NIGEC managing director said Iran is likely to hire existing pipelines to conduct gas exports to the European market. While construction and operation of LNG production projects in southern Iran remains as one major route for exports of gas to the European Union member states, pipelines still mark one possible scenario for gas exports to…
Iran’s Tasdid Offshore Development Company (TODC) signed the deal on Sunday which envisages the construction of the drilling rigs over a two-year period in the port city of Khorramshahr, the company’s Managing Director Ehsanollah Mousavi said, reported Press TV. The project will be financed jointly by Russia and Iran, and put the Islamic Republic among…
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…
An oil official has announced that Vitol S.A. of Switzerland is likely to purchase Russian crude to be swapped through Iran’s largest oil terminal in the Caspian Sea. Despite the seven-year hiatus in oil swaps among Caspian Sea littoral states through Iran’s route, the process has not been resumed yet though negotiations are still underway…
Iran says its trade surplus exceeded $3.4 billion over a period of four months starting March 21, 2016 in what is seen as the country’s best post-sanctions trade performance. Figures released by the Customs Administration of Iran show that the country’s non-oil exports over the period stood at $16.3 billion – a figure that was…
Fresh indications show a main barrier for trade between Iran and South Korea will be removed soon. South Korea announced on Thursday that it will start a euro-based settlement system for trade with Iran next week. The move follows the removal of sanctions against Iran in January and is expected to help the two countries…
A POGC official has reported on the signing of a contract with a French firm for conducting pressure drop studies in South Pars joint gas field. Director of Engineering and Construction at Pars Oil and Gas Company (POGC) Mohammad Meshkinfam described the plans to prevent pressure loss in South Pars phases saying “at the present…
