Tag Archives | Abadan

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 […]

Video: Anti-Govt Protesters Injured in Khuzestan

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. Iranian state media says a number of people have been wounded during two days of clashes between police and protesters across the southeastern region of Khuzestan. Eleven people were hurt after unknown gunmen […]

Sinopec to Upgrade Iran’s Abadan refinery

China’a Sinopec Engineering has announce that the Group has agreed an engineering, procurement and construction (EPC) contract with the National Iranian Oil Engineering and Construction Company in relation to Phase II of the Abadan refinery upgrade. The Group puts the value of the contract at RMB6.858 billion ($1.06 billion). (Source: Sinopec)

€100m Needed to Launch Phase II of BGCR

A senior Iranian energy official says Iran would require an investment of 100 million Euros for completing phase two of the Bandar Abbas Gas Condensate Refinery. Addressing a press conference on Sunday, Managing Director of the National Iranian Oil Refining & Distribution Company (NIORDC) Alireza Sadighabadi said launching the project would need €100m while its […]

SKEC to Upgrade Tabriz Refinery

South Korea’s SK Engineering and Construction Co. (SKEC) signed a heads of agreement on Saturday for a 1.6 billion euro upgrade of the Tabriz refinery in northwest Iran. South Korean National Assembly Speaker Chung Sye-kyun, who was in Tehran to attend President Hassan Rouhani’s swearing-in, oversaw the signing between SKEC, Tabriz Oil Refining Company and […]

Iraq, Iran agree to Resolve Dispute on Joint Oil Fields

By Sara al-Qaher for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.  On Feb. 20, the Iraqi Oil Ministry signed a memorandum of understanding with the Iranian Oil Ministry to settle disputes over the joint oil fields and examine the possibility of building […]

Work Starts to Develop Abadan Oil Refinery

Iran has launched a new project aimed at enhancing the capacity of Abadan Oil Refinery and stabilizing its operation. Located in the southwestern city of Abadan, the refinery will process 360,000 barrels/day of crude oil after the project is complete. Iranian Minister of Petroleum Bijan Zangeneh, attending a ceremony to break grounds for the project, […]

China to Invest $3bn in Iranian Refinery

By John Lee. Iran and China are to sign a $3-billion contract next month to upgrade the Abadan oil refinery (pictured), according to Mehr News agency. Deputy oil minister Abbas Kazemi said that China officially opened the financing for the plan last week. (Source: Reuters)

Iran in Talks with Japan to Optimize Oil Refining

Iran is finalizing negotiations with two major Japanese companies to improve the efficiency of Tehran’s aging refineries, an official announced. In an interview with Tasnim, Abbas Kazemi, managing director of the National Iranian Oil Refining and Distribution Company (NIORDC), said Iran has been in talks with Japanese and South Korean companies to optimize oil refining […]

Iran Plans big Oil-Refinery Expansion

Iran plans to build five new refineries over the next four years to increase capacity from its current level of 1.85 million bpd to about 3.2 million bpd. Abbas Kazemi, managing director of the National Iranian Oil Refining and Distribution Company (NIORDC) told Bloomberg that the country also needs about $14 billion in investment to […]

Iran ‘Creating own Jebel Ali in South’

Iran is planning to create a major free trade zone (FTZ) on its southwestern border areas with Iraq, reminiscent of the hugely successful Jebel Ali trade hub in the United Arab Emirates. The Arvand FTZ covers an area of more than 37,400 hectares, including Abadan, Khorramshahr, Minoo Island and the Shalamchech border crossing to Iraq. […]