Iran oil

The latest news and views about the Iranian oil industry

Energy

Iran to complete all South Pars Oil Field projects in 3 years: Minister

Emad Askarieh -
We are able to increase oil production by 500,000 barrels per day anytime we decide to do so, said the Iranian oil minister.
Economy

Iran oil to hit 4.7 million bpd ‘soon’

Emad Askarieh -
Iran has the biggest hydrocarbon reserves in the world and deems itself responsible for the world’s energy security, said Zanganeh.
Economy

What will happen when Iran’s oil is back on the market?

Emad Askarieh -
Fararu, an Iranian news website, has predicted that Iran’s return to global oil markets will bring about a positive change for both producing and consumer nations.
Economy

Boosting oil exports top priority for Iranian Oil Ministry: Zanganeh

Emad Askarieh -
The Iranian oil minister has said that the Islamic Republic plans to raise its oil exports after the implementation of the historic deal Iran and P5+1 clinched on July 14.
Energy

Iran vows to double oil exports after sanctions lifted

Emad Askarieh -
Iran’s deputy oil minister says oil exports will reach 2.3 million barrels, compared with around 1.2 million barrels a day today.
Economy

Report: Turkey in talks to buy Iran fuel oil

Emad Askarieh -
Turkey is discussing imports of fuel oil from Iran which is running a surplus of the product amid a decline in domestic consumption, local media said on Thursday.
Economy

Iran’s return to oil market gradual: Zanganeh

Emad Askarieh -
Zanganeh said oil market stability through balanced supply and demand will remain a priority for OPEC under all circumstances.
Asia

Asia refiners renew Iran crude purchase deal

Emad Askarieh -
Chinese, Indian, South Korean, Japanese and Turkish refiners have all extended their oil purchase contracts with Iran, said Ghamsari.
Energy

Iran breaks US monopoly in production of industrial lubricant

Emad Askarieh -
Iran has broken the US monopoly in production of an industrial lubricant, which is a strategic oil product, says an oil expert.
Energy

Iran seeking to increase oil exports to pre-sanctions level: Minister

Emad Askarieh -
It is expected that the OPEC members provide space for an increase of Iran's oil production in the global markets, said Zanganeh.
Energy

Asia oil buyers set to enhance Iran imports

Emad Askarieh -
If sanctions are removed, there’s a big chance that demand for Iranian oil will recover in Asian nations like South Korea, China and Japan, according to analysts.
Economy

Iran’s light crude price rises by $9

Emad Askarieh -
The government envisages different scenarios with regard to oil prices and prepares itself for any rate, said the economy minister.
Energy

Anti-Iran sanctions will be removed

Emad Askarieh -
The Iranian oil chief has said that the government and its nuclear negotiators have always been under the auspices of the Supreme Leader whose “expediencies and guidance” will help rid the country of sanctions.
Economy

State oil ownership is in contradiction with democracy

Emad Askarieh -
Farhad Nili, the director of the Monetary and Banking Research Institute, has said that an economy without oil can be envisioned for Iran.
Economy

Iran allots $15.2b to develop joint oilfields with Iraq

Emad Askarieh -
Iran has allocated USD 15.2 billon for the development of joint oilfields with neighboring Iraq as part of the Islamic Republic’s plans to increase its oil output.
Energy

Iran sets its sights on joint oil fields

Emad Askarieh -
The Iranian government has devised special plans for the joint oil fields, trying to raise the country’s crude output in four years.
Energy

Zanganeh denies Iran, Russia ‘oil bartering’

Emad Askarieh -
Iran's oil chief Bijan Namdar Zanganeh has ruled out reports that Tehran has signed a deal with Russia to barter oil for essential goods.
Energy

With oil prices in free fall, an OPEC extraordinary meeting is likely: Iranian oil minister

Emad Askarieh -
Consensus among all members will determine whether or not an extraordinary meeting of OPEC should be held in case global oil prices continue to drop, said the Iranian oil chief.
Energy

Iran to unveil 40 great oil projects at London conference

Emad Askarieh -
The oil projects are mainly in connection with South Pars and West Karoun oil fields and could fetch $40 billion worth of investment.
Economy

Non-OPEC members must participate in oil output cut

Emad Askarieh -
Oil Minister Bijan Namdar Zanganeh says it is not only up to OPEC to deal with growing market oversupplies, adding non-OPEC producers should to cooperate to limit oil production.
Economy

Iran’s economy is in for a big shock: Economist

Emad Askarieh -
An Iranian economist says a recent drop in oil prices will probably take a toll on Iran’s economy, complicating government efforts to draft a spending package.
Energy

Oil Minister: Iran has tools to minimize damage by drop in oil prices

Emad Askarieh -
Bijan Namdar Zanganeh says although Iran has been affected by a recent drop in oil prices, it does have the tools to cushion the damage.
Energy

Iran president stresses need to balanced oil price

Emad Askarieh -
The Iranian president says crude price fluctuations will have an adverse impact on global economy.
Energy

Iran’s oil industry needs $200 b. in investment: Minister

Emad Askarieh -
The Iranian oil minister says countries that hold talks with Iran before the lifting of sanctions will have an edge over others that wait until after the sanctions are removed.
Energy

Iran oil reserves to last 60 years: Oil Ministry official

Emad Askarieh -
An official says Iran has large-enough oil reserves to last at least six decades.
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