Iran’s oil minister said Wednesday the country has no unsold crude stored offshore, adding that all oil shipments are planned in line with market conditions.
IRAN Feed Atom
Iran is set to begin importing premium gasoline to meet the needs of certain vehicles and balance supply and distribution in the domestic fuel network, the Oil Ministry announced.
Iran has begun registering privately owned gasoline vehicles, model year 2018 and newer, for free conversion to dual-fuel systems, the head of the National Iranian Oil Products Distribution Co. announced.
Iran's President Masoud Pezeshkian visited Armenia to strengthen bilateral relations in transport, infrastructure, and trade sectors, discussing strategic cooperation in transit corridors, regional connectivity, and economic partnerships.
The International Energy Agency reported that Iran’s crude oil production rose by about 200,000 barrels in July.
Cumulative gas production from Phase 11 of the South Pars development has climbed to 357 billion cubic feet, up from 120 billion cubic feet at the start of the 14th administration — a threefold increase.
The head of Iran’s National Petrochemical Company stressed the importance of encouraging downstream producers to manufacture environmentally friendly plastics, saying the approach must be a priority in the industry’s development plans.
member of Parliament’s Energy Committee of Iran praised the Oil Ministry’s performance in capturing associated petroleum gas, saying the 14th administration has taken effective steps to reduce the waste of this national resource.
The production and operations manager of Pars Oil and Gas Company announced the replacement of 32-inch main emergency shutdown valves (ESDVs) on South Pars Gas Platform No. 10 to enhance safety and production stability.
Iranian Oil Ministry source has denied reports suggesting that the country is grappling with an increasing stock of crude oil held afloat.
Iran’s Trade Promotion Organization (TPO) and the Iran Chamber of Guilds (ICG) signed a cooperation agreement aimed at harnessing the capacity of guilds to expand the country’s exports.
The NGL 3100 project is a significant step towards addressing the persistent and unsustainable flares in southern Iran, which could have been economically viable.
Oil Minister Mohsen Paknejad said Saturday that premium or special-grade gasoline is being introduced as a new service by the Oil Ministry and is not linked to fuel quotas.
The drilling operations for the first development well in a six-well project at the Yadvaran oil field have been completed using the Fat’h 92 drilling rig, announced the deputy CEO of National Iranian Drilling Company (NIDC) for drilling projects.
Asadollah Cheraghi, the representative of Dehloran, Darreh Shahr and Abdanan in Iran’s Parliament, said the national project to capture associated petroleum gas (APG) from oil fields in southern Ilam province is "lasting and highly valuable in all our minds."
President Masoud Pezeshkian said the government will provide any support possible to accelerate gas recovery projects, noting that the annual value of collected associated gas is estimated at $700 million.
Foreign Minister Abbas Araghchi says Iran is actively collaborating with China and Russia to prevent the reactivation of UN sanctions through the so-called “snapback” mechanism threatened by European countries.
Steel and petrochemicals are expected to account for 50 percent of the objectives set under Iran’s free trade agreement (FTA) with the Eurasian Economic Union (EAEU), Iranian officials said, highlighting the sectors’ pivotal role in boosting exports and activating trade opportunities in the region.
Iran plans to raise its nominal petrochemical production capacity by 35 million tons to 131.5 million tons a year by the end of its Seventh National Development Plan (2022- 2027) through 66 expansion projects, a senior official said, targeting an average annual growth of eight percent.
Iran’s oil production fell slightly in July as output continued to suffer from the impacts of a war of aggression the country fought with the Israeli regime in June, and despite a general rise in production by members of the Organization of the Petroleum Exporting Countries (OPEC).