Tag Archives | Russia

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 […]

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 […]

Iran World’s Third Largest Natural Gas Producer

Iran has been named the worlds third largest natural gas producer in 2016, according to the International Energy Agency (IEA). The IEA in its report said Iran had produced 190 billion cubic meters (bcm) of gas last year which it said was 5.3 percent of world’s total. The agency in its report said the US […]

Russia lends €1.2bn for Iranian Power Plant

By John Lee. Russia’s state-owned Vnesheconombank (VEB) has reportedly agreed to lend Iran’s Bank of Industry and Mines €1.2-billion over five years for the development of the  1,400-MW Hormozgan thermal power plant. According to PressTV, Russian President Vladimir Putin said in February that Moscow would grant a total of €2.2 billion to Iran for two […]

Iran’s Top Diplomat Due in Russia Wednesday

Iranian Foreign Minister Mohammad Javad Zarif will travel to Russia on Wednesday for a series of diplomatic talks with Russian officials, a spokesperson said. Heading a delegation, Zarif is going to visit Russia’s southwestern city of Sochi, Iranian Foreign Ministry Spokesman Bahram Qassemi announced. The senior Iranian diplomat is scheduled to leave Tehran for Sochi […]

Talks on Iran-EAEU Partnership in Final Phase

Russia’s First Deputy Prime Minister Igor Shuvalov said talks with Iran over its partnership with the Eurasian Economic Union (EAEU) are nearing an end. “We are in talks with Singapore and we are close to conclusion of negotiations with Iran,” Shuvalov said on Wednesday, the Tass news agency reported. Iran and the EAEU negotiated for […]

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,” […]

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 New Industrial Policy to “Transform Political Economy”

By Esfandyar Batmanghelidj, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. New Industrial Policy Poised to Transform Iran’s Political Economy This past summer, the Industrial Development and Renovation Organization of Iran (IDRO) concluded landmark agreements with French automaker Renault and transportation giant Alstom as well […]

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 […]

Russneft eyes Oil Ties with Iran

Russian oil refining major Russneft has signaled keenness to enhance oil ties with Iran especially in crude oil swap projects, an official said. Amir Hossein Zamaninia, Deputy Petroleum Minister for international affairs and trading, said the Russian company has also indicated its willingness to join development projects in Iran’s oil fields including the Azadegan, Maroon, […]

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 […]

Russian Bank to Finance €1bn Rail Electrification

A Russian bank has reportedly agreed to provide 1 billion euros to electrify the 500-km rail line between the cities of Garmsar and Gorgan. Yusef Gheranpasha, of Islamic Republic of Iran Railways, said the project will be completed within three years; he did not name the bank. It covers design, sourcing of materials and equipment and […]

Essar Oil’s Iran Debt expected to be Paid

By John Lee. India’s Essar Group has completed the sale of its 98.26-percent holding in Essar Oil to Russia’s Rosneft and partners. Rosneft will take a 49.13 percent stake in Essar Oil, with a consortium of Trafigura and United Capital Partners (UCP) taking an equal stake, Essar Oil said in a statement. Essar Oil still owes […]

Iran, Russia, Turkey Sign $7bn Drilling Deal

Turkey’s Unit International announced it has signed a $7 billion agreement with Iran’s Ghadir Investment Holding and Russia’s state-owned Zarubezhneft to drill for oil and natural gas in Iran. In a statement, Unit said the three companies had invested a total of $7 billion for the drilling, which would take place at three oil fields […]

DNO Submits Plan for Changouleh Oil Field

The National Iranian Oil Company (NIOC) has received a proposal from Norway’s DNO oil and gas operator for the development of Changouleh Oil Field, a major one in western parts of the country. Gholam-Reza Manouchehri, the deputy for development and engineering affairs of NIOC confirmed that DNO’s proposed plan for the development of Changuleh oil […]

GIC Signs Agreement with Unit International, Zarubezhneft

Iran’s Ghadir Investment Company has signed a trilateral agreement with Russia’s Zarubezhneft and Turkish energy company Unit International to finance oil and gas development projects. Signed in Moscow on Monday, the deal concerns development of oil and gas projects in or outside of Iran. Based on the agreement, the three companies will form joint ventures […]

Over 150,000 Iranians Expected to Visit Russia in 2017

Ali Mohammadi, the Iranian consul general in Russia’s Astrakhan region, said over 150,000 Iranian tourists are expected to visit Russia during the current year. Visa-free travel for tour groups, established by Iran and Russia, will lead to the growth of tourist inflow, Mohammadi told the TASS news agency “Last year, more than 120,000 Iranian tourists […]

Russia: Visa-Free Travel for Iranians Possible Soon

Iranian citizens could start traveling visa free to Russia in two or three months, Russia’s ambassador to Tehran said recently. Speaking on the sidelines of a ceremony in Tehran, held to sign a contract between Iran and Russia on the joint production of train cars, Levan Jagarian said based on an agreement with Iran’s Foreign […]