The price of Iran’s heavy crude oil climbed by $5.88, or 9.2 percent, in June compared to May, reaching $69.13 per barrel, according to OPEC’s latest monthly report.
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The planning and development director of the National Petrochemical Company (NPC) said the petrochemical sector remains firmly committed to its pre-approved goals and is seriously pursuing the implementation of its programs.
Iran’s oil minister said Wednesday the country’s crude production and exports are ongoing and stable, though he declined to provide specific figures.
Iran's exports to African countries increased by 85% in Q1 2021, while its trade surplus with the continent surged by 113 percent, according to a senior official at the Trade Promotion Organization.
Iran's Supreme Economic Coordination Council emphasized preparedness and dignified living conditions amid war efforts. They approved major investments, including a National Development Fund plan to boost crude oil production and construct solar power plants.
The deputy CEO of the National Iranian Drilling Company reported a 78% drilling fleet productivity and a 9.1% reduction in standby time in Q1 due to domestic capabilities and centralized management.
Solar power plants with the capacity of 11.5 megawatts (MW) were put into operation in Khorasan Razavi province, in the northeast of Iran, on Monday morning.
Iran consumed more than 4.2 billion cubic meters (bcm) of natural gas across three major sectors—power plants, large industries, and residential, commercial, and small industries—during the week ending July 11.
The National Iranian Drilling Company (NIDC) has developed a comprehensive annual plan to overhaul and modernize seven drilling rigs as part of a broader strategy to enhance technical and specialized services across the country’s onshore oil and gas fields, a senior official said.
Iran's Supreme Economic Coordination Council, led by President Masoud Pezeshkian, has approved new financial incentives to encourage private sector involvement in renewable energy development, specifically solar panel purchases and installation.
The managing director of the National Iranian Drilling Company (NIDC) referred to the company's move towards domestic production of the equipment, and said: "One of the strategic priorities of the National Iranian Drilling Company is to increase the share of domestic manufacturing.”
In a message acknowledging the resilience and tireless efforts of oil industry workers during the days of the Zionist aggression, the president said the employees of this sector were frontline warriors who, under the most challenging conditions, courageously and dutifully fulfilled their mission of securing the country’s energy supply.
Iran's Energy Minister, Abbas Aliabadi, has announced a 100-megawatt renewable energy project, aiming for the total installed capacity to surpass 3,000 megawatts by March 2026.
The deputy chairman of the Iranian Parliament’s Energy Committee praised the efforts of oil industry workers during the 12-day war, stating that all refineries are currently operating at full capacity, with fuel transportation and distribution proceeding smoothly.
deputy CEO of the National Iranian Drilling Company (NIDC) announced a comprehensive plan to modernize its drilling fleet, localize equipment production, develop a national drilling engine, and repair and complete 150 oil wells by March 20, 2026.
The director of South Pars Gas Refinery No. 3 announced the start of a overhaul aimed at ensuring stable gas production during the cold season. The operation, carried out with extensive support from technical and maintenance teams, will last 28 days.
Iran recorded the highest increase in crude oil production among all countries in 2024, boosting its daily output by 374,000 barrels, while top producers like Saudi Arabia and Russia saw significant declines, according to the latest OPEC statistics.
The eighth refinery of the South Pars Gas Complex has begun a major overhaul, with more than 250,000 man-hours of work scheduled, according to the refinery’s director.
The managing director of the National Iranian Drilling Company (NIDC) said that purchasing 15 new drilling rigs for the oil and gas industry is on the agenda.
Oil Minister Mohsen Paknejad emphasized that aggression against energy-producing countries violates international law and threatens global stability, stating that the energy industry—particularly oil—requires peace and stability to fulfill its role in enhancing prosperity at national, regional, and global levels.