President Hassan Rouhani launched the first phase production at three fields in the oil-rich Khuzestan Province, bringing its total crude output closer to pre-sanctions levels. “Oil production west of Karun must reach one million barrels per day,” Rouhani said on Sunday, referring to the North Azadegan, Yadavaran and North Yaran fields. “This is a realistic…
Iran’s petrochemical industry was privatized more than a decade ago. Today, the government is only paving the ground for the development of petrochemical sector. During years of international sanctions on Iran, the government was of great help to the private sector in its transactions. The signature of a historic nuclear deal between Iran and six…
Minister of Petroleum Bijan Zanganeh says Iran’s crude exports reached 2.44 million barrels per day as of October. Addressing a televised debate, Zanganeh said Iran’s oil production hit almost four million barrels per day in October. He dismissed the “sheer lie” report that he had met Egyptian counterpart Tarek El Molla and said, “I have…
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…
Iran signed a deal with France‘s Total on Tuesday to develop a major offshore gas field — its first big contract with a Western energy firm since sanctions were lifted in January. [Photo Report] Total will lead a consortium, which will also include China National Petroleum Corporation (CNPC) and Iran’s Petropars, to develop Phase 11…
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…
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…
Deputy oil minister, while pointing to record high exports of 25 million liters of gas oil per day, said Europe has also begun importing the Iranian petroleum product. On the latest status of oil products exports, Managing Director of National Iranian Oil Refining and Distribution Company (NIORDC) Abbas Kazemi said “for the first time in…
National Iranian Oil Company (NIOC) and Polish state owned oil and gas company, PGNiG (Polskie Górnictwo Naftowe i Gazownictwo), signed a memorandum of understanding (MOU) on Saturday, based on which the polish company will conduct primary studies on Iran’s Sumar oil field in the Iranian western province of Kermanshah, Shana reported. The MOU was signed…
Armenia has moved one step closer to an ambitious plan to buy natural gas from Iran and sell it to Georgia. In a statement, Armenia’s Ministry of Energy, Infrastructure and Natural Resources said a memorandum of understanding (MoU) was signed recently to increase gas imports from Iran. The statement said that the MoU was signed…
