TEHRAN (Shana) -- The oil and gas facilities of the National Iranian Oil Company are operating normally and their condition is stable despite a 5.9-magnitude earthquake that hit southern Iran on Sunday, April 18, 2021.
TEHRAN (Shana) -- The Director of Health, Safety, Environment and Passive Defense of the National Petrochemical Company said: “The earthquake this morning in Khuzestan and Bushehr provinces did not cause any damage to petrochemical complexes and projects.”
TEHRAN (Shana) -- The CEO of Parsian Sepehr Refining Company said Parsian Sepehr Refining Project is developed to supply 1.3 million tons per year of ethane to olefin units in the petrochemical industry of the country.
TEHRAN (Shana) -- The CEO of Sepehr Energy Holding said that Sabalan Petrochemical Plant will be officially commissioned in the coming weeks as one of the three methanol-producing petrochemical projects of the holding with a capacity of 1,650,000 tons per year.
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the country had enhanced its petrochemical production capacity BY 21.5 million tons per year during the calendar year of 1399 which ended on March 20.
TEHRAN (Shana) -- Iran was importing gasoline until two years ago. In 2018, Iran imported up to 4.5 ml/d of gasoline. It is now exporting gasoline to regional and world nations. In light of the commissioning of the Bandar Abbas Condensate Refinery, known as the Persian Gulf Star, Iran became an active exporter of this strategic product during the first seven months of the current calendar year, earning about $1.4 billion in revenue. This report reviews the current condition of gasoline export and diversity in refined petroleum products supplied by the treatment facility.
TEHRAN (Shana) -- Documents and artefacts are the main items in the Petroleum Industry Directorate of Museums and Documents. They are instrumental in preserving the history of Iran’s petroleum industry. The Directorate started work effectively in 2014 and has since gathered documents, audiovisual and written references as well as artefacts and old items and tools. In this newly-established center, regulations and protocols including identification, gathering, restoration, preservation and documentation for prospective use by researchers, students and professors have been highly respected.
TEHRAN (Shana) -- Since early December crude oil prices have staged an impressive comeback. Brent crude price has shot up from $40 a barrel in early December to $67.20 on 25 February 2021. The question is how high oil prices are destined to go this year and next.
TEHRAN (Shana) -- Oil sanctions against Iran remain effective. But the country says it would export 2.3 mb/d of oil and condensate this year. Many experts believe that Iran’s return to the oil market is unlikely to cause any shock.
TEHRAN (Shana) -- Some 120 kilometers southeast of the southern Bushehr Province, Iran owns a gas field holding over 57 tcf of gas in place. North Pars is among fields with high potential for investment. The field is estimated to require $16 billion in investment, including $5 billion in the upstream sector and $11 billion in the downstream sector (mainly LNG plants).
TEHRAN (Shana) -- The coronavirus has given our planet a new chance to breathe. Travel rates have dropped sharply. Demand for oil and petroleum products has been falling since the outbreak of the pandemic. Oil wells and refineries across the globe are shutting down one after another. Despite the historic OPEC+ agreement for oil production cut, oil price slump has not stopped. However, there is no sign of increased demand for oil and petroleum products in the market.