Tag Archives | National Iranian Oil Company (NIOC)

Iran 3rd in World for Exploration Capacity

Iran is ranked as the third country in the world, after Russia and Iraq, for enjoying exploration capacity, according to the United States Geological Survey (USGS). Addressing an upstream forum at the 3rd Iranian Petroleum and Energy Club Congress and Exhibition in Tehran, Director of Exploration at the National Iranian Oil Company (NIOC) Seyed Saleh […]

Iran Plans for Giant Leap in Oil Industry

Iran says it is gearing up efforts including study of its oil reserves to ramp up the country’s crude oil production, a senior Iranian oil official says. Addressing a conference here in Tehran, Gholamreza Manouchehri, deputy for development and engineering at the National Iranian Oil Company (NIOC), said plans are under way to study all […]

Azadegan Oilfield Tender Delayed Again

By John Lee. The managing director of the National Iranian Oil Company (NIOC) has said that a tender to develop the Azadegan oilfield will not take place this year. Ali Kardor told ISNA news agency that oil companies are still assessing the technical surveys relating to the field, which is shared with Iraq. (Source: Reuters)

Lukoil, NIOC sign MoUs on Caspian Sea Oil Project

The National Iranian Oil Company (NIOC) and Russian energy giant, Lukoil, have signed two MoUs for carrying out geological studies on oil projects in the Caspian Sea. The documents were signed in Moscow in a ceremony held in the presence of Iranian Minister of Petroleum Bijan Zangeneh and Lukoil Managing Director Vagit Alekperov in Moscow […]

US “Unable to Stop Irans Oil Exports”

If the US reimposes sanctions on Iran’s oil sector without the support of Europe, China and Russia, it will see grudging and uneven compliance by international energy companies and will not be able to stop crude flows that returned to the market in 2015, according to sanctions expert Elizabeth Rosenberg, Platts reported. “Grudging compliance does […]

Petrobras may Explore in Caspian Sea

Brazil has expressed an interest in looking for hydrocarbon reserves in the Iranian share of the Caspian Sea. This was announced by Brazil’s Ambassador to Tehran Rodrigo de Azeredo Santos in a meeting with Yousef Etemadi, the acting managing director of Iran’s Khazar Exploration and Production Company (KEPCO). Santos emphasized that Brazil’s Petrobras was ready […]

Iran’s Crude Exports to S Korea Rise by 40% in August

South Korea’s imports of Iranian crude oil rose by 40.2 percent in August compared to the same period last year, a report said. South Korea brought in 1.55 million tons of Iranian crude last month, or 365,641 barrels per day (bpd), compared with 1.1 million tons in the same month in 2016, customs data showed, […]

Shell, NIOC discuss Gas Field Development

Anglo-Dutch oil giant Shell met with officials from the National Iranian Oil Company (NIOC) to discuss the development project of Iran’s Kish gas field. A delegation from Shell headed by Hand Nijkamp, Shell’s VP in Shell Upstream International, Middle East and North Africa, met with Gholamreza Manouchehri, deputy for development and engineering at NIOC, and […]

Oil Output to Reach 4.5m bpd in 5 Yrs

The CEO of the National Iranian Oil Company (NIOC) Ali Kardor said Iran will reach an oil production rate of 4.5 million barrels per day (bpd) within five years. Iranian gas production will reach 1.3 billion cubic meters per day and production of gas condensate will reach 864,000 bpd in the next five years, Kardor […]

Iran’s Oil Exports to Europe, China Grow in August

Iran’s oil and condensate exports to Europe rose in August, with demand from Italy, France, the Netherlands and Greece all up, a report said. Iranian oil flows to Europe rebounded sharply last month, with 835,742 b/d sailing to the region, a rise of almost 200,000 b/d month on month, Platts reported. Turkey also remains the […]

Possible Japan Budget Hike to Tap Iran Oil Opportunities

An official with Japan’s Ministry of Economy, Trade and Industry (METI) has requested an 11% hike in its budget for acquiring exploration and upstream development-stage assets in fiscal 2018-19 as the country is looking at oil opportunities in Iran, a ministry official said. The official said that METI has asked for a $552.8 million budget […]

Iran, India “Probably Part Ways” on Farzad B

Iran has started preliminary talks with Russians to develop Farzad B but negotiations also carry on with the Indians who have long coveted the giant gas field, Iranian Oil Ministry stated. “For the development of the Farzad B field, we are pursuing three separate paths in parallel, but none of the options is definite yet,” […]

Iran Inks Flaring Deal with France’s Sofregaz

The National Iranian Oil Company (NIOC) and a consortium of France’s Sofregaz and Sanat Sazeh Samin for recovery and consumption of flare gas at a refinery at South Pars. Signed on Wednesday, the deal was signed by Ali Mohammad Ahmadi, operator of South Pars Sustainable Development Project representing NIOC, Sofregaz Managing Director Yann Aubry Lecomte […]

Russian Companies Submit Plans to Develop Iran Oil Fields

Russian energy companies Zarubezhneft, Gazprom Neft and Lukoil have submitted plans to the National Iranian Oil Company (NIOC) to develop oil fields in Iran. Zarubezhneft representatives outlined their plans to increase the recovery rate of oil from the Aban and West Paydar fields, Iran’s Ministry of Petroleum announced on Monday. A memorandum of understanding for […]

Iran’s Condensate Exports Rise 18 Percent

There has been an increase of 18 percent in exports of Iran’s condensate to global markets, the ultra light fuel, over a period of five months starting 21 March 2017. Masoud Hassani, the managing director of South Pars Gas Complex (SPGC), which is responsible for the bulk of Iran’s condensate production and exports, said that […]

Oil Swaps bring Iran, Caspian Neighbours together

By Bijan Khajehpour, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. On Aug. 18, Iranian officials announced that they had now put in place the infrastructure to swap up to 500,000 barrels per day (bpd) of crude oil with its Caspian neighbors. Under these agreements, […]

Lukoil, Pertamina propose Plans to Develop Mansouri Oil Field

Proposed plans by Russia’s Lukoil and Indonesia’s Pertamina to develop the Bangestan reservoir of Mansouri oil field have been reviewed by the National Iranian Oil Company’s (NIOC) Supreme Council of Reserves. The Council made comments on the plans and the improvement of the quality of the study and the reduction of existing uncertainties, which ultimately […]

Gazprom Neft Presents Oilfields Studies to NIOC

Russia’s Gazprom Neft has submitted the result of its studies on Iran’s Changouleh and Cheshmeh Khosh oilfields to the National Iranian Oil Company (NIOC). Officials from the company presented the studies to the NIOC at a meeting with Gholamreza Manouchehri, deputy for development and engineering of the company, and senior executives from the Petroleum Engineering […]

PTTEP submits Study Results on Iran Oilfields

Thailand’s PTT Exploration and Production Public Company Limited (PTTEP) has handed over the result of its studies on a number of Iranian oil and gas fields to the National Iranian Oil Company (NIOC). The studies included development projects of Changouleh, Balal and Dalamperi oilfields in Iran. NIOC will weigh studies of the Thai company to […]

Inpex to Return to Azadegan Oil Field?

Japan’s biggest oil and gas explorer Inpex Corp might participate in a tender to develop the Azadegan oil field in southwestern Iran and form a consortium with other foreign oil firms to that end, a high-ranking Iranian official said. If Inpex gets involved in the Azadegan again — after giving up its stake in the […]