Domestic firms ink MOUs to conduct development study on Azadegan field

TEHRAN – National Iranian Oil Company (NIOC) has awarded the development study of Azadegan oil field to five domestic companies, Shana reported.

NIOC awards Farzad-B gas field development project to domestic firm

TEHRAN – National Iranian Oil Company (NIOC) has signed a $1.78 billion deal with a domestic company called Petropars for the development of Farzad-B gas field in the Persian Gulf, Shana reported.

NIOC outlines HSE priorities for major subsidiaries

TEHRAN – Managing Director of the National Iranian Oil Company (NIOC) has outlined the main Health, Safety and Environment (HSE)-related priorities of the company to its major subsidiaries namely Iranian Offshore Oil Company (IOOC), National Iranian South Oil Company (NISOC), and Iranian Oil Terminal Company (IOTC).

Iran ranks 1st in world oil, gas discovery in 2019

TEHRAN- The National Iranian Oil Company (NIOC) ranked first among the world's largest oil companies in terms of total oil and gas discovery in 2019, with the discovery of 4.973 billion barrels of equivalent hydrocarbon reserves, Shana reported on Monday.

Deals worth €1.5b inked to boost oil output

TEHRAN – Two subsidiaries of the National Iranian Oil Company (NIOC) signed deals worth €1.527 billion with domestic companies on Monday, aiming to add 185,000 barrels per day to the country’s oil production capacity.

NIOC’s exploratory drillings surpass 13,000 meters

TEHRAN – National Iranian Oil Company (NIOC)’s Exploration Directorate has managed to drill nine exploratory wells with a total depth of 13,281 meters in the current Iranian calendar year (ends on March 19), Shana reported on Sunday, quoting an official with the company.

NIOC to renovate southern oil facilities

TEHRAN – National Iranian Oil Company (NIOC) is following a program to renovate all the country’s old and worn-out oil facilities, IRNA reported quoting a senior official with the company.

Oil ministry announces new terms for offerings at IRENEX

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh on Monday released a statement in which new regulations and procedures for offering oil and gas condensate at Iran Energy Exchange (IRENEX) were listed, Shana reported.

Oil ministry inks 26 major research-based deals with universities

TEHRAN – Iranian deputy oil minister for engineering, research and technology affairs said the ministry has signed 26 major deals with the country’s universities, IRNA reported.

NIOC to revise regulations of oil offering at IRENEX

TEHRAN – National Iranian Oil Company (NIOC) has once again decided to revise the regulations pertain to the offering of oil at the country’s energy exchange (IRENEX), IRNA reported on Friday, quoting an NIOC official.

Offering oil at IRENEX continues: NIOC

TEHRAN – National Iranian Oil Company (NIOC)’s representative in Iran Energy Exchange (IRENEX) said that the company will continue offering oil at IRENEX after a few week of hiatus due to technical problems.

PEDEC signs deal with domestic firms for manufacturing electro pumps

TEHRAN – Iran’s Petroleum Engineering and Development Company (PEDEC) signed deals with three Iranian companies on Monday for manufacturing and maintaining electro pumps for an oil pipeline project in southern Iran.

Over 62,000 tons of LPG sold at IRENEX to foreign buyers

TEHRAN – Some 71,000 tons of liquefied petroleum gas (LPG) was offered at the international ring of Iran Energy Exchange (IRENEX) on Monday of which over 62,000 tons was sold to foreign buyers, IRNA reported.

‘NIOC to award South Pars oil layer to a domestic company under IPC’

TEHRAN – National Iranian Oil Company is going to award the development project of the South Pars oil layer to a domestic company, under Iran’s new model of oil contracts (known as IPC), NIOC director of integrated planning told IRNA.

NIOC to offer 2m barrels of condensate at IRENEX in 8th round

TEHRAN- National Iranian Oil Company (NIOC) will offer two million barrels of gas condensate at Iran Energy Exchange (IRENEX) on Tuesday, Shana reported.

Iran indigenizes monitoring systems in gas transmission

TEHRAN – Head of National Iranian Gas Transmission Company (NIGTC) announced that Iranian experts have achieved the know-how for producing vibration monitoring and protection systems for gas transmission lines.

