Iran Oil and Gas News

Raising the quality and output of oil refineries and building new refineries are on the agenda of the Oil Ministry to help increase Iran's oil refining capacity by 1.5 times in five years, the…

The National Iranian Oil Company needs investment worth $10 billion to refurbish the petroleum industry’s dilapidated equipment, an energy analyst said. “It will be next to impossible to raise…

Strengthening Iran's position in OPEC and retaking its share in the global oil market is among the Oil Ministry’s priorities, new oil minister, Javad Owji, said on Thursday, the first day of his…

President Ebrahim Raeisi said Iran is not concerned about finding customers for its oil and it has different options to continue the export of crude and oil derivatives.

The National Iranian Oil Company’s crude production has experienced a 37% increase in the first five months of the current fiscal year (March 21-Aug. 20) compared with the corresponding period…

Iran is ready to return to the international oil market at the highest level when a political agreement is reached between Iran and the world powers, and the unfair US sanctions on the country…

The construction and installation of six hydrocarbon storage tanks at the Persian Gulf Bidboland Gas Refinery in the southern Khuzestan Province is expected to become complete by fall. 

The National Iranian Oil Company is ready to export crude oil from its new terminal at Jask off the Sea of Oman, the head of NIOC said.

Iran Energy Exchange is to launch futures contracts for  petroleum products in near future, the IRENEX chief said.  “The Securities and Exchange Organization approved the guidelines…

The next oil minister should help boost exports and restore Iran’s lost market share, which has been damaged by US sanctions, Oil Minister Bijan Namdar Zanganeh said after the 181st Meeting of…

Seismic surveys carried out by Khazar Exploration and Production Company, a subsidiary of the National Iranian Oil Company, have shown the likely presence of a massive hydrocarbon formation in…

An oil and gas tech park has been launched in Tehran with the support of the Vice Presidential Office for Science and Technology to expedite the key sector’s development. The park was…

The first shipment of casing pipes required for the development of Forouzan Oilfield is being transported to the field in the Persian Gulf, managing director of Petropars Group, which is in…

Natural gas consumption has experienced a 51% growth in the last eight years, the head of National Iranian Gas Company, a subsidiary of the National Iranian Oil Company, said. “Gas consumption…

The National Iranian Oil Company paid $35 billion in natural gas subsidies in 2020, up 35% compared to 2018. Oil Minister Bijan Namdar Zanganeh made the statement in a parliamentary hearing on…

Iran will have no difficulty finding customers for its oil. Oil Minister Bijan Namdar Zanganeh made the statement on Monday in Tehran in a ceremony to sign an agreement with five domestic…

The National Iranian Oil Company signed an agreement with the domestic oil company Petropars to develop the Farzad B Gas Field in the Persian Gulf that is shared with Saudi Arabia. The $1.8…

A project to drill oil in the Moghan Plain, Ardabil Province, will start by July, the project manager said. “An onshore drilling rig owned by the National Iranian Drilling Company is on the way…

The Oil Ministry will invest $80 million in startups and knowledge-based firms, the oil minister said.

The state-run National Iranian Gas Company injected close to 262 billion cubic meters of gas into the Iran Gas Trunkline (IGAT) in the last fiscal year that ended on March 20, up 6% or 16 bcm…

At least 3% of petroleum revenues should be earmarked for expanding infrastructure in oil-producing provinces namely Khuzestan and Bushehr, but in practice much less has been allocated to these…

An estimated $50 billion is needed to develop and maintain gas fields across Iran over the next 20 years, managing director of Pars Oil and Gas Company, a subsidiary of the National Iranian Oil…

Iran set the highest record of oil products export during the past three years when the country was under tough sanctions imposed by the former US administration, the Oil Minister said at the…

The National Iranian Oil Company aims to produce 4.5 million barrels a day of oil and gas condensate in the next calendar year starting on March 21, the oil minister told lawmakers on Saturday…

Return of normalcy to Iran’s oil export after US president-elect Joe Biden takes office in January and eases the economic siege is way off, a deputy head of the Iran Chamber of Commerce,…