Iranian oil minister has announced that the country’s crude production will rise to 4.5 million barrels per day (bpd) in the current Iranian calendar year (began March 20). Speaking at the second oil and energy congress in Tehran, Oil Minister Bijan Zanganeh described priorities of the industry in the post-JCPOA era adding “crude production capacity…
India- Iran’s top customer after China — imported about 552,200 barrels per day (bpd) of oil from the Persian Gulf nation in September, more than double the same month a year ago following the end of sanctions on Tehran in January. India’s oil imports from Tehran in January-September grew 90.5 percent to an average 411,900…
The Organization of the Petroleum Exporting Countries (OPEC) says Iran’s oil production has reached a new record high of 3.665 million barrels per day (mb/d). OPEC in a monthly report said it had recorded Iran’s new oil production capacity for September. The country’s production in August stood at 3.634 mb/d, the Organization added in its…
Global energy giant Royal Dutch energy giant Shell has signed a memorandum of understanding (MoU) with the National Petrochemical Company of Iran (NPC) for cooperation in the petrochemical industry. The MoU was signed by NPC CEO Marziyeh Shahdaei and Hans Nijkamp, the head of the department for Iran affairs at Royal Dutch Shell. Nijkamp was…
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…
Iran and Germany have maintained close commercial ties for decades. However, with the imposition of anti-Iran sanctions, China and several other countries to overtook Germany in the Iranian market. The lifting of sanctions in January 2016 which followed last year’s nuclear deal between Tehran and the major world powers provided a much-needed fillip for the…
Germany and Iran have signed a range of business deals in what is expected to take economic relations between the two countries to a new level. The German Economy Ministry announced in a statement that several Mittelstand firms, the small-to-medium-sized companies that form the backbone of the economy, had signed the deals with their Iranian…
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…
Tehran and Amsterdam plan to promote trade ties based on a defined road map observed Iran’s ambassador to the Netherlands while highlighting the significance of relations between the two countries. Alireza Jahangiri, who was speaking at Erasmus University in Rotterdam, added that grounds are prepared for closer cooperation between the Islamic Republic and the Netherlands…
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…
