Archive | Oil & Gas

Assessing the Impact of Shifting Iran-KRG Relations

By Bijan Khajehpour, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran and the Kurdistan Regional Government (KRG) in Iraq have historically been on good terms. During the Saddam Hussein years, Iran was one of the main countries to host Kurdish leaders. In the post-Saddam […]

Trump Remarks “Unlikely to Impact Oil Market”

Iranian Minister of Petroleum Bijan Zangeneh said he believed it was unlikely that American President Donald Trump’s recent assertions on Iran’s nuclear program would impact the oil market. Reacting to the US president’s recent remarks on Iran’s nuclear deal and the Joint Comprehensive Plan of Action (JCPOA), Mr. Zangeneh said: “I see it unlikely that […]

German Firm Starts Construction of Solar Plant

By John Lee. IRNA reports that a German-Iranian company has started construction of first phase of a new 100 MW solar power plant in Meybod. Pasargad Solar Projects Ltd is developing the project in collaboration with Kronos Solar Projects GmbH and Parsia Business Development Solutions. (Source: IRNA)

Iran 3rd in World for Exploration Capacity

Iran is ranked as the third country in the world, after Russia and Iraq, for enjoying exploration capacity, according to the United States Geological Survey (USGS). Addressing an upstream forum at the 3rd Iranian Petroleum and Energy Club Congress and Exhibition in Tehran, Director of Exploration at the National Iranian Oil Company (NIOC) Seyed Saleh […]

EOR Vital to Iran Oil Industry

A senior official at Italy’s ENI says enhancing production from oilfields by even one percent would be a great advancement for Iran. Addressing an upstream forum at the 3rd Iranian Petroleum and Energy Club Congress and Exhibition in Tehran, Alessandro Tiani, Vice President of Enhanced Recovery Technologies and Advanced Reservoir Modeling at Eni, said raising […]

Iran Plans for Giant Leap in Oil Industry

Iran says it is gearing up efforts including study of its oil reserves to ramp up the country’s crude oil production, a senior Iranian oil official says. Addressing a conference here in Tehran, Gholamreza Manouchehri, deputy for development and engineering at the National Iranian Oil Company (NIOC), said plans are under way to study all […]

Zangeneh Appoints New Deputy for Refining Affairs

Iranian Minister of Petroleum Bijan Zangeneh has appointing Alireza Sadiqabadi as his deputy in oil products refining and distribution affairs. Holder of the post will also serve as managing director of the National Iranian Oil Products Distribution and Refining Company. Sadiqabadi, 37, replaced Abbas Kazemi who held the post for 4 years. Previously, Sadiqabadi was […]

Azadegan Oilfield Tender Delayed Again

By John Lee. The managing director of the National Iranian Oil Company (NIOC) has said that a tender to develop the Azadegan oilfield will not take place this year. Ali Kardor told ISNA news agency that oil companies are still assessing the technical surveys relating to the field, which is shared with Iraq. (Source: Reuters)

Iran, Armenia Discuss Expansion of Energy Cooperation

Iranian Oil Minister Bijan Zangeneh and Armenian Prime Minister Karen Karapetyan held a meeting in Tehran during which both sides called for enhanced cooperation between the two countries in the energy sector. During the meeting on Tuesday, Zangeneh and Karapetyan expressed satisfaction with the current level of bilateral cooperation in the energy sector and stressed […]

NISOC to Decide Fate of 2 Oilfields by March 2018

The managing director of National Iranian South Oil Company (NISOC) said the company is planning to develop 4 oilfields in Iran, adding the fate of two of the fields will be determined by the end of the current calendar year to March 20 2018. Bijan Alipour said NISOC is considering development of Karanj, Parsi, Rag […]

IOOC signs €800m Deal with Domestic Firm

The Iranian Offshore Oil Company (IOOC) has signed a deal worth 800 million Euros with an Iranian company to complete a number of IOOC projects. The deal, signed on Sunday evening, concerns completion of the natural gas liquids (NGL) project at Khark Island, another project aimed at sweetening natural gas and separation of associated gases […]

NIDC Drills 43-km of Directional Wells

By John Lee. The National Iranian Drilling Company (NIDC) carried out 43,498 meters of directional and horizontal drilling, in 55 holes, in Iran’s during the first half of the current Iranian fiscal year (started March 20, 2017). The head of the Special Operations Bureau at the NIDC, Mehran Alipour, told Trend that this is up 16 […]

Iran, Ireland Can Team up in Energy Sector: Speaker

Iranian Parliament Speaker Ali Larijani said Tehran and Dublin can cooperate in energy sector. Addressing a press conference following a meeting with visiting Chairman of the Senate of the Republic of Ireland, Denis O’Donovan, in Tehran on Tuesday, Mr. Larijani said that attracting foreign investments to finance projects on renewables and clean energies is a […]

Lukoil, NIOC sign MoUs on Caspian Sea Oil Project

The National Iranian Oil Company (NIOC) and Russian energy giant, Lukoil, have signed two MoUs for carrying out geological studies on oil projects in the Caspian Sea. The documents were signed in Moscow in a ceremony held in the presence of Iranian Minister of Petroleum Bijan Zangeneh and Lukoil Managing Director Vagit Alekperov in Moscow […]

Iran Eyes Petchem Deal with Total in a Month

Iran is about to sign a petrochemical deal with French energy major Total by November, a petrochemical official said. Director of investment at the National Petrochemical Company (NPC), Hossein Alimorad, said the Persian Gulf Petrochemical Industries Company (PGPIC) is about to sign a contract with Total to carry out economic studies on a petrochemical project […]

Iran Replaces Iraq as Biggest Crude Oil Exporter to Turkey

By John Lee. Turkey’s imports of crude oil from Iran have increased 142 percent in the first seven months of 2017, from 3 million tons to 7.4 million tons, making it the country’s biggest supplier of crude. According to the report from Daily Sabah, Iraq‘s crude oil exports to Turkey decreased 20.5 percent from 5.4 […]

Oil Minister has Big Plans for likely Last Term

By Bijan Khajehpour, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Bijan Namdar Zanganeh, the most experienced minister in the Islamic Republic of Iran, has yet again been entrusted with one of the most challenging portfolios in the Hassan Rouhani administration: the Ministry of Petroleum […]

US “Unable to Stop Irans Oil Exports”

If the US reimposes sanctions on Iran’s oil sector without the support of Europe, China and Russia, it will see grudging and uneven compliance by international energy companies and will not be able to stop crude flows that returned to the market in 2015, according to sanctions expert Elizabeth Rosenberg, Platts reported. “Grudging compliance does […]

Iran Bans Oil Products Shipment to Iraqi Kurdistan

Iran’s Ministry of Roads and Urban Development warned companies against shipment of oil products to and from the Iraqi Kurdistan “until further notice”. The decision is in line with Tehran’s series of measures in response to a referendum held in the semi-autonomous region on possible secession from Iraq which has drawn international criticism. “Given the […]

KEPCO, SOCAR discuss Caspian Oil Cooperation

Directors of Iran’s Khazar Exploration and Production Company (KEPCO) and the State Oil Company of the Azerbaijan Republic (SOCAR) met to discuss oil cooperation in the Caspian Sea region. Mohsen Delaviz, KEPCO managing director, and SOCAR’s Rovnag Ibrahim Abdullayev met in Baku to discuss cooperation in energy projects in the region. During the meeting, Delaviz […]