Oil Industry

Tehran, Kabul emphasize expanding coop. in oil, gas sector

TEHRAN, May 20 (MNA) – Iran’s oil minister and Afghanistan’s minister of mines and petroleum on Tuesday stressed the need to expand bilateral cooperation in the fields of oil and gas.

US to reduce its military contingent in Syria to 900

TEHRAN, May 17 (MNA) – The United States is withdrawing its troops from Syria and plans to reduce its contingent there to 900.

US policy of maximum pressure on Iran failed experiment: min.

TEHRAN, May 14 (MNA) – Iran’s oil minister emphasized the diversification of the country’s crude oil sales portfolio, stating that the policy of maximum pressure is a repetitive slogan by the US and a failed experiment.

Investment in upstream oil sector key to economic growth

TEHRAN, May 13 (MNA) – The vice chairman of the Iranian Parliament’s Energy Committee said investment in the upstream oil sector is a strategic move that drives economic growth, improves livelihoods and enhances public services.

Oil industry is driving force of Iran's economy: PBO chief

TEHRAN, May 11 (MNA) – The head of Iran’s Plan and Budget Organization (PBO) described the oil, gas, refining and petrochemical industries as the driving force of the country’s economy.

Iran's oil min.:

Caspian Sea drilling operations resume after 3-decade halt

TEHRAN, May 09 (MNA) – Iran Oil Minister Mohsen Paknejad ordered the restart of exploratory drilling operations in the shallow waters of the Caspian Sea, deploying the drilling rig of the Northern Drilling Company in the Rudsar structure in Block 18.

Iran’s Polymer Powerhouse:

How HDPE & LDPE Are Shaping Global Industries

TEHRAN, May 07 (MNA) – Not surprisingly, Iran is standing out among the top 10 producers of different types of polyethylene known as HDPE and LDPE.

Countdown for biggest exhibitionin Tehran starts

TEHRAN, May 06 (MNA) – Tehran is to host its 29th International Oil, Gas, Refining and Petrochemical Exhibition dubbed "Iran Oil Show 2025" with the aim of introducing the country's industrial and commercial capabilities in the oil and gas sectors.

Petchem output capacity to hit 105m tons by yearend

TEHRAN, May 1 (MNA) – The CEO of the National Petrochemical Company (NPC) has announced that nominal production capacity of the petrochemical industry is expected to reach 105 million tons by the end of the Iranian calendar year 1404 (March 2026).

In Persian Gulf;

Iran seizes vessel smuggling over 84,000 liters of fuel

TEHRAN, Apr. 30 (MNA) – Iranian border guards have intercepted a vessel in the waters of Minab County, seizing over 84,000 liters of smuggled fuel in one of the largest maritime anti-smuggling operations in recent months.

Report;

Iran mulls buying oil from Azerbaijan amid warming ties

TEHRAN, Apr. 29 (MNA) – A report shows Iran may start importing sizable amounts of oil from Azerbaijan as part of efforts to strengthen economic and political relations with its northern neighbor.

Iran, Bolivia stress strengthening oil cooperation

TEHRAN, Apr. 28 (MNA) – Iran’s oil minister has emphasized the country’s readiness to expand and strengthen bilateral cooperation in oil, gas, refining and petrochemicals during a meeting with Bolivia’s minister of energy and hydrocarbons.

Ioran Oil minister:

Iran, Russia ink MoU after Joint Economic Commission meeting

TEHRAN, Apr. 26 (MNA) – Iran's oil minister highlighted the outcomes of 18th meeting of Iran-Russia Joint Economic Cooperation Commission, stating that the agreements reached outline a framework for long-term collaboration between the two countries.

Iran, Russia pursuing coop. in oil sector: Director General

TEHRAN, Apr. 23 (MNA) – Director General of Office of Europe, America and the Commonwealth of Independent States at the Ministry of Oil Mostafa Barzegar has said that the oil cooperation between Iran and Russia is followed up strictly.

