Iran plans to boost oil output to 5.7m bpd in 8 years

TEHRAN – National Iranian Oil Company (NIOC) plans to increase the country’s crude oil production capacity to 5.7 million barrels per day (bpd) over the next eight years, Karim Zobeidi, NIOC’s director of corporate planning, said.

Oil, gas condensate output expected to rise next year

TEHRAN – Considering the new resource allocations for the development of the oil industry in the budget bill for the next Iranian calendar year (starts on March 21), the country’s crude oil and gas condensate production is expected to increase by 144,000 barrels per day (bpd) in the next fiscal year.

Iran eyes boosting oil production capacity to pre-sanction level by next March

TEHRAN – Head of the National Iranian Oil Company (NIOC) Mohsen Khojasteh-Mehr has said his company is planning to boost the country’s oil production capacity to the pre-sanction levels or four million barrels by the end of the current Iranian calendar year (March 20, 2022), Shana reported.

Iran determined to boost oil exports despite sanctions: Oji

TEHRAN – Iranian Oil Minister Javad Oji has said the Islamic Republic is determined to increase its oil exports despite the U.S. sanctions on the country’s oil industry, adding that the use of oil sanctions as a "political tool" would harm the market.

Iran to return to oil market in shortest possible time post-sanctions: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh has said his country will return to the oil market in the shortest possible time after the removal of the U.S. sanctions on the country’s oil industry, ISNA reported.

‘NIOC prepared to boost oil output to pre-sanction levels within a month’

TEHRAN – National Iranian Oil Company (NIOC) has taken all the necessary measures and is ready for boosting oil output to the pre-sanctions level within a month, a senior official with the company announced.

Post-sanction Iran able to boost oil output to 6m bpd: Lukoil

TEHRAN - Vice President of Russia’s giant Lukoil Company has said Iran is able to quickly boost its oil output to six million barrels per day (bpd) if the U.S. sanctions are lifted, Russian state-owned Tass reported.

Iran will return to oil market as soon as sanctions are lifted: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh has said Iran is ready to return to the oil market as soon as the nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) is revived and the U.S. sanctions are lifted, Shana reported.

Iran preparing for a strong comeback to oil market

TEHRAN - Iran is gradually boosting crude oil production to get ready for a strong comeback into the global market as the talks with world powers over the 2015 nuclear deal show signs of progress.

Iran ready to raise oil exports to 2.5m bpd post sanctions

TEHRAN – Iran’s First Vice-President Eshaq Jahangiri has said the country is able to increase its oil exports up to 2.5 million barrels per day (bpd) once the U.S. sanctions are lifted.

Iran's oil exports rising in Jan. despite sanctions: trackers

TEHRAN- Iranian oil exports are climbing in January after a boost in the fourth quarter despite U.S. sanctions, Reuters reported based on figures from SVB International and two other firms.

Iran ready to raise oil output to pre-sanction level

TEHRAN - Managing director of National Iranian South Oil Company (NISOC) said on Sunday that Iran is ready to rapidly increase its oil production back to the pre-sanction levels, IRNA reported.

Iran on verge of regaining its oil market share: Bloomberg

TEHRAN – As one of the world’s major oil producers Iran is expected to regain its market share, lost to rivals due to the U.S. sanctions, in case Joe Biden, who is leading in most polls, replaces Trump as the U.S.’s next president, Bloomberg reported.

By Mohammad Mazhari

Reasons why Iran backs Venezuela

As two oil-producing countries under U.S. sanctions, Iran and Venezuela have been working in recent years to strengthen geopolitical ties to relieve U.S. pressure and find a solution to improve their economies.

Iran's oil production not halted by coronavirus outbreak: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh says the coronavirus outbreak has not halted oil production in the country, Shana reported.

By Haniyeh Sadat Jafariyeh

Intl. oil market cornered by coronavirus, Iranian economy remains resilient: energy expert

TEHRAN – President of Vienna Energy Research Group believes the Iranian economy was oil-reliant but the country learnt, under US sanctions, how to scaffold its oil industry and economic structure over the years. Presently, Iran is not a loser in the coronavirus-hit global oil market.

Iran’s January oil output at 2.086m bpd: OPEC

TEHRAN - Iran produced 2.086 million barrels per day (bpd) of oil in January, a 9,000-bpd decrease from 2.095 million bpd in December 2019, according to OPEC’s latest monthly report published on Wednesday.

No limitations on Iran’s oil output acceptable: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said Iran would not accept any limitations on its oil output and will produce at its full capacity when the U.S. sanctions are removed, Shana reported.

Oil output could easily be restored to pre-sanction levels: Zanganeh

TEHRAN - Iran’s Oil Minister Bijan Namdar Zanganeh has denied the idea of U.S. sanctions’ long-term impact on the country’s oil production and exports capacity, saying output could be back to normal very quickly once the sanctions are removed.

Iranian heavy crude oil price rises $1.77 per barrel in July: OPEC

TEHRAN- Iranian heavy oil price increased $1.77 in July, according to OPEC’s latest monthly report published on Friday.

Iranian oil irreplaceable, Zanganeh says

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said no country can replace Iranian oil in the global market, Mehr news agency reported on Sunday.

Daily gasoline output to surpass 110m liters soon

TEHRAN- The daily production of gasoline in Iran will exceed 110 million liters in the upcoming week to mark a new record in the country’s gasoline production history, Tasnim reported, quoting Iranian oil minister as saying on Sunday night.

Iran produced 4.156m bpd of crude oil in 2018: BP

TEHRAN– Major multinational oil and gas company British Petroleum (BP), in its latest world energy report called “BP Statistical Review of World Energy”, has put Iran’s crude oil production at 4.156 million barrels per day (bpd) in 2018.

Oil production in Iran’s flood-stricken regions back to normal

TEHRAN – Oil fields in flood-stricken regions of Khuzestan Province in southwestern Iran are once again operational and the production is back to normal, IRNA reported on Sunday.

Iran’s offshore oil production steady: IOOC

TEHRAN – The managing director of Iranian Offshore Oil Company (IOOC) said the country’s offshore oil production hasn’t experienced any reduction and some of the May cargoes have been loaded to be shipped, Bloomberg reported.

Iranian heavy crude oil price rises $2.78 per barrel in March.: OPEC

TEHRAN- Iranian heavy oil price increased $2.78 in March, according to OPEC’s latest monthly report published on Tuesday.

West Karoun oil fields’ output at 350,000 bpd

TEHRAN- Production of oil from West Karoun oilfields has reached 350,000 barrels per day (bpd) in the current Iranian calendar year (ends on March 20), the managing director of Iran’s Petroleum Engineering and Development Company (PEDEC) told IRIB in an interview.