An Indian Oil Corp unit plans to invest $5.5 billion to gradually raise the capacity of its smallest refinery co-owned by Iran to 300,000 barrels per day (bpd), its chairman said, to help meet a surge in demand for refined products in the world’s fastest growing major economy. The Nagapattinam plant operated by IOC’s subsidiary…
The National Iranian South Oil Company has signed its first non-disclosure agreement (NDA) with a consortium of international companies, known as Pergas, for carrying out studies over two oilfields in Iran. The consortium comprises 11 European, Canadian and Asian firms as well as the Sharif University of Technology and has signed the NDA for holding…
Global energy giant British Petroleum (BP) has reportedly started a serious push to look into the prospects for making post-sanctions investments in Iran’s oil industry. Reuters said in a report that BP has formed a special task force to study Iran’s oil industry investment potentials in what could be a fresh sign of the growing…
By: Maryam Azish/ Iran’s petroleum industry is considered as the main generator for national economy following the implementation of Iran’s nuclear agreement with 5+1, known as the Joint Comprehensive Plan of Action (JCPOA). Energy plays a pivotal role to provide financial resources for Iranian public services and the industrial sector and the deal has paved…
An IOOC official said volume of Iran’s crude oil production capacity in the Persian Gulf has risen by 10 thousand barrels. Describing new plans to boost crude output in the Persian Gulf, Technical Director of Iranian Offshore Oil Company (IOOC) Manoochehr Davoodi said given the overhaul of a number of offshore wells in Ilam platform…
A consortium of Indian companies led by ONGC Videsh (OVL) is set to strike a deal with Iran by January for the development of Farzad-B gas field in the Persian Gulf. Iran to become the biggest oil supplier to India This comes at a time when Iran surpassed Saudi Arabia to become the biggest oil…
IOEC managing director has reported on Iran’s plans to take part in offshore oil projects in Europe and Africa. Managing director of the Iranian Offshore Engineering and Construction Company (IOEC) Abolghasem Rahmani touched upon partnership with foreign firms for exports of technical and engineering services adding “Iran’s unique and precious experiences in offshore oil projects…
National Iranian Tanker Company (NITC) announced Poland’s readiness for cooperation with the company and investment in different fields of marine transportation of oil and gas products. Managing Director of Polish Ciech Trading Company Tomasz Grzela announced his company’s readiness in meeting with Managing Director of NITC Cyrus Kian Erthi here on Thursday. He said that…
Iran has become the first crude exporter to France in September, for the first time since the country began to export oil there after the sanctions have been removed on the country. Iran exported over 200,000 bpd t France The reports suggest that Iran’s export of oil to France hit just over 200,000 barrels per…
Iran and Oman held a joint meeting with representatives of Shell, Total and Korea Gas Corporation (KOGAS) to discuss ways of cooperation and their partnership in Iranian project for export of gas to Oman. Directors of National Iranian Gas Export Company and senior directors of Oman Ministry of Petroleum met with the envoys of French…
