Economy of Resistance: Production and Job Creation
2017 23 July Fa

OIL NEWS ARCHIVE

Russians to Perform Survey on Two Southern Oil Fields

23 / 07 / 2017

TEHRAN (NIOC) _ The National Iranian South Oil Company (NISOC) and Russia’s Zarubezhneft have signed a memorandum of understanding to develop two oil fields in southwest Iran. The agreement allows the state-run Russian company to conduct technical surveys on Shadegan and Rag Sefid fields in Khuzestan Province. NISOC Managing Director Bijan Alipour, who signed the […]

Eni says Not Challenging with Total in Iran

23 / 07 / 2017

TEHRAN (NIOC) _ Right after France’s Total has signed a 5 billion dollars gas deal with the National Iranian Oil Company (NIOC) earlier this month, Italy’s energy giant, Eni, is keeping its foot on the ground in Iran. Eni CEO Claudio Descalzi stated that his company is not in a competition for presence in Iran, […]

Iran, Japan’s Toyo Signs Deal to Boost Output At Offshore Field

18 / 07 / 2017

TEHRAN (PEDEC) _ The National Iranian Oil Company (NIOC) signed on Monday a Memorandum of Understanding (MoU) with a consortium that includes Japan’s engineering group Toyo to revamp the facilities and upgrade gas production at the Salman field in the Persian Gulf. Iranian company Petropars is also part of the consortium. Based on the MoU, […]

South Korea’s Iran Crude Imports for June up 10.5 % year-on-year: Reuters

17 / 07 / 2017

TEHRAN (PEDEC) _ South Korea imported 1.2 million tonnes of crude oil from Iran in June, up 10.5 percent from a year ago, preliminary data from Korea Customs Service showed on Saturday. That is equivalent to 8.4 million barrels, according to a Reuters calculation. The world’s fifth-largest crude buyer imported a total 11.6 million tonnes […]

Intl. Firms Negotiate $200 Billion of Oil Deals in Iran

15 / 07 / 2017

TEHRAN (PEDEC) _ Asian and European companies are negotiating participation in Iran’s oil and gas development projects which need $200 billion worth of investment, Minister of Petroleum Bijan Zangeneh says. Iran looks to absorb 65% to 70% of this sum from abroad, the minister told Iran’s Parliament where he was to answer questions about a […]

West Karoun Oil Field Production Reach 368000 bpd:Official

10 / 07 / 2017

TEHRAN (PEDEC) _ Iran currently produces 290’000 barrels of crude oil per day, the figure which is going to witness an increase of 78000 barrels bpd, the managing director of Iran’s Petroleum Engineering and Development Company (PEDEC), Noureddin Shahnazizadeh said. Holding a press conference for the latest achievement of the West Karoun oil fields, Shahnazizadeh […]

22nd World Petroleum Congress Kicks off in Istanbul

10 / 07 / 2017

TEHRAN (PEDEC) _ The 22nd World Petroleum Congress (WPC), the largest meeting of the oil and gas industry starts on July 9, with a high-level official opening ceremony at the Istanbul Convention Center (ICC) under the auspices of the Presidency of the Republic of Turkey. With the theme of the Congress “Bridges to our energy […]

Iran looking at Total for LNG exports to EU

01 / 05 / 2017

Iran’s petroleum minister has hinted that the country is looking into the possibility of bringing in the French energy giant Total to develop a key project to liquefy natural gas for exports to Europe. Bijan Zanganeh told reporters that serious talks with Total were underway over the development of Phase 11 of Iran’s South Pars […]

MOL Willing to Participate in Iran’s Oil, Gas Sector

30 / 04 / 2017

Hungary’s state-owned oil and gas group MOL is willing to help raise the rate of recovery from Iran’s onshore and offshore oilfields with the help of the enhanced oil recovery (EOR) techniques. Amirhossein Zamaninia, deputy oil minister for international affairs, made the statement after talks with MOL deputy chief executive officer, Berislav Gaso, late on […]

Russia says cut oil production by 300,000 bpd

29 / 04 / 2017

Russia says it has cut its production of crude oil by around 300,000 barrels per day (bpd) as part of an agreement with world’s oil producers to shore up global prices. The announcement was made by Russia’s Energy Minister Alexander Novak. Novak told the domestic media that the country’s oil production in the latest record […]

OPEC Secretary-General Participates in 3rd GCC Petroleum Media Forum

25 / 04 / 2017

OPEC Secretary-General, Mohammad Sanusi Barkindo and his accompanying delegation, took part in the 3rd GCC Petroleum Media Forum held in Abu Dhabi on 19th and 20th April under the auspices of President His Highness Sheikh Khalifa bin Zayed Al Nahyan. Mr. Barkindo delivered a keynote speech at the forum in which he reviewed the achievements […]

Next OPEC Meet Crucial for Oil Market Stability

24 / 04 / 2017

The global energy industry has its eyes set on the next month’s crucial meeting between Opec and oil producers outside the organisation, as a global pact to cut production is very much on the cards. The Organisation of the Petroleum Exporting Countries (Opec), Russia and other producers agreed to cut production by 1.8mn barrels per […]

SOCAR Boosts Caspian Resources Output

23 / 04 / 2017

Azerbaijan’s state-run oil company SOCAR will produce another 43,800 tons of oil and around 3.65 million cubic meters of gas per year after it commissioned a new well on the Guneshli offshore field in the Caspian Sea. The daily production from the well is 120 tons of oil and 10,000 cubic meters of gas, Socar […]

Italy’s refiner Saras clears all oil debt with Iran

22 / 04 / 2017

Key Italian oil refiner Saras says it has cleared all the debt it owed Iran for oil purchased before sanctions were imposed against the country in 2012. Saras General Manager Dario Scaffardi was quoted by Reuters as saying that the debt – which amounted to €400 million – had been cleared in the first quarter […]

Barkindo: OPEC, Non-OPEC Committed to Restore Market Stability

20 / 04 / 2017

OPEC Secretary-General Mohammad Barkindo said on Wednesday that all oil producers taking part in a supply-cut pact are committed to bringing global inventories down to the industry’s five year average and restoring stability to the market. Barkindo, speaking in the United Arab Emirates, said compliance data in March is showing better conformity by the oil […]