Oil & Gaz

Iran, South Africa eyeing GTL project

Iran says it has started talks with South Africa over a strategic project to produce fuel from natural gas – a project that South Africa’s chemicals firm Sasol was pursuing in the Islamic Republic but later had to abandon as a result of sanctions. 


Indonesia replacing Saudi LPG with Iran imports

Indonesia is expecting to increase liquefied petroleum gas (LPG) imports from Iran, director general of oil and gas at the South Asian country’s Energy and Mineral Resources Ministry, Wiratmaja Puja, says. 

Iran says it ‘understands’ Total’s concerns

Iran says it understands why Total had to delay a decision to go ahead with the development of a key gas project in the country until the position of the new US administration toward foreign investments in the Islamic Republic is known. 

Iran may award Kish deal to Shell

Iran says it may start negotiations with global energy giant Shell over the development of Kish gas field which holds the country’s largest reservoirs of natural gas after South Pars.  

Iran hails OPEC compliance with output cuts

Iran has described OPEC’s level of compliance with production cuts in January as satisfactory with the country’s oil minister saying he expects more cooperation – not only from OPEC member states but also non-member producers - to cut output and help stabilize the market.    

US firms shut out of Iran oil tenders

US companies stand no chance of participating in bidding for Iran’s oil fields which the country plans to develop with international help, a senior official says. 

Iran announces major oil, gas discoveries

Iran has confirmed the discovery of 15 billion barrels of new in-place oil reserves, but a top official says huge investments and state-of-the-art technology are required to exploit those reserves.  

Iran to construct 12 new oil refineries

Iran has begun the construction of 12 oil and gas condensate refinery complexes, said director of corporate planning and member of the board of directors of the National Iranian Oil Refining and Distribution Company (NIORDC) on Wednesday.

Total sets Iran energy investments in motion

Signs have emerged that France’s Total has already set in motion its plans to develop Iran’s energy projects – what could embolden other global giants that are still uncertain about the prospects for making investments in the country.

OMV, Dana Energy sign cooperation deal

Austria’s energy giant OMV says it has signed a basic agreement with Iran’s Dana Energy to cooperate in the Iranian oil and gas development projects.  

OMV, Dana Energy sign cooperation deal

Austria’s energy giant OMV says it has signed a basic agreement with Iran’s Dana Energy to cooperate in the Iranian oil and gas development projects.  

Naphtha export brings Iran closer to milestone

Iran has sold its first consignment of naphtha produced at the Persian Gulf Star Refinery to the UAE as the countdown nears for the operation of the world’s largest condensate refinery. 

Russia gets multibillion-dollar Iran projects

Russian companies are about to build a power plant and enhance generation at another in Iran in a contract worth several billion dollars, an Iranian deputy energy minister says. 


Russia gets multibillion-dollar Iran projects

Russian companies are about to build a power plant and enhance generation at another in Iran in a contract worth several billion dollars, an Iranian deputy energy minister says. 

Iran expects to sell $41bn of oil, condensate

Iran’s Oil Minister Bijan Zanganeh says the country’s overall sales of crude oil and condensate will reach as high as $41 billion by the end of the current Iranian calendar year (21 March 2017). 

S Koreas oil imports from Iran up 8 times

Official figures show South Korea’s imports of oil from Iran last December soared about eight times greater than a year ago – what may be a yet another indication that the Islamic Republic is getting a stronger position in the global oil market in a post-sanctions era. 

Saudi oil output at lowest level in 2 years

Saudi Arabia says it has reduced its oil production to less than 10 million barrels a day (mb/d) – the lowest level in two years – in line with a drive by the Organization of the Petroleum Exporting Countries (OPEC) to eradicate a global glut and prop up prices. 


Proven shale oil reserves found in western Iran

A significant amount of proven shale oil reserves have been discovered in Lorestan Province in western Iran, announced the director of research and management at the Oil Ministrys Exploration Technology Center.

Iran says ready to export gas to Iraq

Iran says it is ready to proceed with a much-awaited project to export natural gas to Iraq as soon as Baghdad takes measures to make the related payments.

Iran’s daily oil production near 4mn barrels

Iran says its production of oil has reached around 4 million barrels per day (mb/d) – a yet another indication that the country is regaining its crude production abilities after multiple years of sanctions.


Iran says Inpex tipped to win Azadegan

Japans largest oil and gas exploration and production company is reportedly trying to win a contract over the development of a major oil project in Iran that it abandoned in 2010.

Iran to sue Turkmenistan over gas dispute

The row between Iran and Turkmenistan over outstanding debts for previous natural gas sales is taking to new highs with Tehran saying it plans to sue Ashgabat for turning off the taps. 

Iran reports higher oil sales to BP, Shell

Iran says it has increased its sales of crude oil as well as condensate – a type of very light crude produced from gas fields – to global energy giants Shell and BP. 

Iran unyielding as gas dispute widens

A bitter dispute between Iran and Turkmenistan over gas prices risks the cancellation of a major deal, which could see the Central Asian nation lose its biggest customer.

Iran eyeing new oil awards to giants

Iran says it expects to award at least 10 new contracts for the development of oil and gas projects to international energy companies in the near future. 


Malaysia’s Petronas to study Iranian oil fields

Malaysia’s Petronas has signed an agreement to study two Iranian oil fields – the latest in a wave of similar agreements that the country is awarding international energy giants over its most lucrative oil projects.


