Iran Oil and Gas News

Total value of deals conducted at the Iran Energy Exchange reached 537 trillion rials ($3.35 billion) during the last fiscal year that ended on March 19.  The amount was up 171 trillion…

OPEC and its allies need to cut crude output by 500,000 barrels per day to clear the oil market's oversupply from the coronavirus outbreak, Iran’s Oil Minister said upon his arrival in Vienna…

Due to the big increase in liquefied fuel consumption over the last few weeks, the National Iranian Oil Company has stopped selling diesel and mazut on the Iran Energy Exchange, the company’s…

Iran’s capital market is capable of financing half of the domestic oil projects, the CEO of Securities and Exchange Organizations said. The oil industry needs $30 billion in funding, Shapour…

Iranian National Oil Company and Mapna Group-- Iran's top engineering and energy firm -- signed a contract to develop Parsi and Paranj Oilfields in Khuzestan Province. The deal was signed in…

The Iranian Oil Pipeline and Telecommunication Company has supplied close to 100 billion liters of crude and petroleum products nationwide since March 2019, managing director of the company said…

Standard parallel salaf contracts worth 2.5 trillion rials ($20 million) will be offered on the Iran Energy Exchange on Tuesday to finance Azar Oilfield projects.  Securities mature in one…

Following two rounds of sea delivery of oil products offered on the Iran Energy Exchange, the National Iranian Oil Company has said that it wants to expand such offers.  According to…

Boosting output of petroleum products is a declared policy of the government and has generated $9 billion from exporting liquid fuels, managing director of National Iranian Gas Company said.

Almost a month after Oil Minister Bijan Namdar Zanganeh adjusted the guidelines for crude oil sale via IRENEX, the ministry again tweaked purchasing terms to attract buyers. Amirhossein…

President Hassan Rouhani said Sunday the country has become self-sufficient in the production of natural gas, gasoline and diesel and has started exporting the three fuels. 

Iran is exporting its oil despite the new US sanctions, the first vice president said Monday, adding that Washington’s “maximum pressure” on Tehran has failed.

The National Iranian Oil Products Distribution Company will offer 26,000 tons of gasoline on the Iran Energy Exchange on Tuesday.  It is the first offer of the kind through the energy…

Natural gas production in the giant South Pars Gas Field in the Persian Gulf will increase by 70 million cubic meters per day before the calendar year is out, managing director of Pars Oil and…

The Oil Ministry has announced new guidelines for selling crude oil via the Iran Energy Exchange. Procedures that determine base prices have been amended.  Announced by Oil Minister Bijan…

Sale of gasoline on the Iran Energy Exchange will not be affected by the government decision on Friday to increase fuel prices and assign quotas, the managing director of IRENEX said.  “…

A new oil field was identified in southwest Iran that holds 53 billion barrels of crude oil, President Hassan Rouhani said in Yazd on Sunday. “Exploration department of the National Iranian Oil…

After failing to attract customers for crude oil offered on the Iran Energy Exchange, the National Iranian Oil Company says it plans to again tweak rules and procedures in the process, an…

Oil has always been a function of the international market, so setting up local energy markets cannot help the National Iranian Oil Company sell crude on a long-term basis, a veteran financial…

The National Iranian South Oil Company seeks to further reduce flaring and burning of associated petroleum gases from oil and gas sites in the southern and southwestern regions it operates,…

A new gas field has been discovered in southern Fars Province after surveys that lasted a year, director of development and engineering affairs at the National Iranian Oil Company said Sunday.…

The oil industry has been a driving force for local upstream and downstream companies including private enterprise working for or related to oil in some form or fashion.  Oil Minister…

Unilateral sanctions against Iran's oil sector are yet another example of the belligerent US President Donald Trump’s economic terrorism against the Iranian people. 

The Research Institute of Petroleum Industry is implementing several projects in the fields of oil exploration, drilling, extraction, catalyst production and energy saving, the head of RIPI said…

Collecting all the flare gas in Khuzestan Province requires $3.5 billion of investment, the province’s governor said.