Pars Oil and Gas Company has brought a third new offshore drilling rig into Iran’s territorial waters despite international restrictions, raising the number of rigs active on the company’s projects to 13.
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Amir Moghiseh, National Iranian Oil Company’s director of investment and business, said NIOC has signed a feedstock sales contract with the Dehloran petrorefinery for 240 million cubic feet of gas a day — a deal that guarantees investor returns and supports 1,000 direct and 3,000 indirect jobs in the underdeveloped region.
An integrated production services (IPS) contract between the Oil Exploration Operations Company and Dasht Azadegan Arvand Oil and Gas Development Engineering has opened a new phase of cooperation on conservation production and higher recovery at Iran’s Azadegan oil field.
A domestically manufactured separation decanter in the high-density polyethylene (HDPE) unit at Bandar Imam Petrochemical has entered production for the first time at the complex, after installation, commissioning, and operating tests were completed successfully.
The head of District 6 of Iran’s gas transmission operations said more than 10 pipeline and compressor-station projects are under way to strengthen the network and supply gas to industry, power plants, and refineries in Hormozgan and Kerman provinces.
The commander of U.S. Central Command said Saturday that the United States has facilitated the shipment of “one billion barrels” of crude in recent months, even as Washington continues to draw on its Strategic Petroleum Reserve to cover a global oil shortfall.
The chief executive of the National Iranian South Oil Company said support for education and students is part of the oil industry’s approach to sustainable development and neighboring communities, adding that more than 6 trillion tomans in social-responsibility projects have been carried out in Iran’s southern oil-producing regions since the start of the 14th government.
The head of the Oil Industry Technology and Innovation Park said Iran has revised the contract model for reviving low-yield oil wells, with more financial support from the Oil Ministry, lower risk for technology companies, easier access to well data, and no cap on the number of wells that can be assigned.
Tabriz Petrochemical received the golden statue at the ninth national conference honoring prominent figures in Iran’s industry and economy.
The CEO of the South Pars Gas Complex said the facility’s refineries are fully prepared to keep winter gas flowing and are making maximum use of Iranian knowledge-based companies.
An informed U.S. source said China’s imports of Iranian oil — or oil that may belong to Iran — have dropped to 440,000 barrels a day.
Brent crude futures dropped $1.65, or 1.6%, to $103.17 a barrel. U.S. West Texas Intermediate (WTI) futures fell 61 cents, or 0.6%, to $101.30 a barrel.
Ahdaf Investment Group has taken three of the five board seats at Persian Gulf Petrochemical Industries Company for the first time, after an extraordinary general meeting of the Iranian petrochemical holding.
The governor of South Khorasan Province said the Nehbandan–Sarbisheh gas transmission line in Iran is more than 80% complete and will enter service before winter.
Mehrdad Bazrpash, Iran’s minister of roads and urban development in the 13th government, said the Hormuz shock is no longer confined to oil and that the effects of the war have now reached the price of money.
Two heavy reactors have been successfully installed at Lavan Petrochemical in Iran by Faragostar Pars, a subsidiary of the specialized marine holding of Khatam al-Anbiya Construction Headquarters.
Global liquefied natural gas (LNG) prices could rise sharply this winter as European gas inventories sit at their lowest levels in years and buyers in North Asia compete more aggressively for cargoes. The Strait of Hormuz also remains closed because of the U.S. war with Iran.
The Sept. 10 attacks on Saudi Arabia’s East-West pipeline hit several parts of the system and damaged at least one pump station, forcing Riyadh to shut a vital Hormuz bypass.
Brent crude futures fell $2.67, or 2.5%, to $103.13 a barrel. U.S. West Texas Intermediate (WTI) futures dropped $1.61, or 1.6%, to $100.82 a barrel.
Ilam Gas Refinery has used vacuum thermal reclaiming to recover spent MDEA amine solvent at about 80% efficiency, cutting the need to import fresh solvent and keeping heat-stable salts in circulating amine under control.