‘Iran determined to continue offering oil at IRENEX’

TEHRAN - National Iranian Oil Company (NIOC)’s representative in Iran Energy Exchange (IRENEX) said NIOC will continue offering oil at IRENEX, Mehr news agency reported.

By Mahmood Khaghani

From Bazaar to Bourse

On 20th May 2019, the Shana news agency reported that NIOC on the instructions of the Ministry of Petroleum will undertake, pursuant to the current Iranian year budget law, a sales programme of six million barrels per month of Iranian Light and Heavy Crude Oil and Iranian gas condensates on the IRENEX exchange platform. These sales will be priced in US dollars against UK Brent/BFOE (BWave) and Dubai US $ price benchmarks. I am unaware of any reason why this programme should be any more successful than the last, but it is possible that potential buyers have been discreetly found who are willing and able to buy this material.

NIOC in talks with Chinese company for South Pars phase 11 project: Zanganeh

TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said National Iranian Oil Company (NIOC) is in talks with a Chinese company for completing the South Pars phase 11 project, Mehr news agency reported.

Iran to award 5 oil projects to domestic firms in near future

TEHRAN – National Iranian Oil Company (NIOC) is planning to award five oil exploration and development projects to domestic companies, ISNA reported quoting an official with NIOC.

IRENEX to hold 8th round of crude oil offering today

TEHRAN- National Iranian Oil Company (NIOC) will offer one million barrels of crude oil at the base price of $63.36 at Iran Energy Exchange (IRENEX) for the eighth time today, ISNA reported.

5th round of offering oil at IRENEX on Feb. 18

TEHRAN- National Iranian Oil Company (NIOC) will offer one million barrels of light crude oil at Iran Energy Exchange (IRENEX) for the fifth time on February 18, Shana reported on Wednesday.

Iran’s recoverable liquid hydrocarbon reserves at 160 b barrels: NIOC

TEHRAN- National Iranian Oil Company (NIOC) in a recent report has put the country’s recoverable liquid hydrocarbon reserves at 160.12 billion barrels, IRIB reported on Tuesday. The report also put Iran’s recoverable natural gas reserves at 33.33 trillion cubic meters.

NIOC inks deals worth $1b with domestic companies to boost output

TEHRAN – Subsidiaries of the National Iranian Oil Company (NIOC) signed nine deals worth $1 billion with domestic contractor companies for maintaining and increasing the production capacity of the country’s aging oil and gas fields, Shana reported.

NIOC to award exploration projects to domestic companies

TEHRAN- National Iranian Oil Company (NIOC) will transfer exploration projects for oil and gas fields to domestic companies, the director of NIOC's Discovery Department announced on Tuesday.

Karbasian named as new NIOC director

TEHRAN- Iranian Oil Minister Bijan Namdar Zanganeh on Sunday appointed Masoud Karbasian, a former economy and finance minister, as the new managing director of the National Iranian Oil Company (NIOC), replacing Ali Kardor.

NIOC to continue selling oil at IRENEX

TEHRAN- Selling crude oil at Iran Energy Exchange (IRENEX) will be continued, Saeed Khoshrou, director of international affairs at the National Iranian Oil Company (NIOC), announced.

700,000 barrels of oil sold at IRENEX

TEHRAN- National Iranian Oil Company (NIOC) sold 700,000 barrels of light crude oil at Iran Energy Exchange (IRENEX) at the price of $64.97 per barrel on Sunday, the second offering day of oil at the capital market, Tasnim news agency reported.

By Haniyeh Sadat Jafariyeh

IRENEX to overcome U.S. petroleum sanctions?

Last Sunday on October 28, just few days before new U.S. sanctions on petroleum sector take effect (November 4, 2018), National Iranian Oil Company (NIOC) could sell some 280,000 barrels of crude oil at $74.85 per barrel on the first day of offering crude oil for export at the international ring of Iran Energy Exchange (IRENEX). With the daily supply value of one million barrel per day, the market wrapped up by selling eight 35,000-barel-cargos of oil on the day.