Iran Oil and Gas News

A sectoral review of the Central Bank of Iran's latest report on Iran's economic growth shows the oil sector had the biggest contribution to the gross domestic product during the first quarter…

The National Iranian Oil Company is set to assign the private sector with some 40 projects on curbing the flaring of associated petroleum gases from southern oilfields to be used in…

The National Iranian South Oil Company, a subsidiary of National Iranian Oil Company, has made 120 industrial and civil construction projects operational in the past 12 months, an official at…

Although President Hassan Rouhani has granted permission to Oil Minister Bijan Namdar Zanganeh to sell oil with a discount, such a strategy cannot serve Iran's national interest, the country's…

The US oil output cannot replace Iranian crude in the international markets following sanctions imposed on Iran’s key sector that are due to take effect on Nov. 5, the Oil Ministry’s former…

Focusing on energy swap operations in the Caspian Sea is much more cost-effective than extracting oil and gas from its deepwater hydrocarbon deposits.

Oil prices fell on Wednesday as a tropical storm hitting the US Gulf Coast weakened and had a lower impact on production than initially expected. US West Texas Intermediate crude futures were at…

The National Iranian Drilling Company is scrutinizing proposals presented by the Italian giant oil company Eni as well as Russia's Lukoil to undertake drilling projects in Iraq.

Iran’s Oil Ministry has banned the import of 84 oil equipment manufactured to support domestic parts makers, a ministry official said.

A large crude carrier with a capacity of 50 million liters of diesel has docked at Chabahar’s Oil Terminal on the Sea of Oman, a senior official at the National Iranian Oil Production and…

A diesel hydrotreating unit, which is a part of the plan to raise production capacity and quality, is near completion at Bandar Abbas Oil Refinery in the southern Hormozgan Province, the…

National Iranian Oil Company's reduction of official selling price for Asian buyers is not higher than the global market norms and is on par with trends followed by all producers, a company…

The National Development Fund of Iran contributed $2.2 billion to help fund the Bid Boland Gas Refinery project in the city of Behbahan, Khuzestan Province, which the fund’s director says is…

Experts of the National Iranian Oil Company have restored a dilapidated gas-powered turbine in Ahvaz pumping station, Khuzestan Province, which has boosted the transfer of crude oil to…

Russia is committed to its domestic oil producers and it is a mistake to think that Moscow's current policy toward the oil market is a betrayal of Tehran's trust.

Reza Modir, the Oil…

Marun Oil and Gas Production Company said it has fully implemented its crude oil production plan in the first quarter of the current Iranian year (started March 21).

The National Iranian South Oil Company has renovated three of its oil pumping stations to boost the transfer of crude to refineries and export terminals, the state-owned company’s managing…

The construction of storage tanks at Goureh Oil Terminal in Bushehr Province is expected to become complete by the end of the current Iranian year (March 20, 2019). 

The US State Department's efforts to reduce Tehran's oil revenue to zero will bear no fruit, Majlis Research Center's director said.

"The country has its own traditional customers,…

The National Iranian Oil Company is expected to sign two contracts, worth $1.2 billion, with domestic companies to collect associated petroleum gases from oilfields in the eastern Karoun region…

Crude oil production from the giant South Azadegan field near the Iraqi border will exceed 170,000 barrels per day by the end of the current fiscal year (March 20, 2019), the director of the…

Employing 73 offshore and onshore rigs, the state-owned National Iranian Drilling Company has drilled over 69,377 meters of oil and gas wells nationwide between March 21 and July 23, NIDC's…

Iran said on Tuesday US President Donald Trump was mistaken to expect Saudi Arabia and other oil producers to compensate for supply losses caused by US sanctions on Iran, after OPEC production…

Oil Minister Bijan Namdar Zanganeh said the maximum use of Iranian manufacturers' capacity is a top priority, but the key sector "is not a place for trial and error".

Zanganeh made the…

Operations are underway to increase oil production at North Yaran Oilfield in the southern Khuzestan Province.