Tag Archives | oil production

Why OPEC deal is a Double-Edged Sword for Iran

By Dr. David Ramin Jalilvand for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The Organization of Petroleum Exporting Countries finally agreed to cut oil production at its Nov. 30 meeting in Vienna. The decision was preceded by months of intense negotiations against the backdrop of […]

Iran, Iraq asked to Freeze Oil Output at Current Levels

By John Lee. Qatar’s Energy Minister has reportedly said that Iran and Iraq are being asked to freeze oil output at current levels, as part of a wider deal to restrain production. According to ArabianBusiness.com, Mohammed Al Sada told reporters: “We are discussing with both countries on that and we are looking at various ways and […]

Iran “Heartened” at Increased Crude Production

Increasing its crude oil production capacity mainly from Western Karoun joint oilfields, Iran has been heartened and reassured as far as the country’s status in OPEC is concerned. Talking in the verge of the official opening of the three development plans of North Azadegan, Yadavaran and Yaran, Gholam-Reza Manouchehri the deputy head of National Iranian […]

Iran Inaugurates Three Joint Oilfields in Khouzestan

Iran has launched first phase production at three fields in its oil-rich Khouzestan province which bring its total crude output to 300’000 barrels per day. Production from Yadavaran, North Yaran and North Azadegan were inaugurated in an official ceremony attended by President Hassan Rouhani. Iran had awarded Yadavaran to China’s Sinopec through a contract worth […]

Why OPEC still can’t get Iran to cut oil production

By David Ramin Jalilvand, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. OPEC members have in recent months repeatedly met to discuss production cuts. The cartel’s members are suffering from the dramatic decline in oil prices over the past two years, which has seen crude dropping […]

Iran Producing Nearly 4.5m bpd of Oil

Iran is producing around 4.5 million barrels per day (bpd) of crude less than a year after the removal of anti-Tehran sanctions, a report said. Iranian refineries are pumping out around 4.5 million barrels per day (bpd) of oil and ultra light oil condensate, according to the preliminary tanker schedule, Reuters reported. Iran exported 2.56 […]

Zangeneh not to Participate in Istanbul Talks

Iranian Oil Minister Bijan Namdar Zangeneh will not attend informal talks between OPEC and non-OPEC producers scheduled to be held in Turkey this week, a report said. The oil ministers of Iran and Iraq will not take part in the talks in Istanbul, Turkey, which is hosting the World Energy Congress, Reuters reported on Monday, […]

Iran Has No Intention to Cap Oil Output: Oil Minister

Iranian Oil Minister Bijan Namdar Zanganeh said Iran has no plans to freeze its oil production at current levels. “It’s not our agenda to reach agreement in these two days,” Zanganeh told Bloomberg Television in an interview Tuesday. The Iranian oil minister is attending an informal meeting underway between members of the Organization of the […]

North Azadegan Crude Oil Exports hit 8mb

The operator of North Azadegan oil field says Iran has so far exported over 8 million barrels of crude oil from the field. Keramat Behbahani has said export of crude oil from the field has reached 8 million barrels and settling pays of the field’s Chinese developer is being considered. Iran is currently producing 75,000 […]

Iran Supports Measures to Stabilize Oil Market

Iranian President Hassan Rouhani said his country will support any measure aimed at stabilizing global oil market and recovering prices. “The Islamic Republic of Iran will support any move toward market stabilization and oil price recovery based on justice, fairness and just share for oil producing countries,” Rouhani said during a meeting with OPEC Secretary […]

Iran to Produce Oil in South Pars by March 2017

The CEO of the National Iranian Oil Company (NIOC) announced that the country will begin oil production in an oil field of the massive offshore South Pars by the end of the current Iranian year (March 20, 2017). Speaking to the Tasnim News Agency, Ali Kardor said the development of the first phase of the […]

Iran Undecided on Joining Next OPEC Meeting

A spokeswoman for Iran’s Oil Ministry said Tuesday the country has not yet decided to participate in an upcoming OPEC meeting on oil freeze plan scheduled to be held next month. Iranian officials “have not determined yet to join the meeting” and have “made no decision” on joining a cap, the spokeswoman said as quoted […]

320k bpd Expected from South Azadegan

By John Lee. Iran plans to produce 320,000 barrel per day of crude oil from the first phase of South Azadegan oil field in next two years. The producer of the South Azadegan oil field development plan told a press conference that crude oil production will start in late August at 30,000 bpd, gradually increasing to […]

Indonesia Says to Buy Stake in Iran Oil, Gas Block

A senior official at Indonesia’s energy ministry said on Monday that the country’s state energy company Pertamina plans to sign a deal to purchase a stake in an oil and gas block in Iran within a week. “The government to government agreement is done, so now (we are) following up with a company to company […]

Yadavaran Crude Production at 95,000 bpd

Iran is currently recovering 95,000 barrels of crude oil per day from Yadavaran oil field of which 75,000 bpd is light crude oil. Operated of the field’s development project, Hadi Nazarpour told Shana that the field’s first phase development was being carried out for production of 85,000 bpd while in practice its output exceeds 95,000 […]

Rouhani Doubles Iran Oil Exports

Iran’s crude oil exports have doubled since Iranian President Hassan Rouhani took office in August 2013, the Iranian Ministry of Petroleum has announced. The Planning and Supervisor of Hydrocarbon Reserves Department of the petroleum ministry has announced that Iran’s total export of crude oil and gas condensate (ultralight oil) under the Rouhani administration grew dramatically […]

Iran’s Oil Exports Surpass 2m bpd

Iranian Oil Minister Bijan Namdar Zanganeh confirmed that the country’s oil exports have surpassed 2 million barrels per day. Speaking at an open session of the parliament on Tuesday, Zanganeh said Iran’s crude oil production in the first five months of the Iranian year 1392 (three years ago) amounted to 2.7 mln bpd but it […]

Iran Doubles Oil Exports in 6 Months: Minister

Iran has managed to double its oil exports during the interval between the previous and forthcoming meetings of the Organization of the Petroleum Exporting Countries (OPEC), Iran’s Oil Minister Bijan Namdar Zanganeh said. Speaking ahead of his trip to Vienna for the 169th OPEC meeting, Zanganeh said Iran’s oil exports have increased twice as much […]

Iran’s Oil Output Back to Pre-Sanctions Level

The International Energy Agency (IEA) has announced that Iran’s oil production has returned to pre-sanctions levels. According to the IEA charts, Iran’s oil output reached 3.56 million barrels a day in April, the highest since November 2011, Bloomberg reported. Data also show that Iran’s crude exports have increased to 2 million barrels a day, close […]

MSOGC Eyes 10% Rise in Output by March 2017

The Managing Director of Masjed Soleiman Oil and Gas Company (MSOGC) said the company will boost its output by at least 10 percent by the end of the current Iranian calendar year to March 20 2017. Ebrahim Piramoon told Shana that the company’s performance for the previous calendar year was more than expected and it […]