Italy’s Eni starts buying Iran’s oil

Iran says Italy’s energy giant Eni has started to purchase crude oil from the country – a move that could lead to a re-establishment of relations between the two sides after the removal of sanctions.

Iran to stop gasoline imports in 2017

Iran’s deputy petroleum minister says the country will become self-sufficient in gasoline production next year as it eyes exporting the crucial fuel to other countries in the region and across the world.


Iran says oil to stay between $50-$55

Iran’s Oil Minister Bijan Zanganeh says he expects the price of oil to remain within the margin of $50 to $55 per barrel following a recent deal between OPEC and non-OPEC producers to curtail output. 

Shell deal with Iran seen as message to US

Iran on Wednesday awarded a basic agreement to global energy giant Royal Dutch Shell to study three mega oil and gas projects – an agreement that was hailed in Tehran for not only its technical and economic benefits for Iran but also the political message that it sent to the world and specifically the United States. 


Thailand’s PTTEP to study Iran’s Changuleh

Iran has signed a basic agreement with Thailand’s PTT Exploration and Production Public Company Limited (PTTEP) to study its Changuleh oil field which appears to be one of the country’s emerging top oil project prizes.


Iran’s OPEC ‘victory’ hailed at home

Iran’s media have hailed what is seen at home as the country’s “victory” in multiple-month negotiations with rivals and allies at the Organization of the Petroleum Exporting Countries (OPEC) over a proposed plan to reduce production and boost the prices.

Indonesia wants Iran refinery investments

Indonesia has called on Iran to invest in its oil refinery projects, saying this is part of a wider policy meant to address the countrys rising fuel consumption.


Iran awards key oil deal to Schlumberger

Iran says it has signed a memorandum of understanding (MOU) with Schlumberger – the worlds largest oil field services company - over the development of several southern oil fields. 

Iran hopeful about OPEC deal on output cuts

Iran has voiced optimism that a deal is possible among member states of the Organization of the Petroleum Exporting Countries (OPEC) to freeze production to help stabilize the prices. 

BP forms task force to study Iran plans

Global energy giant British Petroleum (BP) has reportedly started a serious push to look into the prospects for making post-sanctions investments in Iran’s oil industry. 

Qatar discussing oil freeze with Iran, Iraq

Qatar says it is negotiating with Iran and Iraq to freeze their oil production at “current levels” as OPEC is preparing to put a proposal devised by Saudi Arabia to cap production later this month. 

Norway’s DNO to study key Iranian oil field

Iran has signed an agreement with Norway’s DNO to study the development of a key oil field which is believed to be jointly shared with Iraq in a yet another sign that shows Western companies are already welcoming the country’s lucrative post-sanctions investment opportunities.   

Total, Shell join Iran-Oman pipeline talks

Iran says it has hosted a fresh round of talks with Oman for the construction of a subsea pipeline to export natural gas to the Persian Gulf Sultanate, emphasizing that two global energy giants have also been present in the discussions – Total and Shell.   

Iran talks gas price cut as Turkey wins ruling

Iran is discussing possible discounts in its sales of natural gas to Turkey after a court of arbitration ruled in Ankara’s favor in a dispute over pricing, Minister of Petroleum Bijan Zangeneh says. 

Total signs major Iran gas deal

Iran has signed a major agreement with the French energy giant Total for the development of what it says will be the last remaining section of its huge South Pars gas field.   

Iran set to award major gas deal to Total

Iran is set to sign a major agreement with the French energy giant Total over the development of one of its biggest gas fields – what could break the ice for post-sanctions investments in the country.   


Poland to study key Iranian oil field

Iran has awarded a project to study one of its key western oil fields to Poland in what could provide the country with a strong footing in the lucrative oil industry of the Islamic Republic. 

Total, Shell offer to build petrochem plant: Iran

France’s Total and Anglo-Dutch Shell companies have tabled “serious” proposals for building petrochemical plants in Iran, managing director of the National Petrochemical Company (NPC) says. 

‘Iran still resolved to regain lost oil market’

As OPEC is preparing for a crucial summit to discuss a plan to freeze crude oil output, Iran says its resolve to regain the share of the global oil market that it lost as a result of multiple years of sanctions remains unchanged. 

Iran’s oil sales to Asia up 92%

Iran has reported a whopping jump in its oil exports to Asia, emphasizing that its supplies to the world’s largest consumption zone are now much closer to pre-sanctions levels. 

Iran to resume gas exports to Turkey soon

Iran says its exports of natural gas to Turkey that have been halted reportedly as a result of an explosion inside the Turkish territory will resume within the next few days.


OPEC facing its ‘hardest’ times in history

OPEC is at its hardest stage in history as oil producing members are struggling to build consensus around the need to trim production and stabilize the market, its chief Mohammed Barkindo says. 

Iran to stop gasoline imports next year

Iran says it will stop gasoline imports during the next Persian calendar of 1396 (starting March 21, 2017) in an announcement that could mean the country will soon stand on its own feet in producing the crucial fuel.

Iran eyes Maersk help to cut gap with Qatar

The National Iranian Oil Company (NIOC) says it is in talks with Denmark’s Maersk Group to extract oil from the world’s largest gas field known as South Pars in Iran. 

Iran Earnings from Phases 17&18 hit $2b

TEHRAN (FNA)- The newly-appointed managing director of Pars Oil and Gas Company (POGC) says the items recovered from phases 17 and 18 of the supergiant South Pars Gas Field have fetched the company nearly 2 billion dollars in revenues.