Archive | Oil & Gas

Dutch Firm “in Talks” regarding Azadegan Field

The managing director of a major Dutch manufacturer of flexible composite pipes said it is in final talks with Iran to develop a “flowline project” in the country’s South Azadegan oil field. “We are currently in the final negotiations for a project that should be a significant project. At this time, it is better not […]

NISOC, Pergas Sign Deal to Developing Iran Oilfield

The National Iranian South Oil Company (NISOC) and Pergas Consortium have signed a heads of agreement on Wednesday for developing Iran’s Karanj Oilfield under the newly-devised model of oil contracts. The document was signed in Tehran in a ceremony that was held with Iranian Minister of Petroleum Bijan Zangeneh, NISOC CEO Bijan Alipour, British Ambassador […]

Total to Unwind Iran Operations if no Waiver

On 4 July 2017, Total, together with the other partner Petrochina, executed the contract related to the South Pars 11 (SP11) project, in full compliance with UN resolutions and US, EU and French legislation applicable at the time. SP11 is a gas development project dedicated to the supply of domestic gas to the domestic Iranian […]

Iran Energy Minister in Germany for Talks

Iranian Energy Minister Reza Ardekanian travelled to Germany on Monday to weigh plans for environmental and energy cooperation between the two countries. Ardekanian is planned to hold talks with Germany’s Federal Minister for the Environment, Nature Conservation and Nuclear Safety Svenja Schulze and Federal Minister of Germany for Economic Affairs and Energy Peter Altmaier during […]

Iranian Oil Exports set to continue under US Sanctions

By David Ramin Jalilvand for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Assessing the short- and long-term consequences of the US withdrawal from the Joint Comprehensive Plan of Action (JCPOA) for Iranian energy is crucial. In the short term, the impact will be rather modest in […]

Polish Firm Signs Iran Cooperation Agreement

The National Iranian Drilling Company (NIDC) signed an outline agreement with Poland’s Exalo Drilling SA to cooperate in drilling operations. Sepehr Sepehri, NIDC CEO, signed the memorandum with Exalo and Mishan Company, a knowledge-based Iranian company, on the sidelines of the 23rd Iran Oil and Gas Show in Tehran on Tuesday, Shana reported. Mishan is […]

Iran, Spain Sign MoU on Oil, Gas Cooperation

A memorandum of understanding (MoU) was inked in Tehran on the promotion of cooperation between Iran and Spain in the oil and gas industries. General Director for Europe, America and Caspian Sea Neighboring Countries in Iran’s Oil Ministry Hossein Esmaeili Shahmirzadi and Deputy Director General of Commerce Policies for Africa and Middle East at the […]

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Petroleum Exports break Post-JCPOA Record in April

Iran’s crude oil exports hit 2,617 million bpd in April, a new record since implementation of the Joint Comprehensive Plan of Action (JCPOA) in January 2016. The record was gained amid US President Donald Trump’s threats to pull out of the deal that was struck between Tehran and the P5+1 group of countries to curb […]

CNG Project up for Grabs

An Iranian CNG official says there are many investment opportunities in compressed natural gas (CNG) projects in Iran. Addressing an energy conference, the Director of CNG Projects at the National Iranian Oil Products Distribution Company (NIOPDC) Hamid Ghasemi said Iran currently consumes 20 million cubic meters of CNG per day, adding the best investment opportunities […]

NITC to start Marine Ops at Sunken Tanker

The National Iranian Tanker Company (NITC) CEO says the company has planned to start a series of search operations at the site of Sanchi tanker’s sinking. The Sanchi oil tanker collision occurred on 6 January 2018 when the Panamanian-flagged, Iranian-owned tanker Sanchi, with a full natural-gas condensate cargo of 136,000 tonnes (960,000 barrels), sailing from […]

RIPI signs LNG Deal with Fortune

The Research Institute of Petroleum Industry (RIPI) has signed a memorandum of understanding (MoU) for Chinese company Fortune and a domestic investor for the design and construction of a 500,000-ton LNG plant. According to the institute, the document was signed on Tuesday, April 25, 2018, between RIPI’s director of technology and international relations and the […]

Iran, China ink Major Petchem Deal

Iran’s National Petrochemical Company (NPC) and the China Petroleum and Chemical Industry Federation (CPCIF) signed a memorandum of understanding (MoU) for construction of a petrochemical park in Iran by Chinese companies. NPC CEO Reza Norouzzadeh and Chairman of CPCIF Li Shousheng signed the document in Tehran on Monday evening (April 23, 2018), NIPNA reported. Speaking […]

€245m for Gasline in Southeastern Iran

The Iranian Gas Engineering and Development Company (IGEDC) has planned to invest €245 million on construction of a gas pipeline from the southeastern city of Iranshahr to Chabahar. IGEDC CEO Hassan Montazer Torbati said the 290-km pipeline will be commissioned by March 2020, end of the next Iranian calendar year. He said 56-inch, 42-inch, 20-inch […]

ORG submits studies on Caspian Fields to NIOC

Norway’s ORG has submitted the result of its studies on Sardar Jangal and the three exploration blocs of 24, 26 and 26 of the Caspian Sea to the National Iranian Oil Company (NIOC). The Norwegian company offered the studies on the fields to NIOC in a meeting held with NIOC Deputy CEO for Engineering and […]

Iran completes first Oil-for-Goods supply to Russia

Iran has completed its first oil-for-goods supply to Russia. Under the agreement, Russia would buy 100,000 barrels a day of Iranian oil in exchange for Russian equipment and goods. Russia’s Energy Minister Alexander Novak says the first Iranian oil supply to Russia under the oil-for-assets program has been completed and the two sides could extend […]

IGTC Gas Transmission Capacity to hit 400 bcm by 2025

The CEO of the Iranian Gas Transmission Company (IGTC) says the company’s gas transmission capacity will cross 400 billion cubic meters per year by 2025. Saeid Tavakoli said the company delivered 226 bcm of natural gas over the first 11 months of the previous Iranian calendar year which ended on March 20. He said the […]

NIGC to launch 1,000 KM Gas Pipeline by March 2019

The National Iranian Gas Company (NIGC) has planned to launch 1,000 kilometers of gas distribution pipeline by the end of the current Iranian calendar year which began on March 21. An official with the Gas Engineering and Development Company said on Tuesday that his company, a subsidiary of the NIGC, built 1,000 kilometers of gas […]

Iran, Spain to hold Joint Oil-Gas Workshop

Iranian and Spanish companies have planned to hold the first joint oil and gas joint workshop between the two countries parallel with the 23rd Iran Oil Show in Tehran in May. The workshop will be held on May 7, the second day of the oil show which is slated for May 6 to 9 at […]

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Tehran, Muscat to close Gas Deal by July: Iran

Iranian Minister of Petroleum Bijan Zangeneh says Tehran and Muscat will finalize a gas deal by the end of June 2018. The deal concerns construction of a subsea gas pipeline to transfer Iranian natural gas to the Sultanate of Oman, IRNA reported. Speaking in Muscat on Wednesday evening, Mr. Zangeneh said the agreement for construction […]

Gas Supply to Chabahar Power Plant complete by May

An Iranian gas official says the first phase of gas supply to Chabahar power plant for delivering a million cubic meters per day of natural gas to the facility will be complete by late May. Speaking to Shana, Saeid Momeni, the director of gas distribution department of the National Iranian Gas Company (NIGC), said the […]