heavy crude fell $1.63 to $69.18/b in Aug as OPEC output jumped 478k bpd to 27.95m. Iran’s output slipped 27k to 3.22m bpd; OPEC+ to lift quotas in Oct amid steady demand outlook.
IRAN Feed Atom
President Masoud Pezeshkian has emphasized the need for Iran to reduce reliance on oil revenues and unlock the full potential of domestic talent and industry.
Armenian Economy Minister Gevorg Papoyan expressed his country’s interest in importing Iranian liquefied petroleum gas (LPG), calling it a basis for long-term, mutually beneficial cooperation that would strengthen Armenia’s energy security.
Iran’s South Pars Gas Complex produced more than 65 billion cubic meters of sweet gas and 79 million barrels of gas condensate in the first five months of this year, ensuring a stable energy supply for the coming cold season, managing director Gholam Abbas Hosseini announced.
The managing director of Iran’s National Petrochemical Company (NOC) said the country’s polymer production capacity is planned to reach 16 million tons.
Iran has connected 54 megawatts of newly built 3-megawatt solar power plants to the national grid, a move expected to save the equivalent of 26 million cubic meters of liquid fuel in thermal power generation, project executor Mohammad Doust-Mohammadi announced.
Persian Gulf Petrochemical Industries Co. CEO emphasizes the industry's economic significance and its progress in reducing raw material sales and producing diverse products through development projects.
Oil production from the Nowruz field has increased by 1,500 barrels per day following the completion of a complex offshore power cable operation, according to an Iranian offshore oil company official.
Iran's Pars Oil and Gas Company has commissioned the ninth well at Phase 11 of the South Pars gas field, increasing its daily gas production capacity to over 22 million cubic meters.
The 19th IRAN PLAST 2025 exhibition, attended by senior officials, executives, and industry representatives, opened at Tehran's Permanent International Fairgrounds.
The production capacity of polymer products is projected to reach 16 million tons by the end of Iran's Seventh Development Plan (2028), according to the CEO of the National Petrochemical Company.
first petrochemical contract for the development of gas fields will be ratified soon, the CEO of the National Iranian Petrochemical Company said Monday.
Iran's Commercial Attaché in Kazakhstan reported a rise in exports compared to imports in the first three months of the current Iranian calendar year.
The project manager for the development of the Sepehr and Jofeir oil fields announced that the fourth drilling rig, named "MAPNA Nour-2," has begun operations to accelerate progress on the national development project.
The capacity of Iran’s petrochemical industry is set to jump by 35 million tons, reaching 131.5 million tons by the end of the Seventh Development Plan through the completion of 66 projects. This growth will not only expand output but also significantly enhance Iran’s global position in the sector.
Ayatollah Seyyed Ali Khamenei, the Leader of the Islamic Revolution, stressed the need to modernize Iran’s oil industry by utilizing the expertise of young graduates to replace outdated methods and equipment, according to khamanei.ir.
The CEO of Isfahan Oil Refining Co. said Thursday that the refinery has completed a project to upgrade kerosene from Euro-2 to Euro-5 standards, adding that the current unit has a daily capacity of 19,000 barrels with potential for expansion.
The head of the Department of the Environment stated that the country's petrochemical industry has recognized the inevitability of moving towards environmental conservation.
The head of the policy council for the conference “Plastic Pollution Crisis: New Challenges and Opportunities” stressed the need for a national roadmap to strengthen Iran’s position in petrochemical industry development while protecting the environment.
Iran produced 32 million tons of petrochemical products in the first five months of the current Iranian year to late August, with 13 million tons worth $5.5 billion exported, the head of the National Petrochemical Company (NPC) said.