Economy of Resistance: Production and Job Creation
2018 15 December Fa

PEDEC NEWS ARCHIVE

OPEC agrees joint 1.2mn bpd output cut despite US pressure

08 / 12 / 2018

TEHRAN (PEDEC) _ Member states of the Organization of the Petroleum Exporting Countries (OPEC) and 10 other oil producing nations have agreed to cut output by 1.2 million barrels a day despite opposition from US President Donald Trump’s administration. After two days of talks at the OPEC headquarters in Vienna, OPEC and non-OPEC countries, including […]

New NIOC CEO Appointed

19 / 11 / 2018

TEHRAN (PEDEC) _ Iranian Minister of Petroleum Bijan Zangeneh appointed Masoud Karbasian as the new CEO of the National Iranian Oil Company (NIOC) on Sunday. Earlier today, the official had issued a decree appointing Mr. Karbasian as a member of the company’s board of directors of four years. Karbasian has replaced Ali Kardor as NIOC […]

New Round of NIOC Oil Supply at IRENEX–$71.59/b

10 / 11 / 2018

TEHRAN (PEDEC) – National Iranian Oil Company (NIOC) has priced each barrel of crude oil at the Iran Energy Exchange (IRENEX) at $71.59. The figure was previously announced at $76.29. The oil will be offered at IRENEX on November 11. This time, each unit of purchased cargoes comprises 35,000 barrels, like the first offer, but […]

PEDEC Seals Deal with Domestic Firm to Construct Oil Storage Tanks

01 / 10 / 2018

TEHRAN (PEDEC) _ Iran’s Petroleum Engineering and Development Company (PEDEC) struck a BOT contract with a domestic firm for construction of 10-million-barrel crude oil storage tanks. The Build–operate–transfer (BOT) contract was signed on Sunday by PEDEC CEO Touraj Dehghani and Asghar Gorzin, CEO of Petro-Omid Asia, and Ahmad Ebrahimi, the managing director of Omid Investment […]

US zero exports target impossible in tight market

15 / 09 / 2018

TEHRAN (PEDEC) _ A senior Iranian oil official says the United States will fail to drive Iranian oil exports down to zero as the market is already tight and rival producers are not able to make up the shortfall. Iran’s OPEC governor, Hossein Kazempour Ardebili, told Reuters on Friday that a “supply shortage” showed that […]

West Karoun Output Keeps Rising

03 / 09 / 2018

TEHRAN (PEDEC) — Iran holds about 67 billion barrels of oil in place in the jointly owned oil fields in the West Karoun area. Until 2013, Iran was extracting nearly 50,000 b/d of oil from these fields which are shared with neighboring Iraq. But now Iran’s output has exceeded 300,000 b/d. In the current calendar […]

Sinopec says some refineries would be hit by a halt in Iran crude oil buying

01 / 09 / 2018

TEHRAN (PEDEC)- Huang Wensheng, vice president of the company formally known as China Petroleum & Chemical Corp,  said in the first public comment about Washington’s decision to resume sanctions on Iran that some of their downstream refineries were designed for refining Iranian oil and If they stop imports, the refineries will be negatively affected and […]

US up to sanction China for purchasing Iranian crude oil

18 / 08 / 2018

TEHRAN (PEDEC) _ The United States is prepared to impose sanctions on all countries that continue to buy Iran’s oil — including China — after Washington starts restoring bans on Iran’s energy sector. The announcement was made on Thursday by Brian Hook, the head of US State Department’s newly-established Iran Action Group, after he was asked […]

500MW Power Plant Planned in West Karoun

17 / 07 / 2018

TEHRAN (PEDEC) _ Development of jointly owned oil fields in the West Karoun area in western Iran remains a priority for the Iranian Ministry of Petroleum. Iran is currently recovering more than 350,000 b/d of oil from these fields, which is expected to reach 1.2 mb/d in coming years. A major requirement for reaching such […]

Russia Prepares for $50 Billion Investment in Iran’s Energy Industry

14 / 07 / 2018

TEHRAN (PEDEC) _ Russia is getting ready to invest US$50 billion in Iran’s oil and gas industry as the two countries continue to seek closer ties, just as the United States is looking to cut as much Iranian crude oil exports from the market as possible. “Russia is ready to invest $50bn in Iran’s oil […]

Iran: Saudis ‘disparage’ OPEC if increase oil output

04 / 07 / 2018

TEHRAN (PEDEC) _ Iran has strongly reacted to a purported plan by Saudi Arabia to increase its production of crude oil and says the alleged attempt would belittle the Organization of the Petroleum Exporting Countries (OPEC) which last week agreed to maintain supplies. Iran’s OPEC governor Hossein Kazempour Ardebili criticized the Saudi move which he […]

A Pars crude oil cargo exported to Europe

24 / 06 / 2018

TEHRAN (PEDEC) _ The first crude oil cargo from West Karun oil fields was exported from Bahregan port to a European country. 500’000 barrels of crude oil from this cargo, known as Pars Oil, were shipped by the MABROUK tanker from the Bahregan area. This operation was carried out with the planning and coordination of […]

Members Endorse Full Compliance with OPEC Output Cut Plan

23 / 06 / 2018

TEHRAN (PEDEC) — Members of the Organization of Petroleum Exporting Countries (OPEC), during the body’s 174th ordinary meeting in Vienna, endorsed Iran’s proposed model for boosting the group’s crude oil output, sticking to full compliance with OPEC’s output cut deal, Shana reported. The meeting came to an end on Friday with members reaching a consensus […]

PEDEC New CEO Appointed

13 / 06 / 2018

TEHRAN (PEDEC) _ Issuing an order, Ali Kardor, the managing director of NIOC, appointed Touraj Dehghani as chief executive officer and the main member of the board of directors of Petroleum Engineering and Development Company (PEDEC). Touraj Dehghani was previously a deputy director of PEDEC, member of the board of directors and supervisor of the […]

Iran to increase Oil Output from Azar, South Azadegan Oilfields

15 / 05 / 2018

TEHRAN (PEDEC) _ The CEO of the Petroleum Engineering and Development Company (PEDEC) says the company is planning to ramp up crude oil production from the joint Azar and South Azadegan oilfields during the current Iranian calendar year which began on March 21. Noureddin Shahnazizadeh said production of crude oil from South Azadegan will reach […]