Iranian heavy oil price increased $4.96 in June to register a 7.4-percent rise compared to the previous month, according to OPEC’s latest monthly report published on Thursday. Iranian heavy crude oil price followed its upward trend since the beginning of the current year to reach $71.68 per barrel in the …
Read More »Iran, Oman Determined to Boost Trade Ties
Iran shares borders with fifteen countries, namely the United Arab Emirates (UAE), Iraq, Turkey, Afghanistan, Pakistan, Russia, Oman, Azerbaijan, Turkmenistan, Kuwait, Qatar, Kazakhstan, Armenia, Bahrain, and Saudi Arabia. Expansion of trade with these neighbors, specially increasing non-oil exports to them, is one of the major plans that the Iranian government …
Read More »No Decision Yet on Extending or not Extending Monitoring Agreement with IAEA
The Iranian Foreign Ministry announced on Monday that still no decision has been taken to extend or not to extend monitoring deal with the International Atomic Energy Agency. “Still no decision has been taken about agreement or no agreement, or how to continue or not to continue cooperation with the …
Read More »Iran Won’t Give Data Recordings to IAEA
Iranian Parliament Mohammad Baqer Qalibaf has announced that Iran’s three-month deal with the UN nuclear watchdog has expired and thus Iran won’t give its data recordings to the UN body. Qalibaf made the remarks in response to a question from a lawmaker on the latest developments regarding the deal between …
Read More »Iran Implements Project for Injecting Gas Condensate into Oilfield for 1st Time
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 …
Read More »Indigenizing SP Phase 14 Special Parts Manufacturing Saves Iran $170m
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 …
Read More »Iran will Return to Oil Market as soon as Sanctions are Lifted
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 …
Read More »Non-Oil Exports from Arvand Free Zone Stands at $61m in 1.5 Months
Non-oil products worth $61 million were exported from Arvand Free Trade Zone (FTZ), in Iran’s southwestern province of Khuzestan, during the 1.5-month period since the beginning of the current Iranian calendar year (March 21), according to a provincial official. Seyed Ali Mousavi, the deputy head of Arvand Free Zone Organization …
Read More »Iran to Use $125m of Assets Held in Iraq to Buy Covid-19 Vaccines
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 …
Read More »IOOC Implements New High-Tech EOR Pilot Project
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 …
Read More »