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Petroleum / Mining in Iran

  • Iran-Saudi tensions affect OPEC unity

    IRAN, 2016/01/08 Escalating diplomatic tensions between Iran and Saudi Arabia have added fresh strains on OPEC's unity as the cartel grapples with a common response to rock-bottom oil prices, experts said. While it produces a third of the world's oil, the group has struggled with crude values that have tumbled some 60 % since mid-2014, falling below $40 (37 euros). Crafting a new way forward has become from presently on tougher since Saudi Arabia executed prominent Shiite cleric Nimr al-Nimr at the weekend, triggering a sectarian standoff with Iran.

  • Iran Prepared to Export Oil to Mongolia via China

    CHINA, 2015/12/26 Iranian Oil Minister Bijan Namdar Zanganeh said the Islamic Republic is ready to export oil to Mongolia with the cooperation of Chinese companies. Speaking to reporters next his conference with visiting Mongolian Foreign Minister Lundeg Purevsuren in Tehran on Thursday, Zanganeh pointed to the issues discussed in the session and said that given the existing capacities, Iran is ready to hold short-term courses for training manpower in the oil sector of the country. He further said Mongolia is willing to buy the Iranian crude, adding that due to the fact that the country is landlocked and has no sea port, the only way to export oil passes through China.

  • The Iranian Oil Ministry will announce details about the terms and conditions of each oil and gas field

    IRAN, 2015/12/07 During last month Tehran hosted 137 companies from 45 nations for a two-day conference, during which legal generalities of Iran’s new model of oil and gas arrangement (Iran Petroleum Arrangement, or IPC) were introduced. Additional details about the contracts will be unveiled at a conference likely to be held in London in February 2016. The legal generalities of the IPC shows that it covers a package for all exploration, development, and production stages in a lot of of the fields. Moreover, the parties will hold a stake in the output for additional than two decades. The Iranian Oil Ministry will announce details about the terms and conditions of each oil and gas field within related tenders for foreign companies. Here are 10 facts about 21 gas fields, Iran proposed for foreigners to take part in them, based on the IPC:

  • Iran Urges OPEC To Cut Output

    IRAN, 2015/12/02 Iranian Oil Minister Bijan Namdar Zanganeh has asked the Organization of the Petroleum Exporting Nations (OPEC) to reduce production by at least 1.3 million barrels per day (mbpd). Ahead of the upcoming OPEC conference, Zanganeh has written a letter to OPEC chief Abdallah Salem el-Badri, announcing that the cartel members should be committed to the ceiling level, which had been set at 30 mb/d, Mehdi Asali, an Iranian oil ministry official said, Mehr news agency reported Dec. 1.

  • Russia, Iran mull concluding swap oil and gas contracts

    IRAN, 2015/10/26 Russia and Iran have discussed the possibility of concluding swap oil and gas contracts, but a final decision has not from presently on been reached. This statement was made by Russian Energy Minister Alexander Novak while talking to Russian media. "We were discussing the possibility of concluding swap oil and gas contracts during talks with the Iranian side,” he said. “In particular, the two nations are considering a proposition of receiving the crude oil, gas and oil products from Russia in the north of Iran and supplying the equivalent volume of oil, gas and oil products produced in Iran to the Russian contractors through the ports and terminals in the south of Iran." He said that a final decision in this regard has not been taken from presently on.

  • Iran export blue fuel to Europe

    IRAN, 2015/10/13   Iran, which ranks second in the world for natural gas reserves, enjoys significant potential and technical opportunities to increase gas supply to Turkey, Amir Abbas Soltani believes. The initial secretary of Iranian parliament's energy commission told Trend that the country as well has technical potential to export its gas to European nations. "Currently, Iran can meet 8-9 % of the world market’s request for natural gas," he said, voicing regret that the sanctions didn’t allow Iran to use this potential.

  • Iran to increase oil production

    IRAN, 2015/09/24 Iran plans to increase oil production to 4.2 million barrels per day by the end of 2016. Bijan Zangeneh, Iran’s oil minister said Iran would not hold back its oil production once the sanctions are lifted. With the expected removal of sanctions on the country in 2016, the Islamic Republic is eyeing foreign investors to revive its aging oilfields and develop new oil and gas projects.

  • Iran can up oil output to 6 mln bpd

    IRAN, 2015/07/27 Iran with having adequate investment could increase its oil production to 6 million barrels a day (bpd) and export 4.5 million bpd, a professor of economics at U.S. Northeastern University Kamran Dadkhah believes. Dadkhah told Trend that Iran could increase its oil production next the sanctions are lifted but the addition volumes cannot be substantial. “Indeed within the initial two years the additional output would be between one and two million barrels a day, he said. But next that, assuming adequate investment , in 5-7 years Iran could increase its oil production to 6 million barrels a day and export 4.5 million barrels a day.” With regard to the oil prices, Dadkhah believes that given the present situation in the market, there is little expectation of oil price increase to previous levels of $100 and additional.

  • Iran has suffered a loss of about $45 million for storing oil in a tanker at sea.

    IRAN, 2015/07/27 Two years ago at the same time as two million barrels of the country’s oil were not sold, the top official in charge decided to store the oil at sea. So, a tanker was hired at $45 million, Fars news agency reported July 25. The statement goes that the official_ mentioned by initials M.S._ again made the decision in coordination with current officials of the oil industry. The tanker kept the oil for about one year near Iran’s border with Oman. The point here is that the identity and ownership of the tanker are unknown.

  • Will OPEC allow Iran to increase oil supply?

    IRAN, 2015/07/09 Iran, as at no time before, is close to resolve its problems related to the economic sanctions. Despite the protraction of the talks between the P5+ 1 (the US, UK, Russia, China, France and Germany) and Iran, there are completely real chances for success. One of the results of lifting the sanctions imposed on Iran will be the country’s access to the world energy resources’ market. Iranian authorities have by instantly expressed readiness to double the oil supply from the current 1.2 million barrels per day to 2.3 million barrels if the sanctions are lifted. The country started to prepare the ground for his several months ago: it said that OPEC member states should make room for Iran to allow it to increase the export.
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