Energy Economy

Iranian Offshore Oil Company (IOOC), in collaboration with the National Iranian Tanker Company (NITC), has started implementing a project for injecting gas condensate into Soroush oil field in the Persian Gulf to maintain its production level. In this project, which is being implemented for the first time in the history …

Indigenizing the technology for the manufacturing of some special parts and equipment in the implementation of the development project of the phase 14 of Iran’s South Pars gas field has saved the country $170 million, head of the Industrial Development and Renovation Organization of Iran (IDRO) announced on Tuesday. Making …

Iranian Oil Minister Bijan Namdar Zanganeh has said Iran is ready to return to the oil market as soon as the nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) is revived and the U.S. sanctions are lifted, Shana reported. Zanganeh made the remarks after attending the 17th …

Tehran can increase its oil production to 6.5 million barrels per day, more than double the current volume without any problems, Bijan Zanganeh, the Iranian oil minister, said on Monday as published by the ministry’s Shana portal. US Imported Oil Twice From Iran in Last Two Quarters Despite Sanctions, EIA …

Iranian Energy Minister Reza Ardakanian, who is the chairman of the Iran-Iraq Joint Economic Committee, has said Iraq is going to transfer $125 million of its energy dues to Iran to a European bank to be paid for 16 million COVAX Covid-19 vaccines. “The necessary license has been issued to …

Iraq was reported to be Iran’s second biggest non-oil export destination for the period from 21st March to 21st May. Mehdi Mir-Ashrafi, the head of the Islamic Republic of Iran Customs Administration, is quoted as saying that Iran exported $2 billion worth of non-oil exports to China over that time, …

Kazem Gharibabadi, the Iranian Ambassador to International Organisations in Vienna, says Tehran has informed the International Atomic Energy Agency (IAEA) of its decision to extend an earlier deal with the UN’s nuclear watchdog for one more month at most. According to Gharibabadi, the IAEA cameras will be allowed to continue …

Iranian Offshore Oil Company (IOOC) has implemented a pilot enhanced oil recovery (EOR) project in which a nanofluid has been injected into an oilfield in southern Iran for the first time to boost its recovery factor. The high-tech project was unveiled in a ceremony attended by officials from IOOC, the …

Managing director of the National Iranian Oil Company (NIOC) has announced the beginning of oil transfer operation through Goreh-Jask pipeline which is laid from Goreh oil terminal in the southwestern Bushehr Province to Jask oil terminal along the Gulf of Oman. Masoud Karbasian made the announcement on the sidelines of …

Head of Iran’s Customs Administration (IRICA) Mehdi Mir-Ashrafi said that the country exported $5.6 billion worth of non-oil goods and commodities to foreign countries from March 21 to May 15, 2021, showing a 46% rise compared with the same period last year. Mir-Ashrafi said that some 15.5 million tons of …