Iran Oil and Gas News

Iran’s capital market is not prepared for the launch of an oil bourse, as it needs to be connected with global markets and supported by the international banking system, a member of the…

In line with efforts to play a more active role in international drilling ventures, the National Iranian Drilling Company, a subsidiary of National Iranian Oil Company, is negotiating with a…

Notwithstanding the looming reimposition of US sanctions against Iran's energy industry, no reduction in oil output is on the agenda.

Ali Kardor, the chief executive officer of the state…

Oil Minister Bijan Namdar Zanganeh rejected leaving the 2016 pact of curbing oil output by OPEC members.

"Every decision in OPEC needs unanimity … I do not believe that we can reach an…

Despite the US-Saudi Arabia ploy to coerce OPEC members' to raise output, the National Iranian Oil Company should strongly hold its position to maintain oil production and exports at the current…

The Oil Ministry plans to modify the contracts it had earlier signed with domestic oil parts manufacturers so that they would be able to fulfill their commitments, the head of the Society of…

Gazprom, Russia’s fourth largest gas producer, is mulling over taking part in development of Farzad-A and Farzad-B, a large gas reservoir in the Persian Gulf, a senior official at Gazprom said…

The National Iranian Oil Company has allocated 4% of the oil projects' value, including extraction and production, on implementing development plans in oil-rich regions, NIOC's managing director…

Oil Minister Bijan Namdar Zanganeh said on Saturday plans have been devised to lift the country's output capacity by 460 million barrels within three years by recovering the extraction rate from…

Finnish mining technology company Outotec is yet to decide on leaving the Iranian market, the company's Tehran office announced.

A Chinese investment firm is set to spend $2 billion on the construction of an oil refinery in the northern Mazandaran Province, the deputy head of the province's Investment Center said.

Indian refiners say they are keen to maintain oil imports from Iran despite the US withdrawal from a nuclear deal with Tehran and threats to pressure the country with, according to the National…

The first onshore gas sweetening train of phases 22-24 of the giant South Pars Gas Field in the Persian Gulf has come on stream, the director of the phases said on Sunday.

“The facility…

Iran's gas condensate exports from the giant South Pars Gas Field in the Persian Gulf witnessed a considerable hike in terms of volume and value in the second Iranian month (ended May 21), the…

Iran's crude oil prices continued to advance in the week to May 18, following the trail of international oil benchmarks that have rallied to their peak levels in more than four years.

The tender results for developing North Azadegan Oilfield in southwest Iran have been announced and Oil Industries' Commissioning and Operation Company will take on the project, the company's…

The European Union states have the political will to implement special mechanisms to avoid imposing the United States’ prospective sanctions against Iran after it pulled out of the nuclear deal…

US President Donald Trump’s decision to quit Iran's multinational nuclear deal would not affect European small-  and medium-sized enterprises' activities in the country's downstream sector…

Natural gas refining complexes produced over 237 million barrels of gas condensates in 2017, a deputy at the National Iranian Gas Company said on Saturday.

"The output level witnessed 13…

Iran's Petroleum University of Technology and Austria’s University of Leoben signed on Tuesday a non-disclosure agreement on oilfield development plans and a memorandum of understanding on…

Continuing Iran's oil sales to Europe and solving barriers facing the receipt of oil money depend on the country’s negotiations with European states on its nuclear deal, dubbed the Joint…

Although Iran’s crude production is far less than that of global producers, the country is an influential member of the Organization of Petroleum Exporting Countries.

In line with efforts to fast-track the development of oil and gas fields, Drilling Company International is set to play a key role in the development of five massive hydrocarbon reserves,…

China has reassured Tehran that it will continue to import its crude, despite the United States’ withdrawal from the nuclear deal that will now be followed by sanctions targeting the Iranian oil…

UK-based Dunlop Oil & Marine Ltd has signed a memorandum of understanding with Iran Oil Terminals Company, a subsidiary of the National Iranian Oil Company, to cooperate in oil and gas…