TEHRAN, Jan. 07 (Shana) — Lorestan Petrochemical Plant has come on-stream with 90% of its nameplate production capacity, the facility’s CEO said. Mohammad Hossein Maghazehei said the plant has produced 137,000 tons of petrochemicals since the beginning of the current Iranian calendar year on March 20 2016. He said the plant is currently operating at 90% of its nameplate capacity, ...

HOUSTON — W&T Offshore announced that its Ship Shoal 359 A-18 well has logged 149 ft of net oil pay in five zones and extended the size and depth of the Mahogany field.  The SS 349 A-18 well was drilled on the western side of the Mahogany field to extend the productive limit of the ‘T’ sand, which was discovered ...

SHANGHAI, China — Wison Offshore & Marine has announced that the company has developed a range of practical solutions for floating power supply. With design philosophy of “plug-in power,” all products which are named W-FSRP series (Wison-Floating Storage Regasification and Power generation) feature integrated functions of LNG loading and storage facilities, regasification and power generation. The smallest unit starts at ...

HOUSTON — C&J Energy Services, Inc., has announced that effective as of Jan. 6, 2017, the Company has successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy, having satisfied all of the conditions to the effectiveness of its plan of reorganization. Through this financial restructuring, C&J has significantly improved its financial position by eliminating approximately $1.4 billion of ...

TEHRAN, Jan. 04 (Shana) — Managing Director of the Philippine National Oil Company Pedro A. Aquino has said Iran is the land of opportunities, voicing his company’s keenness to join petroleum projects in Iran. Speaking in Tehran, the Philippine official said his company seeks investments in oil-rich regions in west Asia, saying Iranian petroleum experts are at a top level ...

TEHRAN Jan. 04 (Shana) — A senior petrochemical official says Iran is likely to raise its output by 10 to 20% this year from a year ago. Ali Mohammad Bossaqzadeh, director of production control at National Petrochemical Company (NPC), said Iran’s petrochemical output showed a 5 to 10% growth in the first half of the current Iranian calendar year which ...

TEHRAN, Jan. 04 (Shana) — The Research Center of Petroleum Industry (RIPI) says it is now focused on developing and deploying enhanced oil recovery (EOR) methods on two oilfields in southwestern Iran, a RIPI official said. Mohammad Reza Kamali, head of the upstream faculty of RIPI, said on Monday that the institute is cooperating with international study centers and companies, ...

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 ...

COPENHAGEN, Denmark — Maersk Oil is planning to halt production from Tyra field, Denmark’s largest gas field, during the fourth quarter of 2018. According to the Copenhagen-based company, an economically viable solution for full recovery of the field’s remaining resources has not yet been identified, and production is consequently expected to cease on Oct. 1, 2018. “Tyra has since 1984 ...