Economy of Resistance: Production and Job Creation
2018 23 January Fa

OIL NEWS ARCHIVE

Daily production of 10,000 barrels from South Yaran stabilized

08 / 01 / 2018

Daily production of 10,000 barrels from South Yaran stabilized TEHRAN (PEDEC) _ Executive manager of South Yaran development plan stated: “currently 10,000 barrels of oil are produced per day out of 6 wells in the field, and drilling, driving courses of 12 pipe wells are also ready for completion, and there is also pipeline installation […]

Iran-Iraq Oil Swap Deal To Run For a Year

12 / 12 / 2017

TEHRAN (PEDEC) _ Iraqi Oil Minister Jabar al-Luaibi said on Sunday that a deal signed with Tehran to swap up to 60,000 barrels per day of crude produced from the northern Iraqi Kirkuk oilfield for Iranian oil is for one year and subject to renewal. The agreement signed on Friday by the two OPEC countries […]

Iran signs oil swap deal with Iraq soon

03 / 12 / 2017

TEHRAN (PEDEC) _ Iran expects to sign a contract with Iraq within the next few days based on which it would swap the country’s oil produced in its Kirkuk province with equal amounts in the Persian Gulf. The announcement was made by Iran’s Petroleum Minister Bijan Zangeneh who said the agreement would be a strategic […]

US firms are the biggest losers from sanctions: Official

02 / 12 / 2017

TEHRAN (PEDEC) _ Iranian oil minister declared that energy-related firms from the U.S. are the main losers from the sanctions placed against his country. Speaking at the OPEC meeting in Vienna Thursday, Iran’s Oil Minister Bijan Zangeneh, said the policy was both confusing and self-defeating. “I don’t understand why U.S. companies cannot enter the Iranian […]

Majority of OPEC members support extending oil output cuts: Minister

21 / 11 / 2017

TEHRAN (PEDEC) – Iran’s oil minister said on Monday that a majority of OPEC members support extending output cuts but a final decision will be taken at their next meeting on Nov. 30. The Organization of the Petroleum Exporting Countries together with a group of non-OPEC producers led by Russia has reduced output since January […]

Merely UNSC sanctions can be able to force Total out: Minister

20 / 11 / 2017

TEHRAN – (PEDEC) – Irans petroleum minister has stated that French energy giant Total – that has won a deal to develop a key gas project in the country – can quit only if forced to do so as a result of sanctions by the UN Security Council. Bijan Zanganeh said that deal determined the […]

NIOC, Gazprom sign LNG deal

11 / 11 / 2017

TEHRAN (PEDEC) – Russia’s gas giant, Gazprom signed a initial agreement with the National Iranian Oil Company (NIOC) that visualizes cooperation over the production of liquefied natural gas (LNG). As the official website of Gazprom announced, this would be part of a larger plan for cooperation that concentrates on the development of Iran’s gas fields […]

Total to conform to any US sanctions on Iran: CEO

05 / 11 / 2017

TEHRAN (PEDEC) – Total has opened an office in Washington to coordinate its operations in Iran where the French oil and gas major plans to develop Phase 11 of the giant South Pars gas field. On Thursday, Total CEO Patrick Pouyanne stated that his company would comply with any sanctions on Iran. Iranian officials, he […]

Asian imports of Iranian oil hit highest in six months

01 / 11 / 2017

TEHRAN (PEDEC) – Imports of Iranian crude by major buyers in Asia rose in September for a third straight month to their highest since March, boosted by a surge in purchases in China and South Korea. China, India, South Korea and Japan imported slightly more than 1.9 million barrels per day (bpd) last month, up […]

Iranian crude exports to Russia to start soon: Oil Minister

29 / 10 / 2017

TEHRAN (PEDEC) _ Iran’s crude oil exports to Russia under an oil-for-goods barter scheme will begin “in the near future,” Deputy Minister of Petroleum Ali Kardor said on Saturday. He said banking problems related to the exports of Iranian oil to Russia had been resolved, making it possible to open letters of credit (LCs). Iranian and Russian officials […]

Yadavaran oil production more than 100 mln bpd

25 / 10 / 2017

TEHRAN (PEDEC) _ The production of oil at the joint Yadavaran field reached 100 million and 60 thousand barrels. Noting the first phase of the development on the daily production basis of 85,000 barrels of oil in the field, Hadi Nazpour, the project manager of Yadavaran oil field development stated that about 112,000 barrels of […]

Iran oil exports record 8-month rise

14 / 10 / 2017

TEHRAN (PEDEC) _ Market figures show Iran’s exports of crude oil have reached the highest level since February. Figures released by Bloomberg show that Iran shipped 2.28 million barrels a day (mb/d) of crude oil to international markets in September. The rise came as Iran – together with Iraq that exported 3.98 mb/d last month […]

Iran’s exports steady as US aims at oil profits

08 / 10 / 2017

TEHRAN (PEDEC) _ Iran exported 2.25 million barrels per day (bpd) of crude oil to customers in Asia and Europe in September, data released by the Ministry of Petroleum showed on Saturday. The country also shipped 430,000 bpd of condensate to its clients in Asia where South Korea alone took half of the cargoes of […]

IEA named Iran world’s third largest natural gas producer

25 / 09 / 2017

TEHRAN (PEDEC) _ Iran has been named the world’s third largest natural gas producer in 2016, the International Energy Agency (IEA) said in its latest. 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 […]

Iranian crude oil exports mounting as joint fields get a boost

23 / 09 / 2017

TEHRAN (PEDEC) _ Iran’s crude oil production is more than 3.8 million barrels per day, which according to plans will rise to 4.96 million by the end of the year (in March 20, 2018), Managing Director of the National Iranian Oil Company (NIOC) Ali Kardor said. Further increases in production capacities will occur in the […]