Iran oil

The latest news and views about the Iranian oil industry

Energy

OPEC says Iran’s oil revenues exceed $25bn

IFP Media Wire -
A report released by the Organization of Petroleum Exporting Countries (OPEC) shows Iran has earned more than $25 billion in revenue from oil exports in 2021.
Energy

Iranian official: Oil swap deals revived after visit by Russian, Kazakh delegations

IFP Editorial Staff -
Iranian Deputy Foreign Minister for Economic Diplomacy says the north-south corridor toward Russia has been launched and following a visit by Russian and Kazakh delegations to the Islamic Republic, oil swap deals were revived.
Energy

Iran says ready to increase oil production to balance market

IFP Editorial Staff -
The Iranian oil minister says the country is ready to increase its crude production to pre-sanctions level to strike a balance in the global market.
Economy

Ministry: Iran selling over one million barrels of oil a day

IFP Editorial Staff -
Iran’s oil ministry says the government has managed to avoid imprest funding from the central bank in the first months of the Iranian calendar year (starting from March 21) for the first time in the past years, thanks to an increase in oil export revenues.
Judiciary

Iran busts fuel smuggling cell in Hormozgan Province

IFP Editorial Staff -
The Iranian judiciary officials in the southern Province of Hormozgan say they have arrested three fuel smuggler leaders in the area.
Economy

Iranian official: 60%+ rise in oil revenues in first two months of this year

IFP Editorial Staff -
A spokesman for the Iranian oil ministry says oil revenues earned by the country have increased by more than 60% in April and May compared to the same period last year.
Energy

Qatar FM: Return of Iran crude to market helps stabilize prices

IFP Media Wire -
Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani says the return of Iranian oil to world markets will help stabilize oil prices.
Energy

Business activist: Russia taking over Iran’s share of Chinese oil market

IFP Editorial Staff -
The head of a major Iranian energy union warns that Russia appears to be taking over Iran’s share of the Chinese oil market, saying that Tehran should, in return, try to take the place of Moscow in the European market to prevent a decline in its crude sales.
Energy

Iran to end flare burning at plants: Oil minister

IFP Editorial Staff -
Iran’s Oil Minister Javad Oji says the country has signed 28 contracts worth one billion euros (1.065 billion dollars) to end flare burning at its industrial plants.
Energy

Iran’s oil-rich south at highest readiness level to produce crude: Official

IFP Editorial Staff -
The National Iranian South Oil Company (NISOC) says Iran’s oil-rich south is at the highest level of readiness to produce crude.
Energy

Oil minister: Iran earned $43 billion in oil revenues last year

IFP Editorial Staff -
Iran’s Oil Minister Javad Oji says the Islamic republic earned $43 billion in oil revenues in the Persian year of 1400 which ended on March 20.
Energy

MP: Iran securing its share in oil market

IFP Editorial Staff -
The secretary of the Iranian parliament’s energy commission says Iran is seeking to secure its share of the oil market through its energy diplomacy.
Energy

Minister: Iran’s oil production capacity reached pre-sanctions level

IFP Editorial Staff -
Iran’s Oil Minister Javad Owji says the country’s crude production capacity has reached more than 3.8 million barrels per day (bpd), equaling the levels that existed prior to the imposition of tough American sanctions on the country’s energy industry.
Energy

Iran exported gasoline, gas oil in March 2022 as part of commitments

IFP Editorial Staff -
Iran’s deputy oil minister says the country exported a gasoline shipment as well as three cargoes of gas oil in March, 2022.
Energy

Iran plans a $200bn investment in oil industry

IFP Editorial Staff -
Iran’s Oil Minister Javad Oji says the country needs a $200bn investment in the upstream and downstream and petrochemical industries, the bulk of which has been raised under 50 contracts.
Energy

2nd oil field in Iran’s Fars Province goes on stream

IFP Editorial Staff -
The National Iranian Oil Company (NIOC) says the second oil field in the country’s southwestern Fars Province has officially gone on stream, with an initial production capacity of 9,000 barrels of crude per day.
Energy

Iranian oil minister: 100% of oil revenues returning; exports increased 4-fold

IFP Editorial Staff -
Iranian Oil Minister Javad Oji says Iran has received 100% of its oil revenues and sold crude to countries the US did not even imagine.
Energy

NIOC: Iran ready to supply global market with as much oil as it needs

IFP Editorial Staff -
The National Iranian Oil Company (NIOC) voices the country’s readiness to supply oil to the global market “at a maximum level,” saying Iran’s potential return to the market could effectively help stabilize soaring crude prices.
Energy

Iran’s collection of oil and gas revenues increases 2.5 times

IFP Editorial Staff -
Iran’s oil minister has said in the current Persian year, the collection of revenues from selling oil and condensate, petroleum products, petrochemical products and net exported gas increased 2.5 times while as for gas, this figure has reached 3.5 to 4 times.
Energy

‘Removal of oil sanctions no concession to Iran amid soaring crude prices’

IFP Editorial Staff -
Iran’s Keyhan newspaper has published an opinion piece arguing that the removal of U.S. sanctions against Iran’s oil sector must no longer be regarded as a concession to Iran because this is what America needs right now given soaring energy prices amid the Ukraine crisis.
Energy

Oil ministry signed investment contracts worth $15.6bn in 6 months

IFP Editorial Staff -
Iranian Oil Minister Javad Owji says the ministry has signed investment agreements worth 15.6 billion dollars in the past six months.
Energy

Iran says ready to quick supply of crude in global markets

IFP Editorial Staff -
Iranian Oil Minister Javad Owji says the Islamic Republic is ready to quickly increase its supply of crude to international markets, stressing that it is the consumer countries that should take the necessary steps to facilitate restoration of stability to global markets.
Energy

Iranian oil exports have increased 40 percent despite sanctions

IFP Editorial Staff -
Iran’s minister of economic and financial affairs says the country’s oil exports have increased 40 percent compared to the time when President Ebrahim Raisi took office.
Energy

Iran, Venezuela ink MOU for refinery overhaul

IFP Editorial Staff -
Iran has signed a number of memoranda of understanding with Venezuela to overhaul and renovate the Latin American country’s oil refineries and gas processing plants.
Economy

Iranian govt. oil budget: A return to oil addiction era?

IFP Editorial Staff -
During the examination of the details of the revenue section of the 1401 budget bill, the Iranian lawmakers approved paragraph b of note 1 that determines the ceiling of resources derived from oil revenues
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