Posts Tagged “iran oil”

Iranian oil industry needs $130 billion investment

Iranian oil industry needs $130 billion investment

Minister of Petroleum Bijan Zanganeh said on Tuesday that Iranian oil industry needs $130 billion investment to meet the Sixth Five-Year Economic Development Plan (2016-21) targets. Zanganeh told a televised interview, “We use different methods for financing and there is not the possibility for attraction of all the needed capital through contracts.” On the contract…

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Iran, Total-led consortium sign $4.8 billion energy deal +Photo

Iran, Total-led consortium sign $4.8 billion energy deal +Photo

Iran and an international consortium led by the French energy giant Total SA has signed the agreement in principle to develop phase 11 of the giant South Pars gas field. The 4.8 billion-dollar deal signed under the Islamic Republic’s new oil-contract framework is the first major agreement reached between Tehran and foreign energy companies following…

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South Korea’s oil imports from Iran up over 100%

South Korea’s oil imports from Iran up over 100%

South Korea’s imports of oil from Iran more than doubled in the first nine months of this year from a year earlier following the removal of international sanctions on the country in January, industry data showed on Sunday. According to the data, imports of Iranian crude oil and condensates reached 78 million barrels during January-September…

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Iran’s oil exports to EU significantly rises to 700,000 b/d

Iran’s oil exports to EU significantly rises to 700,000 b/d

A top official with National Iranian Oil Company (NIOC) Mohsen Qamsari said on Wednesday that Iran’s oil exports to Europe has risen to 700,000 b/d. Iranian oil exports to European countries had nearly stopped during sanctions. After the implementation of the Joint Comprehensive Plan of Action (JCPOA) in January, the European countries resumed oil imports…

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Asia is destination of 60% of Iran’s crude exports

Asia is destination of 60% of Iran’s crude exports

An NIOC official has announced that approximately 62 per cent of Iran’s crude oil exports are delivered to Asian states. Seyyed Mohsen Ghamsari, Executive Director for International Affairs at National Iranian Oil Company (NIOC), made the remarks adding “presently, the average volume of oil exports to Asian countries stands at more than 600 thousand barrels…

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Total: Oil giants is coming back to Iran

Total: Oil giants is coming back to Iran

President of Middle-East & North-Africa Total Exploration & Production, Stephane Michel, said on Saturday that oil giants are in competition to come back to Iranian market. The Persian daily, Iran, quotes Michel as saying that in the wake of lifting the sanctions and implementation of the Joint Plan of Action (JCPOA), Iran’s international relations have…

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Iran’s oil industry requires $100bn investment

Iran’s oil industry requires $100bn investment

Iran Oil minister has said contractor companies would only receive agreed amounts if they increase the recovery rate in Iranian oil fields. Bijan Namdar Zanganeh told the press on Tuesday morning that at least $100bn in investment were required to revive the industry to fresh conditions where Iran’s excavation companies would provide services to other…

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IRAN produce polypropylene

IRAN produce polypropylene

Deputy oil minister announced that Iran has achieved the technical knowledge to produce polypropylene as a strategic petrochemical product. Director of the National Petrochemical Company (NPC) Marzieh Shah-Daei pointed to opening and official operation of the first semi industrial polypropylene manufacturing unit in the country’s petrochemical industry saying “the new unit aims to produce an…

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IRAN’s Oil products export capacity hits 500K bpd

IRAN’s Oil products export capacity hits 500K bpd

Deputy oil minister announced that exports capacity of various Iranian petroleum products has climbed to 500 thousand barrels per day. Managing Director of National Iranian Oil Refining and Distribution Company (NIORDC) Abbas Kazemi described the latest status of implementing new gasoline production units inside the country saying “gasoline production increase project of Bandar Abbas Refinery…

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