The CEO of the National Iranian Oil Company (NIOC) said the company would start issuing Rls. 10 billion of fixed-rate (Manfa’at) bonds on February 2 with the aim of financing oil projects.
The construction project of Hengam Petrochemicals Plant has so far made 70 percent physical progress and is continuing as planned, the facility’s CEO said.
The CEO of Isfahan Oil Refinery said the plant would launch its third distillation unit on the occasion of the 40th anniversary of the Islamic Revolution.
Pakistan has decided to establish a joint border market with Iran’s cooperation near Taftan border crossing in Balochistan province, local media reported.
Finance Minister Farhad Dejpasand said on Friday that Iran’s non-oil exports has increased over the past ten months up to January 20 and 85 percent of its imports pertain to raw materials.
The latest statistical report by British Petroleum (BP) suggests that by the end of 2017, Iran was ranked third among the world's largest natural gas producers.
Iran’s petroleum minister, Bijan Zangeneh, appointed new heads for three of main subsidiaries of the ministry. The decision was line with a recently enacted law banning the reappointment of retired managers.
South Pars is the largest gas field in the world, whose development is aimed at supplying gas needs in Iran in the household and business sectors, injecting gas to oil fields, powering industrial units and power plants, feeding petrochemical plants, exporting gas, condensate, liquefied petroleum gas (LPG) and sulfur.
Field-oriented agreements with universities are the turning point in cooperation between the petroleum industry and universities. That started in 2014 and currently nine operating oil fields are exposed to such cooperation for the purpose of enhanced recovery. Previously, universities were individually involved in industrial projects, but under this agreement, the universities are recognized as an element of research projects.