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 ....

  • Iran Energy Exchange to Host Next Round of Crude Oil Sale on Sunday
    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...
  • Doubt Cast on Relevance of OPEC, Non-OPEC Teamwork
    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 Gov’t Tells State-Owned Giants to Halt Iran Oil Purchase
    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...
  • Iran Oil Co. Chief Calls for Buying Stake in Foreign Refineries
    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. "Buying...
  • US Oil Sanctions to Harm Int'l Economy
    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 Petroleum...
  • Oil & Gas Sector Most Conducive for Business
    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...
  • ICOFC to Develop  Eight Gas Fields
    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. “South Zagros Oil and Gas Production...
  • Abadan  Refinery  Second Phase  on Track
    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. “The development phase, which...
  • Oil Remains Biggest Contributor to Iran’s Economic Growth
    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 of...
  • Private Sector to Develop 40 APG Projects in Khuzestan
    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 petrochemical...
  •  NISOC Completes  120 Ventures
    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 the...
  • Big Oil Discounts Not  in National Interest
    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...
  • US Cannot Offset Iran Crude Cut
    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 deputy...
  • Caspian Oil Swap More Viable  Than Tapping Into Deposits
    Focusing on energy swap operations in the Caspian Sea is much more cost-effective than extracting oil and gas from its deepwater hydrocarbon deposits. According to ISNA, although the National...
  • Oil Prices Fall as US Storm Threat Eases
    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 $...
  • NIDC has 73 drilling rigs, of which 70 are onshore machinery.
    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. Karam Ali Naderi,...
  • Oil Ministry Announces New Import Restrictions
    Iran’s Oil Ministry has banned the import of 84 oil equipment manufactured to support domestic parts makers, a ministry official said. Parviz Sangin added that the equipment, including wellhead...
  • Large Oil Vessel Anchors in Chabahar
    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...
  • Domestic Refineries Building Diesel Hydrotreating Units
    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 refinery’s...
  • NIOC's OSP Discount Follows Global Norms
    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 source...
  • Iran has achieved self-sufficiency in the production of solar gas turbines for oil delivery via pipeline.
    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 refineries...
  • NDFI Allocates $2.2b to Refinery
    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 nearly...
  • Russia Not Betraying Iran's Oil Market Trust
    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 Ministry's...
  • MOGPC Boosts Oil Capacity
    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). “With the production of over...
  • NISOC Renovates Three Oil  Pumping Stations in Khuzestan
    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 director...

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