National Iranian Oil Company (NIOC) News

Iran is targeting an investment of $250 billion in its upstream, midstream and downstream oil sectors, especially in liquefied natural gas (LNG) industry, over the next eight…

Iran’s floating gas condensate inventory has reduced substantially, owing to exports and higher domestic consumption over the last two years, the oil minister said.

Vast exploration operations are underway on 140,000 square kilometers to discover offshore and onshore hydrocarbon deposits, the managing director of the National Iranian Oil Company Said…

The National Iranian Oil Company paid $80 billion in fuel subsidies in 2022, approximately twice its oil revenues in the same year. According to data from the National Iranian Oil Refining and…

Sixteen exploration blocks have been unveiled by the managing director of the National Iranian Oil Company. “Taking into account the 10 exploration blocks that had earlier been offered, the…

Iran’s oil production has increased by 600,000 barrels per day in the past 20 months compared with the earlier corresponding figures and stands at 3.84 million barrels per day now, the managing…

In lines with policies to fight against air pollution, the Oil Ministry has allocated close to $20 billion not only to boost the quality of its refined products but also to collect associated…

Refining companies should be obliged to enhance the quality of their substandard products, namely gasoline, diesel and mazut, the head of the Board of Directors at the Iranian Oil, Gas and…

Iran’s natural gas output capacity will increase by at least 50% to reach 1.5 billion cubic meters per day by 2030, the managing director of the National Iranian Oil Company said.

Iran's annual gasoline demand has increased to a massive 1 billion liters, as 1 million-plus gas guzzlers are added to the already saturated domestic market per year, director of the National…

The National Iranian Oil Company will draw up contracts worth $500 million with knowledge-based firms to revive abandoned oil and gas wells, the oil minister said.

By using cutting-edge technologies of startups, it is possible to enhance oil and gas output capacity from hydrocarbon reserves in abandoned wells, the head of the Oil Industry Technology and…

The National Iranian Oil Company has received over 80% of its crude export revenues in the fiscal 2021-22 and the rest has been bartered for medicine and essential goods, the oil minister said…

The National Iranian Oil Company and the Oil Turbo Compressor Company (OTC) will soon sign a contract for manufacturing 14 turbo compressors, which will help save $2.2 billion annually, the head…

The National Iranian Oil Company is ready to conclude agreements worth $700 million with knowledge-based companies to enhance the production of 750 oil and gas wells across the country, managing…

The National Iranian Oil Company’s gasoline exports revenues decreased by 75% in 2021 compared to a year ago. The state-owned firm earned close to $3 billion in revenues by selling the fuel to…

The National Iranian Oil Company has substantially reduced its growing gas condensate stockpiles in recent months not only through exports but also due to higher local consumption, managing…

Due to the high increase in diesel consumption in thermal power plants over the last few weeks, the National Iranian Oil Company has limited selling diesel on the Iran Energy Exchange, the…

The National Iranian Oil Company plans to increase oil and gas production in the next decade, the managing director of NIOC said.

Iran will invest around $11 billion on its offshore gas fields to raise gas production by 240 million cubic meters per day, managing director of the National Iranian Oil Company said. “The…

The National Iranian Oil Company has prepared a long-term plan to attract foreign and domestic investments worth $145 billion over the next four years. Oil Minister Javad Owji made the…

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…

The National Iranian South Oil Company, the Iranian Offshore Oil Company and Iran Central Oil Fields Company -- all subsidiaries of the National Iranian Oil Company – signed contracts with…

The National Iranian South Oil Company and Iran Central Oil Fields Company -- both subsidiaries of the National Iranian Oil Company -- signed contracts with 14 domestic oil and gas companies on…

The National Iranian Oil Company plans to offer standard parallel salaf contracts for 520,000 barrels of heavy crude oil via Iran Energy Exchange.   As per a notice published on the codal.…