Energy

Vice President Eshaq Jahangiri will inaugurate Lorestan Petrochemical Complex, western Iran, on Tuesday, May 3.

Iran’s exports of oil and gas condensates have reached 2.3 million barrels per day (bpd), almost twice as much as before the Joint Comprehensive Plan of Action (JCPOA), a nuclear deal between Tehran and world powers, came into force, Iranian President Hassan Rouhani said.

Iranian Minister of Petroleum Bijan Zangeneh said Iran and South Korea can cooperate in various energy sectors including petrochemical industry, liquefied natural gas and investment of Korean companies in Iranian projects.

Iran has resumed electricity exports to Iraq’s southern province of Basra following a hiatus over unpaid dues.

Iran says its gas recovery from the supergiant South Pars gas field will catch up with that of Qatar before the end of the current Iranian calendar year which began on March 20.

Iran’s Ambassador to Russia Mehdi Sanaei said Tehran and Moscow are in negotiations to promote mutual cooperation in the field of energy, and other areas.

Engineering studies over North Azadegan oilfield indicate that the field holds 30% more crude oil in its despite than was previously estimated in the field's 2008 master development plan (MDP).

Iran’s oil exports to Asian countries have increased by 50% in the third month of the current year compared the corresponding period last year.

Siraf Refinery Project, comprising 8 gas condensate mini-refineries, will generate 10,000 jobs, said a senior official related to the project.

NIORDC’s managing director said the volume of Iran’s gasoline exports has increased twofold since the beginning of the current Iranian calendar year [20 Mar 2016].

Iran's crude exports in the first two weeks of April increased by about 600,000 bpd compared to that in the same period the previous year.

Iran has begun negotiations with American and Canadian oil companies on petrochemical sales, technology purchases, as well as investment in the country’s oil and gas industries.

First Vice-President Eshaq Jahangiri said that the Rouhani Administration is planning to invest $200bn dollars in oil sector in a push to develop the industry by employing new technologies.

Iran has joined the club of countries which own shale oil and gas reserves, a senior Iranian oil official said.

South Korea’s Hyundai Engineering Company (HEC) will ink a contract to construct a 500-megawatt power house in Iran.

Qazvin provincial officials and Italian investors have signed a deal which will build a 1000-mW solar power plant and photovoltaic panels.

A high-ranking oil industry official said that Iran and Canada are to cooperate on building equipment related to oil industry surface facilities.

Managing director of Masjed Soleiman Oil and Gas Company said the company will boost its output by at least 10% by the end of the current Iranian calendar year to March 20 2017.

The deal for construction of first petrochemical power plant in Mehran was signed on Tuesday between the executor company of Petrosaman Faragostar and Chinese Company CNTIC.

An NIOC official has announced that Iran's sales of crude oil will reach 2mn barrels per day (bpd) in the current year.

Iranian Minister of Petroleum Bijan Zangeneh says Tehran supports moves like the Doha conference which are aimed at tackling the consistent market volatility, saying that OPEC member "Iran has never had a role in the market instability".

The Italian company of Carlo Maresca S.p.A. is to build a 50-megawatt solar power plant on the southern Iranian island of Qeshm due to its signed agreement with the Qeshm Free Zone Organization, ISNA reported on Sunday.

South Korean President Park Geun-hye will visit Iran in May to sign three Memorandums of Understanding (MoUs) on energy domain, an official with Iranian Ministry of Petroleum said on Sunday.

Hossein Kazempour Ardebili, Iran’s OPEC (Organization of the Petroleum Exporting Countries) governor, will represent the country’s Oil Ministry in an upcoming meeting on crude output of fellow OPEC members plus Russia in the Qatari capital.

Iran and the EU signed a Memorandum of Understanding (MoU) to cooperate in energy, as the EU Foreign Policy Chief Federica Mogherini visited Iran on Saturday