Energy Economy

The National Oil Corporation (NOC) announced the completion of the implementation of a vital strategic project to increase the supply of natural gas to the local market, and the project of sending a scrapers unit to the Sirte company for oil and gas production. The NOC said that it had …

The managing director of the National Iranian Oil Company (NIOC) has said vast exploration operations are underway on 140,000 square kilometers of offshore and onshore hydrocarbon reserves to discover new deposits, Shana reported. “Domestic firms, including the National Iranian South Oil Company (NISOC), NIOC’s Exploration Department, and the Oil Industry …

The National Iranian Oil Company (NIOC) managing director on Friday said the country, thanks to its present-day reserves, can produce oil and gas for the next 100 years. Mohsen Khojastehmehr made the remarks in his speech during a ceremony to commemorate the 115th anniversary of Iran’s first oil exploration in …

The value of non-oil trade exchanges between Iran and China has reached $5.23 billion in January-April, 2023, according to figures by the Chinese customs office. Trade between Iran and China had increased by 4% in value terms in January-April compared to the same period last year, the figures showed. The …

Announcing that $12 billion worth of semi-finished oil and gas projects have been completed in the last Iranian calendar year (ended March 20, 2023), Iran’s oil minister said that Phase 11 of the South Pars Gas Field will be put into operation within the next three months. Speaking in a …

Tehran and Moscow have made progress regarding the participation of Russian companies in new oil and gas projects in Iran, Russian Deputy Prime Minister Alexander Novak said during talks with Iranian Oil Minister Javad Owji. “We are implementing projects to develop oil fields in Iran and have outlined new projects, …

Iranian Oil Minister Javad Owji said on Saturday that Tehran and Baghdad have agreed to extend the gas export contract for five years. The oil minister, who is on a visit to Baghdad, made the remarks following a meeting with Iraq’s Minister of Electricity Ziad Ali Fazel, saying that the …

Technical planning for the development of the Iranian Arvandkenar oilfield near Iran-Iraq border has begun, IRNA reports citing Arvandan Oil and Gas Company CEO Abdollah Azaari Ahvazi. Ahvazi told IRNA on Sunday that the company will develop the Arvandkenar oilfield, located at the southern tip of the region West Karoun. …

Managing director of the National Iranian Oil Company (NIOC) said Iran’s export of oil has doubled in the administration of President Ebrahim Raisi in spite of tough sanctions imposed against the country. Mohsen Khojastehmehr made the comment during a visit to Kharg Island, adding that the oil exports have doubled …

According to the statistics office of the European Union (Eurostat), Iran exported 1,567 billion cubic meters of natural gas to Turkey in the first quarter of 2023. The figure has dropped by 17% compared to the same period in 2022. Iran exported 1,891 billion cubic meters of gas to Turkey …