• Iran's 2019-20 Budget Less Reliant on Oil
    As per the 2019-20 fiscal budget bill, a barrel of crude is calculated at $54, Oil Minister Bijan Namdar Zanganeh told the ministry’s website Shana on Wednesday. “The government is doing its best...
  • Iran's NIGC Says Paying Its Full Share to Help Renovate Classrooms
    National Iranian Gas Company has met all its financial commitments to help the Education Ministry renovate schools in the deprived regions, the company's financial manager said. "NIGC paid $96...
  • Oil Prices Plunge by 6%
    Oil prices plunged more than 6% to the lowest level in more than a year on Monday, pulling back sharply late in the session as fears of an economic slowdown rattled the market.
  • Iran Consumes More Gas Than 28-Nation EU
    With a population of 80 million Iran’s daily gas consumption at 700 million cubic meters exceeds that of the 28-nation European Union, which consumes a total of 500 mcm per day, National Iranian...
  • OPEC+ Ready for Extra Meeting
    OPEC and allied oil producers are ready to hold an extraordinary meeting and will do what is needed if the current cut in oil output by 1.2 million barrels per day does not balance the market next...
  • Iran Offering Long-Term Crude Oil Sales on Stock Market - Exclusive
    After two successful offerings of crude oil on Iran Energy Exchange (IRENEX), officials have now rejiged the trading terms based on the needs of stakeholders.  According to Ali Hosseini, managing...
  • No Barrier to South Pars Funding
    There is no funding constraint to developing phases 13 and 22-24 in South Pars Gas Field in the Persian Gulf, managing director of Pars Oil and Gas Company said.  "The Majlis has authorized the...
  • Iran Considers Developing New Gas Field in Northeast
    Development of Tous gas field in northeastern Khorasan Razavi Province will help lift the regional economy and help stabilize energy supply to the northern and eastern areas, said Ramin Hatami,...
  • Work in Progress at Iran's South Azadegan Oilfield
    Raising production from the South Azadegan Oilfield in Khuzestan Province with the help of skid-mounted processing units and mobile oil treaters is a priority of the Petroleum Engineering and...
  • Saudi Crude Production Will Fall to 10.2 mbpd
    OPEC and its allies have formalized their production quotas under their new supply deal, with Saudi Arabia, the world's largest crude exporter, committing to a 322,000 bpd cut from its October...
  • OPEC to Publish Production Cut Quotas
    Contrary to initial reports that OPEC will not make public the country quotas in the new production cut deal, the organization now plans to publish a table of each OPEC and non-OPEC individual...
  • NIDC Reports Stellar Performance Over 4 Decades
    The National Iranian Drilling Company, a subsidiary of National Iranian Oil Company, undertakes most drilling operations across the country and drilled 4,489 onshore and offshore oil and gas wells...
  • Iran Announces Oil, Gas Discoveries
    Head of exploration department of the National Iranian Oil Company said Monday cooperation with international companies on studying new oil and gas fields is underway and 13 fields were discovered...
  • Iranian Private Firms to Construct 6 Offshore Vessels for IOOC 
    Iranian Offshore Oil Company, a subsidiary of the National Iranian Oil Company, has signed contracts with three private companies to build six offshore vessels.  "The ships, designed to serve...
  • New Oil, Gas Ventures Accelerating Globally
    The number of new oil and gas projects will rise five-fold next year from a 2015 trough but overall spending is still unlikely to be enough to meet future demand, consultancy Wood Mackenzie said in...
  • OPEC Unplanned Supply Losses Could Double Cutback
    OPEC may be about to succeed by accident, again. 
  • Japan Will Resume Iran Crude Purchases in Jan.
    Japanese refiners will start buying Iranian crude oil in January, but will only continue buying until March to make sure they don’t get on the bad side of Washington in case the 180-day sanction...
  • Oman will cut oil output by 2% from January for an initial period of six months, according to a letter sent to customers of Omani oil by the country’s oil and gas ministry. 
  • OPEC, Non-OPEC Will Sign Coop. Agreement
    A general cooperation agreement between OPEC and non-OPEC countries will be signed in three months in Saudi Arabia, the UAE energy minister said Tuesday.
  • Iran Cuts Asia-Bound Crude OSPs
    State-owned National Iranian Oil Company has cut the official selling price differentials for all its four crude grades loading in January from Kharg Island and bound for Asia, a company source...
  • Iran: Local Firms Will Develop Five Oilfields in Southern Regions
    Results of tenders for developing five oilfields in the south and southwest regions have been announced and five companies whose bids have been accepted will sign a contract with the National...
  • Iran's South Pars Gas Field Phases 22-24 Production Up
    The third gas sweetening train of the onshore refinery of South Pars Gas Field's phases 22-24 in the Persian Gulf has been launched, the operator of the phases said. “It has added 8 million cubic...
  • Distribution of liquefied natural gas in Sistan-Baluchestan Province has risen by 15% over the last eight months compared to last year's corresponding period, says the managing director of the...
  • OPEC Pullback to Help US Shale Producers
    US shale producers cheered OPEC’s decision to trim output, a move that sent crude prices higher on Friday, closing at levels that oil executives said would keep their profits flowing. 
  • Iran Exempt from OPEC 1.2m bpd Output Cut
    OPEC concluded its 175th meeting with an accord to remove 1.2 million barrels a day of crude from the market, with non-OPEC allies including Russia taking a 400,000 barrel-a-day share.  Iran is...

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