineering and energy firm -- signed a contract to develop Parsi and Paranj Oilfields in Khuzestan Province. The deal was signed in...
  • Nationwide Oil, Derivatives Supply at 100 Billion Liters
    The Iranian Oil Pipeline and Telecommunication Company has supplied close to 100 billion liters of crude and petroleum products nationwide since March 2019, managing director of the company said...
  • Oil Jumps 3% on Reports of Effective Coronavirus Drug
    Oil prices jumped by more than 3% on Wednesday on reports that scientists have developed an effective drug against the fast-spreading coronavirus that has weighed heavily on global economic...
  • IRENEX Offers Salaf Contracts to Finance Oil Project
    Standard parallel salaf contracts worth 2.5 trillion rials ($20 million) will be offered on the Iran Energy Exchange on Tuesday to finance Azar Oilfield projects.   
  • South Pars Output to Surpass 670 mcm/d by March
    The last offshore deck of Phase 14 (14D) was installed on Saturday to boost output from the South Pars Gas Field,  the development manager said. “As soon as hookup operations are over, the new...
  • OPEC+ Mulls Advancing Meeting Date
    A coronavirus-triggered 10% fall in crude oil prices over the last two weeks has shaken some OPEC countries --- including kingpin Saudi Arabia --- to the realization that waiting until March 5-6,...
  • Iraq Buying Iran Gas, But Not Paying
    Oil Minister Bijan Namdar Zanganeh says Iraq does not pay for Iranian natural gas imports. “They (Iraqis) do not pay us (Oil Ministry) any money for the gas they import,” Zanganeh was quoted as...
  • Gas Supplies in Iran at Record Highs
    Natural gas supply has increased by 75 million cubic meters a day since Nov 2019, dispatching director of the National Iranian Gas Company said. “NIGC is now delivering 850 mcm of gas per day...
  • Freezing Temperatures Push Up Gas Consumption
    Gas consumption in the household sector is expected to surpass 600 million cubic meters (per day) as cold spell is sweeping across many regions, head of the public relations office of the National...
  • OPEC Secretary General:  Oil Demand Has Upside Potential
    Worldwide oil demand forecasts may be lower than in previous years, but OPEC Secretary-General Mohammed Barkindo said Friday to CNBC that demand growth is still “robust” and could surprise to the...
  • Gas Delivery to Power Plants Cut by Half
    Natural gas delivery to thermal power plants has halved with the aim of sustaining and stabilizing natural gas supply to households in the winter season, director for technical support at the...
  • South Pars Output Up 7%
    To speed up gas production from South Pars Gas Field in the Persian Gulf, an offshore deck of phase 23 was linked to Iran Gas Trunkline (IGAT) on Tuesday, deputy operator of the phases said. “The...
  • Iran: 400km Gas Pipelines Laid in 8 Months
    Iranian Gas Engineering and Development Company, a subsidiary of National Iranian Gas Company, delivered  18 pressure stations and laid 400 kilometers of gas pipelines during the first 8 months of...
  • NIOC Looking for Trade Expansion via Iran Energy Exchange
    Following two rounds of sea delivery of oil products offered on the Iran Energy Exchange, the National Iranian Oil Company has said that it wants to expand such offers.  According to Amirhossein...
  • New Gas Boosting Pressure Stations for IGAT
    Eighteen gas boosting pressure stations in Fars, Lorestan, Semnan, Kurdestan and Bushehr have become operational since March 2019 to expand the Iran Gas Trunkline (IGAT), managing director of...
  • Liquid Fuel Export Comes to the Rescue
    Boosting output of petroleum products is a declared policy of the government and has generated $9 billion from exporting liquid fuels, managing director of National Iranian Gas Company said. This...
  • 1,450-Ton Rig Adds to South Pars Output
    To boost output from the South Pars Gas Field, the third offshore deck of Phase 14 started natural gas production on Friday, the development manager said. “The new platform (14B) has added 14...
  • Gas Grid in Sistan-Baluchestan Near Completion
    The National Iranian Gas Company is to invest $1.5 billion to complete the national gas grid in Sistan-Baluchestan Province, the managing director said. “Infrastructure is more than 76% complete...
  • NIOC Readjusts Oil Sale Terms via Iran Energy Exchange
    Almost a month after Oil Minister Bijan Namdar Zanganeh adjusted the guidelines for crude oil sale via IRENEX, the ministry again tweaked purchasing terms to attract buyers. Amirhossein Tebianian...

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