Iran

Iran explains further details of gas deal with Total
Iran

Iran explains further details of gas deal with Total

Iran explained further details of a $4.8-billion deal with a consortium, headed by Total. Three days after inviting Iran’s Oil Minister Bijan Namdar Zanganeh to parliament to answer the critic’s questions about the deal, Deputy Head of the National Iranian Oil Company (NIOC) for Engineering and Development Affairs Gholamreza Manouchehri said during a press conference on June 15 in Tehran […]

Why Total’s $1B investment in Iran’s gas project worthy
Iran

Why Total’s $1B investment in Iran’s gas project worthy

French Total, with 50.1 percent stake, signed a $4.8 billion worth agreement with Iran to develop the phase 11 of South Pars gas field. CNPC and Iran’s Petro Pars have 30 percent and 19.9 percent stakes as well. The 20-year deal, based on newly designed contract model, called Iran Petroleum Contract (IPC), can be extended for 5 years further, and […]

Iran Starts Exporting Natural Gas to Iraq
Iran

Iran Starts Exporting Natural Gas to Iraq

Iran started exporting natural gas to neighboring Iraq, the National Iranian Gas Company reports. The export of Iranian gas to the Iraqi capital of Baghdad began on June 21. At the beginning the delivery will be at the level of 7 mcm per day and will gradually reach 35 mcm per day. The countries signed an agreement on gas supplies […]

Iran boosts gasoline production, downs other distillates
Iran

Iran boosts gasoline production, downs other distillates

Iran has increased gasoline production during the last four years, but the output of other distillates has decreased. According to an official report, prepared by the country’s Oil ministry and seen by Trend on May 29, Iran’s gasoline output increased by 2.7 million liters per day (ml/d) in a fiscal year to March 2017 to about 70.22 ml/d, compared to […]

Tehran Approves SOCAR’s Participation in Oil and Gas Projects in Iran
Iran

Tehran Approves SOCAR’s Participation in Oil and Gas Projects in Iran

SOCAR plans to take part in the implementation of oil and gas projects in Iran, Azerbaijani media reported with reference to Iran’s Deputy Oil Minister for International Affairs Amir Hossein Zamaniniya. “Last month, SOCAR asked about participation in projects in Iran, and its appeal was considered and approved. We take SOCAR as a serious partner and agree to its participation […]

IPC – Iran’s Gordian knot
Iran

IPC – Iran’s Gordian knot

Since November 2015, when Iran introduced its newly designed oil and gas agreement model, called Iran Petroleum Contract (IPC), the country hasn’t issued any tender yet due to domestic challenges and criticism. Iran had planned to offer 49 oil and gas projects worth $100 billion (80% of which projected to be attracted from foreign funding) to foreign companies based on […]

Iran’s oil and gas output to grow by 2018
Iran

Iran’s oil and gas output to grow by 2018

Therefore, Iran’s oil production growth would be about 10% more in 2018, compared to 2016.   Iran’s oil production increased from 2.92 million barrels per day (mb/d) in 2015 to 3.69 mb/d last year and expected to increase by 21,000 b/d in the current year and reach 4.06 mb/d in 2018, the International Monetary Fund reported. Sanctions on Iran were […]

Iran Wants to Become Petrochemical Power
Iran

Iran Wants to Become Petrochemical Power

Iran expects to attract foreign investments into petrochemical projects worth $ 10 billion in the near future, Iran’s Deputy Minister for International Affairs and Trade Amir-Hossein Zamaninia said. According to the Deputy Minister, the current financial year will be an important milestone in the petrochemical sector of Iran, Shana reports. Iran plans to put into operation 7 petrochemical plants in […]

Iran and Total Complete Negotiations over XI Phase of South Pars
Iran

Iran and Total Complete Negotiations over XI Phase of South Pars

The National Iranian Oil Company (NIOC) and the French Total will sign a final agreement on cooperation to develop the South Pars field. This is reported by the Iranian media with reference to the Iranian Oil Ministry. It is known that by the end of April 2017 the companies will sign a final agreement on the development of the XI […]

Trump orders review of Iranian nuclear deal
Iran

Trump orders review of Iranian nuclear deal

 US National Security Council  was launching an inter-agency review of whether the lifting of sanctions against Iran was in the United States’ national security interests, US Secretary of State Rex Tillerson said in a statement. In a letter to US House of Representatives Speaker Paul Ryan, the top Republican in Congress, Tillerson said Iran remained compliant with the 2015 deal, but […]