TEHRAN, Jan. 06 (Shana) — Iran is planning to build major petrochemical projects in the vicinity of the northwestern city of Tabriz in order to transform the region into a petrochemical heavyweight in the country and the region. Speaking during a ceremony to break the ground for an ethylene pipeline project in Tabriz on Thursday, Iranian Minister of Petroleum Bijan ...

TEHRAN, Jan. 06 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh says Iran’s gas output has raised its natural gas output by 50% over the course of the past three years. Saying that Iran has problem in supplying gas to all the provinces, the official said inauguration of new South Pars phases has added 50% to the country’s gas output ...

TEHRAN, Jan. 03 (Shana) — Iran has denied it has reached an agreement with the Kurdistan Region of Iraq for laying out joint oil pipelines. The public relations department of the Iranian Ministry of Petroleum announced on Tuesday that the country has made no agreements with the Iraqi Kurdistan for construction of two pipelines to deliver its crude oil to ...

TEHRAN, Jan. 02 (Shana) — The National Iranian Oil Company (NIOC) has released the list of 29 qualified foreign oil and gas exploration and production (E&P) companies for attending tenders aimed at developing upstream projects in Iran’s oil sector, in big step to opening up Iran’s oil and gasfields to western investment.. NIOC is planning to put to a round ...

TEHRAN, Jan. 02 (Shana) — A senior Iranian petrochemical official says Iran’s export of petrochemical products will hit 20 million tons by the end of the current Iranian calendar year to March 21 2017. Farnaz Alavi, director of planning and development at the National Petrochemical Company (NPC), said Iran’s petrochemical production capacity will hit 64 million tons by the end of ...

TEHRAN, Jan. 01 (Shana) — Iran’s National Petrochemical Company (NPC) has said the formula used for determining price of petrochemicals will stay unchanged in Iran for at least the next 10 years. Managing Director of NPC Marziyeh Shahdaei said on Sunday that the pricing formula will not change for at least 10 years from now. Pricing formula is a key ...

TEHRAN, Jan. 01 (Shana) – A senior Iranian oil official says the country has plans to bring its oil recovery rate to an average of 40% in a 30-year period. Gholamreza Manouchehri, deputy managing director of the National Iranian Oil Company (NIOC) for Development and Engineering Affairs, said the company has plans to employ enhanced oil recovery (EOR) and improved ...

Managing Director of Petro Gohar Farasahel Kish Co. (PGFK) Masood Ziari says drilling of eight wells for the platform B24 is completed within less than 20 months. Ziari told Shana that average drilling of the wells is 71.8 days. Announcing that drilling of the phases 22 to 24 of South Pars has been entrusted to the PGFK, Ziari said drilling ...

A senior official with Iran’s Research Institute of Petroleum Industry (RIPI) says the country enjoys vast shale gas reserves in the western province of Lorestan.   Addressing a press conference in Tehran, Mohammad Reza Kamali, director of RIPI’s upstream faculty, said huge reserves of shale gas have been located in the region. He said the faculty is currently working on ...

Iran’s petroleum minister said he expects the country to sign an energy MoU with South Africa. Bijan Zangeneh, after a meeting with Tina Joemat-Pettersson, his South African counterpart, expressed hope that the two countries will sign a memorandum of understanding (MoU). “It is expected that the two countries will sign an MoU on Sunday (April 24),” said Zanganeh. He said ...