Petropars to Boost South Azadegan Oil Output by 10,000b/d

The CEO of Petropars Group said it has recently signed a contract with Dana Energy Company for drilling 10 new wells in South Azadegan Joint field.

Iran exports over 18,000 tons of goods to Iraq through Mehran border

Iran has exported 18,884 tons of commodities to Ira through Mehran border since the beginning of the current Iranian calendar year (March 20), IRNA reported quoting an official as saying on Tuesday.

South Pars Phase 22-24 Gas Recovery up 200 mcf

The head of the offshore section of South Pars 22-24 phases development project said 3 new wells had become operational in the project which added 200 mcf to the phases’ gas output.

$MOP Supports Domestic Manufacturing with Int\'l Standards: Min.$

MOP Supports Domestic Manufacturing with Int'l Standards: Min.

Iranian Minister of Petroleum Bijan Zangeneh said his ministry would support domestic manufacturing by observing international standards in the oil industry.

Continued European Demand for Iran Petchems

The CEO of Nirouchlor Company said that the company’s exports to Europe, despite the restrictions caused by the coronavirus in the world, reached about 5,000 tons.

Iran Raises Crude Oil Output at North Yaran

The third generation of sucker-rod pump (SRP) was installed for the first time in West Karoun oil fields cluster at well No. 14 of North Yaran field and increased the oil production capacity of this joint field by 500 b/d.

Iran Eyes 80% Enhanced Petchem Revenue by March 2021

The CEO of the National Petrochemical Company said Iran’s petrochemical production capacity would increase by 60% this year, adding by launching 17 projects, Iran’s petrochemical revenue would increase by 80 percent by the end of the current Iranian calendar year which began on March 20

NIDC to deploy 15 drilling rigs in southern oil fields within 3 months

Head of National Iranian Drilling Company (NIDC) says 15 drilling rigs from the company's fleet have been based in operational sites in the National Iranian South Oil Company (NISOC)’s 28-reservoir development projects in southern Iran.

Oil ETPs - the perils of trading crude like a stock

A historic plunge in oil prices in the wake of the COVID-19 pandemic has highlighted the risks of oil-focused exchange-traded products (ETPs).

Gas production, distribution stable in country: NIGC managing director

The managing director of the National Iranian Gas company (NIGC) announced that gas production, transfer and distribution is stable in the country despite coronavirus outbreak, Shana reported.

OPEC, allies reach primary agreement to balance oil market

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said on Friday that the Organization of the Petroleum Exporting Countries (OPEC) and its allies have reached an agreement for cutting their oil output by at least 10 million barrels per day (bpd) in the upcoming months of May and June, Shana reported.

Russia, Saudi end oil feud but is it enough?

TEHRAN – The Organization of Petroleum Exporting Countries (OPEC) and their non-OPEC allies, on Thursday, reached a tentative agreement to cut the global oil output by at least 10 million barrels for May and June to balance the oil market which literary doesn’t have any more capacity to store the supplied oil.

Oil prices rise on optimism OPEC+ meeting will result in supply cut

Brent crude futures rose 1.2%, or 41 cents, to $33.25 a barrel as of 0529 GMT. The contract rose to an intra-day high of $33.90, climbing for a second day. U.S. West Texas Intermediate (WTI) crude futures were up 3.3%, or 82 cents, at $25.91 a barrel, after earlier climbing by as much as 6.1%.

Oil prices jump 8% on stimulus hopes, spending cuts by US producers

Brent hit a session high of $38.22 a barrel, and US crude hit $34.60

Citing past success, Mexico seeks to mediate Russia, Saudi Arabia oil row

Mexico and other nations are seeking to mediate between Russia and Saudi Arabia to end a price war that has battered world markets, Mexico’s finance minister said on Tuesday, citing his country’s prior experience in calming a crude producer feud.

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