Archive | Oil & Gas

Iraq Rebuffs US on Cutting Off Energy Purchases from Iran

The US is pressuring Iraq to stop buying energy from its neighbor Iran, in what has become a major point of conflict between Washington and Baghdad. Iraqi leaders are pushing back on the demand, which is rooted in US President Donald Trump’s sanctions against Iran, according to a report by the New York Times on […]

Top Lawmakers Discuss Bolstering Iran-Japan Ties

Iranian Parliament Speaker Ali Larijani and President of Japan’s House of Councilors Chuichi Date explored avenues for the expansion of political and economic relations between the two countries. Larijani, who has travelled to Japan with a parliamentary delegation, met with Chuichi Date on Tuesday. In the gathering, the Iranian official hailed the age-old relations between […]

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Iran, Iraq to Use Euro, Dinar in Oil Trade

The governor of the Central Bank of Iran unveiled plans for using non-dollar accounts for oil and gas trade with Iraq. Abdolnaser Hemmati on Wednesday held a meeting with presidents of Iraqi banks, members of Iraq’s chamber of commerce and the Arab country’s business people during a trip to Baghdad. In the gathering, the top […]

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Russia to Construct Iran-India Gas Pipeline

Iranian Oil Minister Bijan Namdar Zanganeh said the country has accepted Russia’s proposal to construct a subsea pipeline for exporting natural gas from the Islamic Republic to India. Speaking to reporters at a press conference in Tehran on Tuesday, Zanganeh dismissed as “untrue” claims that he had not accepted the Indians’ proposal to construct the […]

New Petropars CEO Appointed

The CEO of the Naftiran Intertrade Company Sàrl (NICO) issued a decree appointing Hamid Reza Masoudi (pictured) as the new managing director of Petropars Ltd. (PPL). “Considering the valuable commitment, expertise and experiences you have displayed and regarding the approval of the general assembly of Petropars Company, you are appointed as the managing director and […]

Major Petro-Refinery to be Built in Jask

Plans are under way to build a large petrochemicals and refining complex in Jask Island by Bakhtar Petrochemical Holding. Ali Mohammad Bossaqzadeh, director of projects at the National Petrochemical Company (NPC), told NIPNA that the project would be built in order to meet the needs of the country and also to increase the exports of […]

114 Foreign Cos ready for Oil Projects in Iran

114 Foreign Companies Ready to Take Part in Iran’s Oil Projects: Official A member of the Energy Commission of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) said 114 foreign companies have announced their readiness to cooperate with the country in its oil projects. Speaking on the sidelines of a visit to the […]

9 Contracts Signed for Enhancing Oil Production

9 Contracts Signed with Local Firms for Maintaining, Enhancing Oil Production National Iranian Oil Company (NIOC) subsidiaries signed 9 contracts with local developers for maintaining and enhancing the production capacity of a number of Iranian oil and gas fields. The deals were signed on Tuesday in a ceremony that was attended by Iranian Minister of […]

New Oilfield Discovered in Southwest Iran

Iran has discovered a new oilfield near the southwestern city of Abadan, Oil Minister Bijan Namdar Zanganeh has said. Speaking to reporters on the sidelines of a cabinet session in Tehran, Zanganeh said workers drilling a well at ‘Minoo’ region near Abadan discovered crude oil on Tuesday morning. “It is the first time we discover […]

Ilam Refinery Suppling Quality Sulfur for Export

Ilam Refinery, which runs on sour gas, supplies valued items like quality sulfur, while injecting refined gas to the national distribution network for domestic consumption. According to the National Iranian Gas Company (NIGC), Shahryar Daripour, CEO of the refinery, said that over a billion cubic meters of gas was processed in the facility annually, adding […]

IFCC Indigenizes GHP System

Iran Fuel Conservation Company (IFCC) has domestically manufactured a geothermal heat pump (GHP) system. According to an official with the company, Aqil Barati, the system is highly energy efficient and plays a key role in reduction of greenhouse gases. Today, with the ever-increasing demand for air conditioning and, consequently, an increase in the need for […]

Kish Gas Field Development Awarded to POGC

The CEO of Pars Oil and Gas Company (POGC) has said his company was officially awarded development project of Kish Gas Field. According to POGC, Mohammad Meshkinfam said that the project was aimed at production of 85 mcm/d of natural gas from the field. The field, located 30 kilometers off the eastern coast of Lavan Island, […]

Development Fund to Get 20% of Iran’s Oil Money

Members the parliamentary select committee to study budget law signed off on a measure which determines the share of the National Development Fund of Iran (NDFI) from all oil export revenues at 20 percent in their latest open session on Sunday. According to ICANA, Mohammad Mahdi Mofatteh, spokesperson of the committee, said that during deliberation on […]

NPC Endorses Protectionism: Official

An official with the National Petrochemical Company (NPC) said the company was keen on facilitating supply of petrochemical items and equipment from domestic manufacturers. According to the company, Ghodratollah Farajpour, the director of production control at NPC, said plans were devised by NPC to maximize provision of items and equipment from domestic manufacturers in the […]

RIPI Joins Refinery Project in Qeshm

The Research Institute of Petroleum Industry (RIPI) has signed an agreement with a private company to join a refinery project in Qeshm Free Trade Zone. The deal is aimed at cooperating in investing, designing, constructing and commissioning an oil refinery in Qeshm Free Trade Zone. The agreement was signed on Saturday based on which RIPI […]

New NIOC CEO Appointed

Iranian Minister of Petroleum Bijan Zangeneh has appointed Masoud Karbasian as the new CEO of the National Iranian Oil Company (NIOC). Karbasian has replaced Ali Kardor as NIOC CEO who stepped down from his post because of retirement. (Source: PEDEC)

Iraq seeks Sanctions Waiver on Iran Energy Trade

Iraq is negotiating with the U.S. for exemptions from the impending snap-back of sanctions against Iran, arguing that it could not cut consumption of Iranian electricity and natural gas immediately without suffering serious economic harm and social instability. An Iraqi delegation was in Washington last week seeking a waiver for its cross-border trade, meeting with […]

Plant to Supply Power for 12 Petchem Units

Phase I of Damavand Petrochemical Utility Plant, officially launched this week, generates 648 megawatts of power to be fed to 12 petrochemical facilities operating in Phase II of Asaluyeh Petrochemical Hub, southern Iran. Addressing a press conference on Monday, Mohammad Reza Samiei, managing director of the plant, said the complex is being built to provide […]