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Iran offers discounts of up to $8.5 a barrel for oil sold at local bourse
Dec 18, 2019 16:33The National Iranian Oil Company (NIOC) is offering significant discounts for a planned sell-off of crude and condensates in a local energy bourse as the government tries to use the mechanism to bypass the American sanctions imposed on direct oil exports.
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How technology is aiding the oil, gas industry
Dec 17, 2019 20:21The oil and gas industry is adopting technology at a faster pace with a view to improving its efficiency and remaining relevant in the dynamic digital environment. These companies are revamping their operations, which helps them remain competitive in the modern-day playing field. Technology has helped turn the fortunes of many companies around.
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US sanctioning Iran to make room for its shale oil: Zangeneh
Dec 17, 2019 14:56Iran’s Minister of Petroleum Bijan Zangeneh says US sanctions on the Iranian oil industry, apart from being a measure of political pressure, aim to open up the world oil market to American shale oil.
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Iran inventing new mechanisms to circumvent US oil sanctions: Official
Dec 13, 2019 06:50A senior Iranian official has said that the government has come up with new initiatives to circumvent the oil sanctions imposed by the United States.
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Iran says Russia’s demand from OPEC+ on condensates rightful
Dec 06, 2019 07:07Iran has backed Russia’s request from the Organization of the Petroleum Exporting Countries (OPEC) that oil condensates should not be included in the country's overall output figures as others suggest Moscow is violating a pact meant to reduce the global supply.
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Iran’s petrol price hike cuts fuel use by 20 million liters
Nov 27, 2019 17:46Minister of Petroleum Bijan Zangeneh says the government’s introduction of petrol rationing and price hikes this month has cut gasoline consumption by about 20 million liters per day.
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Iran begins gasoline rationing, raises prices
Nov 16, 2019 09:14Iran has begun rationing on the purchase of gasoline and substantially increased the price of fuel in a move to assist the needy.
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Six million barrels of oil, condensates ready for trade at Iran's bourse
Nov 13, 2019 20:13The National Iranian Oil Company (NIOC) is preparing for three big trades involving six million barrels of oil and condensates in a local bourse next week.
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Zangeneh: New oil field is Iran's second largest
Nov 11, 2019 12:32Iran's Minister of Oil Bijan Namdar Zangeneh says a new oil field discovered in southwest Khuzestan Province is the country's second largest reservoir.
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Iran to release details of massive oilfield discovered in south: Reports
Nov 10, 2019 20:35Oil minister is due to give more details about a massive oilfield that has been discovered south of the country.