Iran Oil and Gas News

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 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…

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…

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…

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…

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.

Despite waivers the US government granted to eight countries after imposing sanctions on Iran’s oil exports, the country’s crude sales will fluctuate between 1.1and 1.3 million barrels per day…

OPEC oil supply has fallen in November from a two-year high due to US sanctions on Iran, a Reuters survey found, although most of the output gap left by Iran was plugged by Saudi Arabia and the…

Japanese firms will continue buying crude oil from Iran with the maximum capacity possible before the end of the 180-day period during which it is exempt from new US sanctions on Iranian oil…

Imports of Iranian crude oil by major buyers in Asia hit a five-year low in October, as China, Japan and South Korea sharply cut purchases ahead of US sanctions on Tehran that took effect in…

The share of oil in gross domestic product, budget and its contribution to export revenues is measured to determine a country's reliance on oil income, according to a report by Tehran Chamber of…

Competent companies can and must play their role in developing oil and gas projects, the head of the Society of Iranian Petroleum Industries Equipment Manufacturers said.

Crude oil production from the offshore Kharg Oilfields in the Persian Gulf increased by 2 million barrels in the first six months of the current fiscal (started in March) compared to the…

Taiwan's Iranian crude oil imports would be capped at 5.99 million barrels in 2018, down 40% from the 9.95 million barrels in 2017 due to the snapback of US sanctions.

Iran pumped around 3.29 million barrels per day in October, down from 3.45 million bpd in September,  OPEC data shows.

According to OPEC secondary sources, Iran's average crude…

Close to one million barrels of oil have been sold on Iran Energy Exchange so far and plans are underway to continue the offers in the future, the head of international affairs at the National…

The second offering of crude oil on Iran Energy Exchange saw booming business as traders purchased all the 700,000 barrels of Iranian light crude on offer. 

The National Iranian Oil Company says the next round offering light crude oil on the international ring of the Iran Energy Exchange will be held on Sunday (Nov. 11). A report on the company’s…

Iran Oil Minister Bijan Namdar Zanganeh says the Joint Ministerial Monitoring Committee (JMMC) and Joint Technical Committee (JTC) in charge of monitoring a deal between OPEC and other oil…

China’s government has told at least two of its state oil companies to avoid purchasing Iranian oil as the US prepares to impose sanctions on the Persian Gulf state, according to people with…

Talks are underway to buy shares in refineries of other countries to help the country secure its international oil market share, National Iranian Oil Company's managing director said.

Imposing sanctions against oil producing states like Iran will have an adverse impact on oil markets as well as the world's economy, the country's former governor at the Organization of…

The research arm of Iran’s Parliament has conducted a first-of-its-kind domestic investment security study, finding among other things that businesspeople active in the crude oil and natural gas…

The second development phase of Abadan Oil Refinery in Khuzestan Province is making progress as per the envisaged plans, the refinery’s managing director said.

Iranian Central Oil Fields Company plans to develop eight gas fields so as to prevent a reduction in their extraction rate, ICOFC’s managing director said.