Iran Oil and Gas News

The next round of crude oil offer on Iran Energy Exchange (IRENEX) will be made by the National Iranian Oil Company on March 4. Offer conditions are the same as the previous round with regard to…

The National Iranian Drilling Company has drilled and repaired 123 onshore and offshore wells over the past 11 months, the company’s deputy managing director for drilling operations said Monday…

Untapped hydrocarbon reserves are huge and encouraging the private sector to enter this key sector should be a priority.

A top US official discussed this week South Korea’s crude oil imports from Iran and urged Seoul to accelerate its oil supply diversification, S&P Global Platts reported on Thursday, quoting…

The National Iranian Oil Company's Exploration Department has discovered 73hydrocarbon fields during the last 40 years, of which 24 are shared with Arab neighbors, head of department said.

Japanese refiners are seeking clarity on whether there will be an extension to the 180-day sanctions waiver from Washington in March, as they hope to continue buying Iranian oil without any…

The fifth round of crude oil offer on Iran Energy Exchange ended Monday with only one cargo (35,000 barrels) out of the one million offer sold on the stock market.  The cargo was sold at $…

Lawmakers on Sunday approved an amendment to next year's (March 2019-20) budget bill obliging the Oil Ministry to offer on a monthly basis 2 million barrels of light crude on the Iran Energy…

The National Iranian Drilling Company, a subsidiary of National Iranian Oil Company, has drilled 4,500 onshore and offshore oil and gas wells since inception in 1980, the company director said…

Oil Minister Bijan Namdar Zanganeh said Sunday China National Petroleum Corporation (CNPC) is still ambivalent after substituting the French energy giant Total in the $4.8 billion South Pars gas…

The National Iranian Oil Company published a notice Wednesday announcing the fifth round of crude oil sale on Iran Energy Exchange to launch on February 18. As per the notice published on the…

Iran's heavy crude oil gained $1.45 or 2.6% per barrel in January compared to December when it was traded at $54.84 per barrel.  Iran Heavy, one of the country's main grades for export,…

After the last two offers of crude oil on the Iran Energy Exchange (IRENEX) ending in vain, officials with the National Iranian Oil Company and capital market say they are determined to continue…

Oil Minister Bijan Namdar Zanganeh says Iran has turned to the sale of Islamic bonds to finance oil projects. "The first sale of bonds to fund our oil output augmentation projects worth $6.2…

India’s Hindustan Petroleum Corporation Limited could buy 0.9 million tons of Iran oil in its 2018/19 financial year, said Vinod S Shenoy, the company’s director of refineries. HPCL bought 0.7…

Oil Minister Bijan Namdar Zanganeh on Tuesday made a rather positive review of the government's projected oil revenues in the proposed budget for the next fiscal that begins in March.

Iran's oil refining capacity has reached 1.95 million barrels per day, indicating a 100% increase over the past four decades.

Iran recoverable crude oil and gas condensates reserves are estimated at 160 billion barrels. According to the Exploration Department of the National Iranian Oil Company, proven gas reserves are…

Manfa’at Sukuk worth 10 trillion rials ($86 million) were sold Monday in Iran Fara Bourse (junior stock market for securities and other financial instruments in Tehran) to help finance oil…

The fourth offering of crude oil at Iran Energy Exchange ended with no deals on Monday, marking the second session of no trade after Iran offered oil on its stock market in October. 

With the help of mobile oil treaters, Karoun Oil and Gas Production Company has prevented 32,000 barrels of oil from being burnt during extraction phases over the past 10 months, the managing…

Rationing and higher prices are needed to help reduce fuel consumption, the oil minister said. "There are a number of proposals on the table but no decision has been taken because of a lack of…

An estimated 400 million liters of oil and other products are transported daily via pipelines, indicating a 65% rise over the last 40 years, managing director of the Iranian Oil Pipeline and…

The Iranian National Oil Company announced in a notice on Monday that the fourth round of crude oil sale will be launched on Iran Energy Exchange on February 4. 

After the third round of crude offer on Iran Energy Exchange ended without any trade last week, a National Iranian Oil Company official announced that the fourth phase would be launched in two…