Archive | Oil & Gas

NISOC signs Major Gas Deals with PGPIC, Maroon Petchem

The National Iranian South Oil Company (NISOC) signed two contracts, totally valued at $1.2 billion, with the Persian Gulf Petrochemical Industries Company (PGPIC) and Maroon Petrochemical Company for gathering associated gases in East Karoon area. The deals was signed on the sidelines of inauguration of some petrochemical projects in Asaluyeh, southern Iran, on Tuesday. The […]

Iran Develops Technology to Make Refinery Catalysts

An Iranian petrochemical company achieved the technical know-how to make special catalysts used for gasoline production, making Iran the world’s second producer of such advanced component and helping it earn as much as $60 billion a year in export revenue. According to Jaleel Sobhani, CEO of Iran’s ‘Supplying Petrochemical Industries Part Equipment and Chemical Engineering’ […]

Iran Launches New Petrochemical Plant

Iranian President Hassan Rouhani inaugurated a new methanol-producing plant in Iran’s energy-rich province of Bushehr. During a visit to the southern port city of Assalouyeh on Tuesday, the Iranian president opened ‘Marjan’ methanol plant, developed by a private sector petrochemical company. The nominal production capacity of the plant, whose construction began in 2011 in an […]

Iran to Launch Energy Technology Center

The Scientific and Technology Department of Iranian Presidential Office will launch an energy technology center for the first time in the country. Kambiz Mehdizadeh, secretary of the energy technological development of the Scientific and Technology Department of the Presidential Office, said the center will be inaugurated with support from the private sector to serve as […]

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Iran Seeking to Save Major Oil Deal with Vitol

The National Iranian Oil Company (NIOC) is in talks to salvage a $1 billion oil deal with Swiss trader Vitol Group as companies sever ties with the Islamic Republic ahead of US sanctions. Iran is fighting to keep one of its most profitable oil deals, according to people familiar with the matter, the Wall Street […]

Marjan Petchem Plant Operational

Iran’s Marjan Petrochemical Plant is currently producing methanol in a sustainable manner. The newly-built facility is now fully operational and is supplying pure methanol, National Petrochemical Company (NPC) reported. Assaluyeh Green Tank Farm is responsible for the transfer, storage, and shipment of the plant’s output to the jetty for export. Marjan Petrochemical Co. is one […]

German Energy Firms to Visit Iran Gas Show

Senior executives from German gas and energy companies are scheduled to visit the First Iran International Gas Show (IRGS 2018) to be held in Tehran in September. The companies are active in the fields of natural gas exploration, production, transportation, storage, marketing and other related services, and provide professional solutions to upstream and downstream projects, […]

OMV Calls for More EU Defense against Sanctions

The CEO of Austrian energy company OMV called on Europe’s politicians to do more to protect EU companies from the returning US sanctions against Tehran. “We are defending ourselves from these political threats whose only purpose is to distort the market in favor of more expensive products,” Rainer Seele told Bloomberg on Thursday. He added, […]

MAPNA Group Awarded Major Oil Projects

The National Iranian South Oil Company (NISOC) has signed a heads of agreement with MAPNA Group for the development of Parsi and Paranj [Karanj?] oilfields in the southwestern province of Khuzestan. The document was signed on Monday, August 6, by NIOSC CEO Bijan Alipour and Mojtaba Gharavi, director of MAPNA’s oil and gas section. MAPNA […]

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Iran Offers India Oil Cargo Insurance, Ships

Iran is offering to insure oil cargoes to India after some local insurers stopped providing the service in the face of impending US sanctions, industry sources said, a move that would help Tehran continue supplying its second-biggest oil client. Several refiners in Asia, Iran’s key market for oil sales, are gradually reducing the amount of […]

Scottish-based Engineering Firm to Exit Iran

Scottish-based engineering company Weir Group has reported that performance in its international businesses was weaker in the first half of the year, reflecting market conditions and the exit from recently won contracts in Iran following the recent re-imposition of US sanctions. (Source: Weir)

Iran Joins Club of Gas Odorant Producers

Iran has joined France and Russia as the third producer of gas odorant, mercaptan, an official said. Mercaptan is used in the natural gas industry as an odorant, due to its ideal compatibility with methane. Its characteristic “rotten eggs” smell is widely known by natural gas customers as an indicator of a possible gas leak, […]

MAPNA Ready to Replace Total in South Pars

Iranian holding company MAPNA Group voiced readiness to take over a project on development of the country’s South Pars gas field as French company Total has backed out of its contract with Iran for fear of the US sanctions. In an interview with Tasnim, CEO of MAPNA Abbas Aliabadi said his holding is prepared to […]

Iran, Russia Discuss Energy Cooperation

Iranian Oil Minister Bijan Zangeneh and Russian Energy Minister Alexander Novak held a meeting in Moscow on Monday and discussed energy cooperation between the two countries and through OPEC, Russia’s Energy Ministry said. The two ministers also discussed the possibility of Russian oil companies taking part in projects in Iran, the ministry said in a […]

Russia Prepares for $50bn Investment in Iran Energy

Russia is getting ready to invest US$50 billion in Iran’s oil and gas industry as the two countries continue to seek closer ties, just as the United States is looking to cut as much Iranian crude oil exports from the market as possible. “Russia is ready to invest $50bn in Iran’s oil and gas sectors,” […]

500MW Power Plant Planned in West Karoun

Development of jointly owned oil fields in the West Karoun area in western Iran remains a priority for the Iranian Ministry of Petroleum. Iran is currently recovering more than 350,000 b/d of oil from these fields, which is expected to reach 1.2 mb/d in coming years. A major requirement for reaching such production levels would […]

US Sanctions to assist China to buy more Iran Oil

The US government is expecting Iran’s oil clients to sharply cut imports from the country under the threat of sanctions but senior American officials believe China is likely to buy even more Iranian crude, the Wall Street Journal reported. China is Iran’s top crude oil buyer, which imported around 655,000 barrels a day on average […]

Tehran, Vienna Extend Energy Cooperation

Iran and Austria have held talks to bolster oil and energy ties, a senior Iranian energy official said. Amir Hossein Zamaninia, deputy petroleum minister for international affairs and trading, who accompanied President Hassan Rouhani in his visit to Switzerland and Austria, outlined the visit’s achievements, saying the agreement on energy cooperation between the Iranian Ministry […]