Archive | Oil & Gas

Linde Group Eyes Return to Iran

By John Lee. The Chief Executive Officer of Germany’s Linde Group has said Iran’s petrochemical industry is in an ‘acceptable’ state, but needs to be upgraded in some areas. In an interview with Shana, Wolfgang Buchele (pictured) told Shana during a Tehran visit in July. “We learned today there is an intention of the Ministry […]

RIPI Launches Semi-Industrial Coker

The Research Institute of Petroleum Industry (RIPI) has launched Iran’s first petroleum coker unit which can process 400 kilograms of pet coke in every production cycle. Attending a ceremony to launch the unit on Tuesday, RIPI Chief Hamid Reza Katouzian hailed the construction of the unit by Iranian industrialists as a technological success for the […]

Russia’s Lukoil to sign MoU with Iran

By John Lee. Russia’s energy giant Lukoil is set to sign an MoU for boosting oil recovery, oil exploration and extraction with Iran, an Iranian deputy petroleum minister says. Cooperation was discussed between Minister of Petroleum Bijan Namdar Zangeneh and Lukoil Chief Executive Vagit Alekperov (pictured) in the wake of a new opening following the […]

Amec Foster Wheeler Gears up for Iran Return

By John Lee. A senior executive at British engineering consultanct Amec Foster Wheeler says the company is carefully watching the progress of Iran’s nuclear deal with world powers in the hope of returning to the country. Garry Dryburgh, Middle East and Africa President, told Shana: “We are watching with interest the implementation progress of the joint […]

Iran to Unveil New Oil Contracts in Nov

The Managing Director of the National Iranian Oil Company (NIOC) has said Iran will introduce its new oil contracts in early November in Tehran. “The first phase of contracts will be unveiled in November in Tehran and a follow-up conference will be held in one or two months in London,” Roknoddin Javadi (pictured) told reporters. […]

Iran signs Development of Esfandiar Oilfield

The Iranian Offshore Oil Company (IOOC) and a Norwegian-Austrian company have signed a preliminary agreement for the development of the offshore Efandiar field, IOOC Managing Director Saeed Hafezi [Saeid Ha’fezi] (pictured) says. “The initial confidentiality agreement has been signed, the MDP (master development plan) prepared and sufficient data exchanged. We are only waiting for the […]

Iran wants Long Term Contracts with China

Iran’s First Vice-President, Eshaq Jahangiri, said on Tuesday that Iran was prepared to boost cooperation with China in the energy sector. In a meeting in Tehran with Zhang Yi, the head of China’s State-owned Assets Supervision and Administration Commission (SASAC), he added that Tehran is ready to sign long term contracts in the oil and […]

Iran, Iraq to Boost Trade

By John Lee. Iranian Economy Minister Ali Tayyebnia said that trade between Iran and Iraq is currently estimated at $12 billion when transit and tourism are taken into account, and that Tehran and Baghdad expect to increase the figure to $20 billion in the near future. The statement followed a meeting with Iraqi Finance Minister […]

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NIOC Opens Office in Iraq

By John Lee. Iran’s Deputy Oil Minister has announced that an office of the National Iranian Oil Company (NIOC) has been officially opened in Iraq. According to a report from Mehr News Agency, Roknoddin Javadi (pictured), who is also the Managing Director of the NIOC, stressed the need to be present in neighbouring countries, adding […]

Iran Targets Oil Exports, Regardless of Price

By John Lee. The Minister for Petroleum, Bijan Namdar Zanganeh (pictured), has reportedly said that Iran will raise its crude output by 500,000 barrels per day just few days after sanctions are lifted, regardless of the effect on the international prices. Iranian news agency IRNA quotes him as telling a press conference: “We are not […]

Iran to Offer 3 Gasfields for Investment

By John Lee. Iran will offer three gasfields to foreign investors at a conference in London in December, according to a report from Reuters. The Managing Director of Pars Oil and Gas Company (POGC) said the gasfields on offer would be North Pars, Golshan and Ferdowsi, adding that Iran is due to unveil its new […]

Winners and Losers if Sanctions Lifted

By John Lee. An analysis by Fortune magazine lists the expected winners and losers from a lifting of sanctions on Iran. Winners EU automakers: Companies such as Germany’s Mercedes-Benz, and Peugeot and Renault of France, are identified as being well positioned to take advantage of Iran’s large market. Oil services companies: Iran says it needs […]

Shell to Pay Iran Debt, Considers Investment

By John Lee. A top executive at Shell has said that the company is to repay a $2 billion (1.3 billion pounds) debt to the National Iranian Oil Company (NIOC) when sanctions on Iran are lifted, and will consider investing in the country’s vast energy sector. The debt is a result of Iranian oil deliveries […]

Kuwait, Iran in Dispute over Gas Field

By John Lee. Kuwait has reportedly summoned the Iranian charge d’affaires to protest against a bid by Iran to develop a disputed offshore gas field. According to TradeArabia, the field, known in Iran as the ‘Ashar’ field, and as the ‘Durra’ field by Kuwait and Saudi Arabia, is the subject of negotiations between the three […]

Indian Group makes pitch for Farzad B Field

By John Lee. India’s ONGC Videsh, the overseas investment arm of Oil and Natural Gas Corp, has submitted a revised proposal for the development rights of Iran’s giant Farzad B gas field. Managing Director N. K. Verma (pictured) told Reuters that a consortium headed by ONGC Videsh, and including Oil India and Indian Oil Corporation, […]

Iran, Iraq Discuss Azadegan Oilfield

By John Lee. Iraq’s Ambassador to Iran, Rajeh Saber Aboud al-Moussavi, has said that Tehran and Baghdad are in talks on investment in the joint Azadegan oilfield. The field, situated 80-100 kilometres west of Ahvaz in Khuzestan province, was discovered in 1999, and has reserves estimated at 33 billion barrels. It is already producing 50,000 […]