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…
An official at NIOC said Iran has begun crude sales to British companies as the first one-million-barrel shipment was delivered to British Petroleum. Seyyed Mohsen Ghamsari touched upon resumption of oil exports to British firms in the post-JCPOA era saying “so far, two crude oil and gas condensate cargos have been sold to two companies…
Managing Director of National Iranian Oil Company Ali Kardor said on Monday that NIOC has been able to achieve the target of four million bpd output in the wake of lifting the sanctions. He made the remarks in his speech to a group of the Petroleum Ministry officials. Kardor said that Iran has been able…
Iran has signed a memorandum of cooperation with two Japanese firms to reduce fuel oil production at Bandar Abbas oil refinery. Reducing the share of fuel oil from the current 30 percent to less than 10 percent marks one of the key policies pursued in Iran’s crude refining industry in the post-JCPOA era. Accordingly, numerous…
Italy has voiced willingness to expand economic and industrial relations with Tehran. Italian Ambassador to Iran Mauro Conciatori said in a meeting with Hormuzgan Governor General Jassem Jedari in Bandar Abbas that Iranian president (Hassan Rouhani) and Italian prime minister (Matteo Renzi) met for the fourth time over the past year in New York last…
Deputy oil minister said Total S.A. Company has put forward a proposal to cooperate in development of Phase 11 of South Pars gas field. Ali Kardor made the remarks underlining that two more foreign firms have also voiced readiness to launch partnership in the gas project. Managing director of National Iranian Oil Company (NIOC) emphasized…
Official figures show Iran’s non-oil exports to Europe are increasing in what is interpreted as a sign of growing interest of European consumers in Iranian products. Figures released by Iran’s Customs Administration show that the value of the country’s non-oil exports to Europe stood at $643 million over a period of five months starting 21…
Iran’s August crude oil exports jumped 15 percent from July to more than two million barrels per day (mbd), according to a source with knowledge of its tanker loading schedule, closing in on Tehran’s pre-sanctions shipment levels of five years ago. The No. 3 OPEC producer has more than doubled its crude exports, excluding the…
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…
Iran has exported about 8 million barrels of crude oil from North Azadegan oilfield since the beginning of current Iranian calendar year (March 20), Shana quoted Keramat Behbahani, the operator of project for developing the oilfield, as saying on Tuesday. North Azadegan is one of the five oilfields, dubbed the West Karoun oilfields, Iran shares…
