Tag Archives: National Iranian Oil Co. (NIOC)

An official with the National Iranian Oil Company (NIOC) said that the development project of South Pars Phase 11 would commence this Iranian calendar year (ending on March 20).

There was currently a supply glut in the global oil market which was caused by the US shale boom.

Despite the US sanctions. many countries. including China. still continue oil imports from Iran.

National Iranian Drilling Company (NIDC). a subsidiary of National Iranian Oil Company. has dug 124 oil and gas wells across the country during the past year. a senior official said.

New oil and gas reserves have been discovered in Iran since last year.

Iranian companies will replace foreign firms in major oil and gas projects of the country after some international contractors slowed down their activities under unilateral pressures from the US.

National Iranian Oil Company is set to grant the development project of the South Pars oil layer. in the Persian Gulf. to a domestic company. a senior official said.

South Pars is the world’s largest gas field.

National Iranian Oil Company will offer light crude oil at today’s session of Iran Energy Exchange (IRENEX).

Iran is now self-sufficient in supplying Euro-5 petrol.