TEHRAN – Researchers at a knowledge-based company in the city of Mashhad designed crude oil disposal reinjection units which improve the quality of crude oil. The company was recognized as the second laureate in research and development section for their research work on crude oil disposal reinjection units at the 31st Khwarizmi International Award, which […]

Exports volume for Iran’s crude oil stands at two million and one hundred thousand barrels per day (mb/d) in March. The figure is expected to increase in April. China and India are the largest buyers of Iranian crude, with more than one million barrels in total. The figure is expected to reach nearly 1.3 million […]

TEHRAN – Iran’s oil customers in Asia and Europe shipped in 2.1 million barrels per day (bpd) of Iranian crude during March, IRNA reported on Monday citing the oil ministry. China and India were top importers of Iranian crude oil in the mentioned period importing over one million bpd together. The oil ministry expects the […]

Iranian oil Minister Bijan Namdar Zanganeh landed in Indian capital New Delhi early on Wednesday to participate in 16th International Energy Forum (IEF). During his daylong stay in India, he is going to meet with his Indian counterpart and also delivers speech in the ministerial meeting of OPEC (Organization of Petroleum Exporting Countries) member states. […]

 Iranian Foreign Minister Mohammad Javad Zarif in a meeting with Brazilian President Michel Temer welcomed Brazil’s investment in the country’s oil and gas sector. During the meeting held Tuesday in Brasilia, Iranian Foreign Minister Zarif called for expansion of economic ties and reaching a balance in trade transactions between the two countries. He also deemed […]

TEHRAN – Russian companies are expected to invest over $50 billion in development of oil and gas fields in Iran, Tass reported quoting Russian presidential aide Yuri Ushakov as saying on Monday. “Energy is the most promising sphere for cooperation between Russia and Iran. Leading Russian oil and gas companies, such as Gazprom, Gazprom Neft, […]

Oil has risen towards $70 as a result of a drop in drilling activity in the US and concerns that Washington could reintroduce sanctions against Iran.  “The Iranian factor is going to be a very significant input for the next four weeks. It is going to be an underlying support for the whole month,” Olivier […]

Iran, for long, has been using buy-back oil contracts in deals with foreign companies who worked on developing the country’s oil and gas fields. But in recent years, some issues attributed to the buy-back model have made this kind of contracts less attractive to foreign companies, thus, encouraging the oil-rich country to introduce a new […]

Iranian Oil Minister Bijan Namdar Zanganeh praised the capabilities of domestic energy companies to develop oil and gas fields and said the country has more than 100 fields, which can be developed by the Iranian exploration and production (E&P) companies. Speaking at a ceremony to sign a contract between the National Iranian Oil Company (NIOC) […]

 The National Iranian Oil Company (NIOC) signed a contract with a consortium made up of JSC Zarubezhneft of Russia and Dana Energy of Iran on Wednesday at a ceremony featuring Iranian oil minister.   The National Iranian Oil Company (NIOC) signed a contract, for the development of Aban and the West Paydar joint oil fields, […]