Iran Oil and Gas News

Iran Oil and Gas News

Trusted local source for getting the latest news about Iran oil and gas industries, including prices, export and output data, Iran petro contracts ....

  • Gas Production to Reach 330 bcm
    National Iranian Gas Company’s annual gas output will increase by at least 22% by 2021, head of the state-run NIGC said. “Total natural gas production amounted to 270 billion cubic meters in 2019...
  • Iran Energy Exchange Shows Enterprising Capacity
    Value of trade at the Iran Energy Exchange surged in the first four months of current fiscal year (March 20-July 21).  Data from IRENEX shows more than 295.82 trillion rials ($1.2 billion) worth...
  • OPEC+ to Pump More Crude
    From quiet skies over Europe to sparse traffic in America’s biggest cities, a recovery in global oil demand is faltering amid the resurgence in coronavirus.  
  • Gas Projects Cost $17b in 7 Years
    The National Iranian Gas Company says it has invested $17 billion in natural gas infrastructure over the past seven years. “The big part [of the money] went for completing the South Pars Gas Field...
  • $600m Spent on Gas Booster Stations in Fars and Bushehr
    The Iranian Central Oil Fields Company has spent $600 million to build pressure boosting stations in gas fields to help provide sustainable supplies to gas refineries, director of the company’s...
  • Oil Slick Cleanup Near Kharg Island
    A leak in a subsea oil pipeline from Abouzar Oilfield (in the Persian Gulf) to Kharg Island and Bandar Genaveh in Bushehr Province has been fixed and the oil spill is being cleaned up. The leakage...
  • End Game for Oil?
    The coronavirus crisis may have triggered the long-anticipated tipping point in oil demand and it is focusing minds in OPEC.  
  • Petropars Signs $1.3 Billion S. Azadegan Oilfield Agreement
    The National Iranian Oil Company concluded an agreement with the domestic company Petropars to develop the giant South Azadegan Oilfield in Khuzestan Province. The $1.3 billion contract aims to...
  • Gas Export Not a Priority
    The three priorities of the gas industry is people’s welfare, injection into oil wells to increase efficiency, and use in industries. Export of gas is down the line in fourth place, a spokesman of...
  • Gas Flaring Down 40%
    The National Iranian Oil Company has reported that gas flaring in oilfields declined 40% in 2019 compared to 2017. According to ISNA and based on NIOC data, daily gas flaring in 2017 was 50...
  • Global Oil Demand Set for Record Rise in 2021
    Global oil demand will soar by a record 7 million barrels per day in 2021 as the global economy recovers from the coronavirus pandemic but will remain below 2019 levels, OPEC said in its monthly...
  • OPEC+ Set to Roll Back Some Production Cuts
    OPEC+ production cuts have brought oil prices back from the brink, but the group will have to tread carefully to avoid triggering a new price collapse when it begins to reverse those reductions.  
  • POGIDC Tasked With Yaran Joint Oilfield Development Project
    National Iranian Oil Company has signed a contract with Persia Oil and Gas Industry Development Company to develop Yaran joint oilfield in Khuzestan Province.  
  • NIGC Reports Higher Capacity
    Natural gas refining capacity has surpassed 1 billion cubic meters a day, coordinating manager at the National Iranian Gas Company said Tuesday. “Close to 1.3 bcm can be processed daily in gas...
  • Gas Export to Turkey  naResumes After 94 Days
    Iran has resumed gas exports to Turkey after Botas, the country's state oil and gas company, said it fixed the ruptured gas pipeline after 94 day, the head of National Iranian Gas Company's...
  • OPEC Cuts Production to 1991 Levels to Revive Markets
    OPEC slashed oil production to the lowest level since the Persian Gulf War in 1991, as it escalated efforts to revive global markets just as a resurgence of the coronavirus is threatening demand...
  • Gas Condensate Will Substitute Natural Gas in Thermal Power Plants
    Studies are underway to redesign gas turbines in power plants so that gas condensate can be used as feedstock instead of natural gas, a deputy energy minister said. “Our engineers and...
  • ICA Rules Iran Pay $2b to Turkmengaz
    The International Court of Arbitration (ICA) announced its verdict over the Iran-Turkmenistan gas row. IRNA said based on information from the Oil Ministry and the National Iranian Gas Company,...
  • Middle East’s Largest Gas Refinery to Open in August in Khuzestan
    Persian Gulf Bid Boland Gas Refinery in Khuzestan Province will be operational in August, the managing director said. “The refinery will start operation with 20 million cubic meters of gas or 30%...
  • US Oil Gaining Appeal in Asia
    As the OPEC+ alliance sticks to its guns in trying to curb oil output to shore up prices, Asian buyers are increasingly looking to the US for a cheaper source of supply.  
  • Gas Network Expansion Continues in Baluchestan
    Expansion of the national gas network in Sistan-Baluchestan Province is on track despite difficulties created by coronavirus in the southern regions, head of the provincial gas company said. "...
  • Oil Demand Not Roaring Back Yet
    It was too good to be true. Last weekend’s OPEC+ meeting took a decision in record time to extend deep output cuts that had halted a dramatic slide in prices — and members even agreed to abide by...
  • NIGC Says Ready to Double Supplies to Power Plants
    The National Iranian Gas Company can double the volumes it delivers to thermal power plants and supply at least 310 million cubic meters of natural gas a day to power stations at the peak of...
  • OPEC+ Delivers 85% Compliance on Cuts in May
    OPEC and its allies slashed almost one-fifth of their crude oil production in May, the first month of their landmark supply accord, according to the latest S&P Global Platts survey of the group...
  • Iraq Will Be Committed to OPEC+
    Iraq wants OPEC+ to take into consideration the economic and living conditions of countries when assigning quotas in oil production cuts, the country's finance minister said, as OPEC's second-...

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