TEHRAN, Feb. 12 (Shana) — Iran would welcome cooperation with Swedish companies in projects concerning optimization of energy consumption and reduction of greenhouse emissions, Iranian Minister of Petroleum Bijan Zangeneh said. Following a meeting with a Swedish delegation headed by Sweden’s Minister of EU Affairs and Trade Ann Linde here in Tehran on Saturday, Zangeneh said discussion regarding cooperation between ...

TEHRAN, Feb. 08 (Shana) — The National Iranian Oil Company (NIOC) and Malaysia’s Bukhary International Ventures (BIV) have signed a memorandum of understanding (MoU) for carrying out studies over Iran’s Golshan and Ferdowsi fields. The two sides inked the deal in Tehran on Wednesday. Based on the document BIV will submit the result of its studies to NIOC over the ...

TEHRAN, Feb. 08 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh met his Venezuelan counterpart Nelson Pablo Martinez in Tehran to discuss oil market conditions and OPEC’s production cut. Following the meeting, Martinez said the decision made by the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers to cut their output has positively influence the market. Implementation of ...

TEHRAN, Feb. 07 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh says export of petroleum products is an approach adopted by the Iranian Ministry of Petroleum. Addressing a ceremony to break grounds for construction of phase II of a project to stabilize and develop Abadan Oil Refinery, southwestern Iran, the official said Iran is currently meeting most of its energy ...

TEHRAN, Feb. 06 (Shana) — The supergiant South Pars Gas Field will account for 80 percent of Iran’s total gas output in the future years, a senior gas official said.  Gholamreza Bahman Nia, director of coordination and supervision over production at the National Iranian Gas Company (NIGC), said the field is Iran’s biggest gas complex and will be relied on ...

TEHRAN, Feb. 05 (Shana) — Iran says it holds 711.53 billion barrels of crude oil in-place of which 102.44 billion barrels are recoverable. Addressing a press conference, Karim Zobeidi, deputy managing director for consolidated planning at the National Iranian Oil Company (NIOC), said on Saturday that Iran has so far pumped 72.95 billion barrels of crude oil from its reserves ...

TEHRAN, Jan. 30 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh said crude oil suppliers are content with the price of oil in the range of 55 to 60 dollars a barrel, adding the market is moving towards restoration of supply-demand balance. “The oil market is moving towards rebalancing of supply of demand and no one has ever imagined this ...

TEHRAN, Jan. 30 (Shana) — Iran is to launch 270 kilometers of the 6th Iran Gas Trunkline (IGAT-6) on Tuesday in order to ensure sustainable gas supply to western provinces of the country and exports to Iraq. The pipeline is being launched in a ceremony on the first day of the Fajr Decade, marked as the anniversary of the victory ...

TEHRAN, Jan. 30 (Shana) — Iran is currently recovering 115,000 barrels of crude oil from Yadavaran oilfield which it shares with neighboring Iraq, operator of the field said. Hadi Nazarpour, operator of the field’s development project, has said production from the field is growing at a good pace, adding Yadavaran join oilfield is now yielding more crude oil than was ...

TEHRAN, Jan. 25 (Shana) — An Iranian oil exploration and production (E&P) has signed a memorandum of understanding (MoU) with Austria’s OMV for cooperation in upstream oil projects in Iran. OMV, the international, integrated oil and gas company based in Vienna, and Dana Energy company, a leading Iranian company active in oil and gas upstream field development activities, signed a ...