The US on Thursday imposed new sanctions on entities and vessels linked to Iran’s oil industry, stepping up pressure on Tehran just days before talks between the two countries in Oman.
IRAN Feed Atom
Iran plans to expand its petrochemical production capacity by 9.0 million tons in the current Iranian year (ending March 2026), according to the head of the National Petrochemical Company (NPC).
The CEO of South Pars Gas Complex (SPGC) has emphasized the importance of a flaring reduction project as a key initiative for the year 1404 (2025-26).
Iran’s oil minister announced a meeting with foreign ambassadors next week, emphasizing that Iran welcomes foreign countries—especially neighboring nations—to invest in its oil industry.
Iranian President Masoud Pezeshkian said that his administration is committed to supporting investment in renewable energy, unveiling incentive packages aimed at encouraging private and public sector participation in the sector.
The CEO of Karoun Petrochemical Company announced a 17.4% increase in production in 2024 compared to 2023.
The commercial manager of the South Pars Gas Complex (SPGC) announced the localization of approximately 11,700 goods and equipment, stating that this initiative aims to strengthen domestic production, reduce reliance on imports, and support Iranian manufacturers in line with the year’s slogan.
The CEO of Petroleum Engineering and Development Company (PEDEC) emphasized investment as the key prerequisite for realizing new oil and gas production capacities and stressed the need for active private sector participation.
The National Iranian Oil Company (NIOC) is set to host an event this spring aimed at transforming investment and development in Iran's upstream oil and gas sector.
The National Iranian Oil Refining and Distribution Company (NIORDC) has announced that the South Adish and Mehr Persian Gulf refineries will be operational by the end of this year.
NIDC CEO announces $800 million investment from Iranian Oil Company for 15 onshore drilling rigs, with $200-$300 million from forex reserves for ancillary equipment.
Iran's government is promoting Compressed Natural Gas (CNG) to reduce gasoline dependency and improve air quality, but challenges like weak policies and funding priorities hinder its full potential.
The National Iranian Oil Company (NIOC) has set Iran’s April crude oil prices, with Iran Light crude for Asian customers priced about $4 above the Oman/Dubai benchmark.
Iran has brought the eighth well of Platform B in Phase 11 of the South Pars gas field into production, adding approximately 3.0 million cubic meters per day (mcm/d) to the country’s natural gas output, according to the head of Petropars Group.
The CEO of the National Petrochemical Company (NPC) stated that unfinished petrochemical projects must be reviewed, adding that lawmakers have set a deadline of late September 2025 to resolve their status.
The Iranian Oil Minister expressed confidence that the OPEC+ Joint Ministerial Monitoring Committee (JMMC), using its experience in accurately assessing market developments, will help member countries play an active, accurate, and prudent role in the oil market.
National Iranian Oil Refining and Distribution Company has increased gasoline production at the Isfahan refinery by two million liters per day, according to the company’s head.
The United States has imposed a new round of sanctions targeting the independent Shouguang Luqing refinery in China, which imports up to 60,000 barrels of Iranian crude oil per day.
Iran's gas industry achieved 95% national gas coverage in 2024-2025, despite challenges, through infrastructure expansion, international agreements, and innovative technologies like smart meters and domestic turbines.
Abadan Oil Refining Company CEO reports a 3-million-liter increase in gasoline production under the 14th administration, accounting for 17% of the country's gasoline, 22% of diesel, and 42% of mazut.