Archive | Oil & Gas

Esfahan Petchem Exports Above $43m

Esfahan Petrochemical Company (EPC) exported more than 43 million dollars of petrochemical products in the first half of the current year (March 21-Sept 22), the firm’s CEO said. “[Six month] exports amounted to 43.168 million dollars which build up 70 percent of our output,” Hamid Sotudehfar said. The Petrochemical Commercial Company (PCC) also announced it […]

“Prospects for 2016/17 are Brighter”, IMF

An International Monetary Fund (IMF) team has reported that comprehensive economic reforms will be needed in Iran if it is to benefit from the nuclear deal it struck with six world powers in July. It said real GDP growth is projected to decline from 3 percent in 2014/15 to somewhere between 0.5 to -0.5 percent in […]

NISOC Ready Increase Oil Output

The Managing director of the National Iranian South Oil Company (NISOC) said on Wednesday that the company is ready to increase oil production by 30 percent. Bijan Alipour told IRNA that the NISOC, the biggest oil company affiliated to National Iranian Oil Company (NIOC), has enough capacity to add 600,000 bpd to its current production […]

Shell Delegation in Iran for Oil Talks

A delegation from global energy giant Royal Dutch Shell is visiting Iran for talks with the country’s oil officials. The delegation, which arrived in capital Tehran on Friday , will stay in Iran for four days, the local media reported. They are also scheduled to have separate meetings with Iran’s key banks, the Iran-UK Chamber […]

Private Sector Cash to Pump Iranian Gas to Iraq

The pipeline to carry gas to Iran’s western and northwestern regions as well as exporting it to neighboring Iraq will start soon with BOT (Build-Operate-Transfer) financing from Bank Pasargad, the bank’s CEO has said. “We have increased our investment for the development of oil, gas, refining, and petrochemical industries. The contract to finance the Iraq […]

Iran LPG Volume Up 70%

Gas refining companies affiliated to the National Iranian Gas Company (NIGC) produced more than 1.337 million metric tons of LPG in the first half of the current year (March 21-September 22), marking a record 70 percent increase compared to the corresponding period last year. “Gas output was also up by 4 percent with a total […]

Spanish Firms Considering Projects in Iran

IRNA reports that Spanish companies have begun analyzing tenders for participation in infrastructure and development projects in Iran to be implemented in the course of the next year. According to Spainish political daily The Diplomat, Iranian officials have declared the country’s readiness for partnership with foreign firms in 121 infrastructure and development projects worth more […]

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French Companies Eye Iranian Market

Senior officials from more than 150 French companies visited Tehran recently to discussed investment prospects in oil, gas and other sectors. Eric Festa, the director general of Total E&P Iran, said that the company currently has to comply with international sanctions on Iran, but told Iran Daily: “Following the lifting of the embargoes, we will […]

Iran to Build 2nd Oil, Gas Export Terminal in Jask

The Secretary of the Supreme Council of Iran’s Free Trade, Industrial, and Special Economic Zones said the country’s second terminal for exporting oil and gas after the Kharq Island in the Persian Gulf will be constructed in the Jask port, southern Hormozgan province. Introducing the government’s plans to develop the coastal strip of Makran along […]

No Plan for Foreign Investment at S Azadegan

An official in the Petroleum Engineering and Development Company (PEDEC) said Iran has no plan, for the moment, to delegate development of its rich South Azadegan oil field to foreign contractors. “Domestic firms are busy with the projects,” Mahmoud Marashi (pictured), contractor of the field’s development, told Shana. “We will do our best to achieve […]

Iran Invites Foreign Firms to Develop Oil and Gas

By John Lee. Iran’s deputy Oil Minister has said that the country is inviting foreign investors to actively develop its energy industry after the expected easing of sanctions. Rokneddin Javadi (pictured) told Reuters: “We welcome all oil companies, including the Americans, that meet Islamic Republic’s requirements to invest in Iran. We welcome competition among foreign […]

Senergy Working on Oil Deals despite Sanctions

Iran’s Research Institute of Petroleum Industry (RIPI) quotes a representative of the Britiah company LR Senergy as saying that the company has been active in Iran despite the western sanctions, and is in the process of signing new contracts. “We are in the process of signing agreements. The current sanctions regime does not stop us […]

European Unis Link with Iran Energy Research

The Research Institute of Petroleum Industry (RIPI) and DBUII consortium of universities will discuss prospects of research cooperation on the sidelines of the Second International Conference on Technological Opportunities (ICTO) in Oil and Gas Industry which opens in Tehran this week. DBUII, comprising TU-Delft University of Technology in Netherlands, Bergen University in Norway, Ultrecht University […]

Progress at South Pars Phase 19

The operator of the Phase 19 development of South Pars gas field has said that the SPD 19C platform of the phase is now complete, and 500 million cubic feet/day of sweet gas will be supplied to the national gas network to meet domestic demand. The 19C platform can recover one billion cubic feet of […]

$8bn Profit Waiting Iran’s Foreign Investors

President of the Research Institute of Petroleum Industry (RIPI) said international firms and investors will turn a profit of 8 billion dollars after removal of the sanctions against Iran. “It is estimated that with implementation of the (nuclear) Joint Comprehensive Plan of Action (JCPOA), a market worth 8 billion dollars will be before international firms […]

Iran Cabinet Passes New Oil, Gas Contracts Bill

The Iranian cabinet approved the Petroleum Ministry’s draft international contracts by endorsing the general terms, organization, and pattern of the new upstream oil and gas documents introduced as Iran Petroleum Contract (IPC). Increasing of oil and gas production capacity especially in joint fields, adoption of modern procedures, signing contracts with authorized companies in exploration, development, […]

US Firms ‘Likely to Attend’ Oil Contracts Conference

The Managing Director of the National Iranian Oil Company (NIOC) said the US companies are likely to take part in the upcoming conference to unveil Iran’s new oil contracts in Tehran. “There is no clear picture about their participation, but the chance can’t be ruled out,” Rokneddin Javadi (pictured) told Shana. “The government has laid […]

Malaysia’s Petronas Visits Iran

Experts and managers from the Iranian Central Oil Fields Company (ICOFC) and Malaysian oil and gas company Petronas met on Wednesday to exchange ideas and share experiences. The visiting Malaysian delegation presented its experience in the international markets after which participants discussed organizational, training and management procedures. Building on bilateral relations between Iran and Malaysia, […]

Iran-Iraq Joint Summit on Border Patrols

By John Lee. According to a report from Mehr News Agency, the fifth joint summit on border patrolling of Iran’s west provinces and Iraqi border cities has begun in Mehran, Iran, with the presence of the Commander of the Iranian Border Guard Units General, Ghasem Rezaei [Qasem Rezaee] (pictured). The summit will review the security […]

Austrian, Iranian Collaboration

By John Lee. The owner and manager of the Austrian Bertsch Group has said that family-owned Austrian companies have always received warm welcome from their Iranian counterparts because they trust each other. Hubert Bertsch told Shana that the company, which is involved in power plants, waste-heat recovery systems, oil and gas has a long history […]