NIOC to introduce 23 oil, gas exploration blocks

TEHRAN, Apr. 19 (MNA) – The National Iranian Oil Company (NIOC) is set to introduce 23 onshore and offshore exploration blocks to accelerate hydrocarbon resource exploration and attract investment.

Iran's oil output increases by 12,000 bpd: OPEC

TEHRAN, Apr. 14 (MNA) – The Organization of Petroleum Exporting Countries (OPEC) in its latest report has said that Iran's oil production volume has increased by 12,000 barrels per day (bpd ) in March, reaching 3.335 million barrels per day.

Iran to present 200 oil investment opportunities worth $135b

TEHRAN, Apr. 08 (MNA) – National Iranian Oil Company (NIOC) will introduce over 200 investment opportunities in the country’s upstream oil and gas sector in the current year, Deputy Investment and Business Director Amir Moghiseh announced.

What is Gilsonite?

TEHRAN, Apr. 07 (MNA) –Gilsonite is a high-demand raw material used in oil drilling, asphalt, and printing industries.

Iran to resume offshore oil, gas exploration in Persian Gulf

TEHRAN, Apr. 05 (MNA) – Iran will hopefully resume offshore oil and gas exploration activities in the Persian Gulf for the first time in five years, says a senior official at the National Iranian Oil Company (NIOC).

Iran's Oil Ministry responds to media claims about oil sales

TEHRAN, Mar. 24 (MNA) – An official at Iran’s Oil Ministry responded to certain media claims regarding the country’s oil sales, emphasizing that Iran’s oil trade complies with all accepted standards and norms in oil transactions.

Russia using Crypto in Chinese , Indian Oil Trade: Source

TEHRAN, Mar. 15 (MNA) – Russia is using cryptocurrencies in its oil trade with China and India to dodge Western sanctions, Reuters reported Friday, citing four sources with direct knowledge of the matter.

Chinese state refiners cut oil imports from Russia

TEHRAN, Mar. 15 (MNA) – Some state-controlled Chinese refiners have reduced purchases of Russian oil loadings for March as they assess the risks of dealing with sanctioned entities.

Iran begins gas production from first infill well at S Pars

TEHRAN, Mar. 12 (MNA) – Iran started gas production from its first infill well at South Pars, the country’s largest gas field in the Persian Gulf, increasing supply to meet growing energy demand.

Iran, Iraq discuss ways to strengthen energy partnership

TEHRAN, Mar. 05 (MNA) – Iran's Oil Minister Mohsen Paknejad and Iraq’s Minister of Electricity Ziad Ali Fadel met on Wednesday to discuss improving cooperation in energy sectors including oil, gas, petrochemicals, and electricity.

OPEC+ to raise output for first time since 2022

TEHRAN, Mar. 04 (MNA) – The Organization of the Petroleum Exporting Countries and its allies, a grouping known as OPEC+, has decided to go ahead with plans to increase its production in April after three years of imposing cuts.

NIOC announces Iranian crude oil OSP for March

TEHRAN, Mar. 03 (MNA) – National Iranian Oil Company (NIOC) has set official selling prices (OSP) for Iranian crude oil in March, so that Iran’s light crude oil will be priced $4.35 above the benchmark price (Oman/Dubai crude) for Asian customers.

Iran’s GDP grows 3.1% in 9 months, fueled by oil sector

TEHRAN, Mar. 01 (MNA) – Iran's gross domestic product (GDP) grew by 3.1% year-over-year in the first nine months of the current Iranian calendar year 1403 (March 20–December 20, 2024), including oil.

Iranian oil supply to China in set to rebound in March 2025

TEHRAN, Mar. 01 (MNA) – China's imports of Iranian oil is set to rebound in March as non-sanctioned tankers, drawn by lucrative payoffs, joined the trade replacing vessels under US embargo, trade sources and analysts said.