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November 30 2015
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Iran new oil contract comes under criticism

- A day after Iran's Ministry of Petroleum unveiled a new format for investment in its oil and gas sector, criticism is rising that future contracts with foreign companies are poised to compromise national interests and incur big losses. - 11/29/15

The Tehran Summit: Iran's biggest oil investment event opens

- An important conference opens in Tehran to lay out 50 oil and gas projects for development through foreign investment which Iran hopes to trickle in with the lifting of Western sanctions. As many as 250 representatives of companies from 33 countries are attending the conference which will also feature Iran's introduction of a new contract format offering better incentives to investors than the previous buy-back deal. - 11/28/15

After summit in Tehran, GECF urges cooperation over market issues

- A landmark summit of the Gas Exporting Countries Forum (GECF) wrapped up in Iran's capital Tehran on Monday evening. The GECF member states at the end of the summit issued a declaration that underscored the need to facilitate stronger cooperation over a series of industry issues including the transfer of expertise and pricing mechanisms. - 11/24/15

GECF summit opens in Tehran

- A landmark summit of the Gas Exporting Countries Forum (GECF) has opened in the Iranian capital Tehran with the participation of the heads of nine member states. Presidents of Iran, Russia, Venezuela, Iraq, Bolivia, Equatorial Guinea, Nigeria, Turkmenistan as well as the Algerian prime minister are the key participants. - 11/23/15

US conglomerate General Electric sees opportunities in Iran

- GE Oil and Gas, the US conglomerate General Electric's oil division, says it sees opportunities in Iran as foreign firms are holding their breath for a lifting of sanctions to return to the country. - 11/22/15

Gas-rich nations meet in Tehran ahead of summit

- An extraordinary meeting of gas exporting countries has begun in Tehran ahead of a Monday summit which will gather several leaders, including Russian President Vladimir Putin, to discuss issues related to gas production, exports and pricing. - 11/21/15

Obama says no more reductions of Iran oil purchases

- US President Barack Obama emphasized on Wednesday that Washington will not seek future reductions of oil purchases from Iran and is committed to keep Tehran's oil export at the levels of 2013. - 11/19/15

Growth, Energy and Climate: a View From Iran

- For the past several months most Iranians have been caught up in a "wait-and-see" collective mindset. Below the surface, in the murky shadows, movement can be detected amongst gigantic coiled up springs waiting for the starting gun. These gargantuan springs come in many shapes and forms. -Daryan Rezazad, Counterpunch - 11/19/15

Iran to host 9 heads of state in GECF summit: Oil Minister

- Iran's oil minister says the Islamic Republic will be hosting nine heads of state and a large group of other dignitaries during the third summit meeting of the Gas Exporting Countries Forum (GECF). - 11/18/15

Iran lines up $25 billion energy investment

- Iran has put together a package for $25 billion of investment in its booming power industry which is key to the country's economic recovery, head of Iran Power Transmission, Generation and Distribution Company (Tavanir) says. - 11/15/15

Iran signs second gas deal with Iraq

- Iran has signed a new contract with Iraq to export natural gas to the country's southern port city of Basra. Based on the contract, Iran will pipe a daily of 20-25 million cubic meters (mcm/d) of gas for Basra for a period of six years. The supply - that will increase to 45-60 mcm/d in a later stage - will be used to feed the main power plant of the city. - 11/12/15

Iran unveils long-awaited oil contracts

- Iran's Ministry of Petroleum publishes the new framework of oil and gas contracts which will be presented formally to foreign companies in a conference in Tehran later this month. The Iran Petroleum Contract (IPC), published on the website of the ministry's Shana news agency, was given the go-ahead by the government for implementation. - 11/11/15

Russia, Iran plan Caspian oil, gas swap

- Russia and Iran plan oil and gas swap as part of their new push to step up trade which is relatively minuscule compared with their strong political ties. Representatives of a major Russian energy company will arrive in Tehran soon for discussions on swap of crude oil, oil products and gas, Iran's Deputy Petroleum Minister Amir Hossein Zamaninia said on Monday. - 11/3/15

Italy's Eni and France's Total ready to return to Iran

- Eni's Chief Upstream Officer Antonio Vella told an energy forum in Tehran that the company plans to use the latest technologies in Iran's oil projects, stressing that this is crucial in decreasing the project costs. Another European oil major - France's Total - also announced at the same forum in Tehran on Monday that it is ready to provide the loans required for the development of Iran's oil sector projects - 10/20/15

Russia's Energy Minister Novak due in Iran for important visit

- Russian Energy Minister Alexander Novak will visit Iran on Oct. 21 at the head of a large economic delegation to discuss expansion of bilateral trade. In Tehran, Novak will meet Iran's Minister of Petroleum Bijan Zangeneh and other officials as the two countries seek to increase bilateral trade to $10 billion a year from $2 billion at present. - 10/16/15

Iran to launch over 50 new oil projects

- Iran says it plans to introduce above 50 new oil projects to international investors in what will be a key section of the country's plans to boost oil production in an emerging post-sanctions era. - 10/8/15

Shell, Total get first gas stations in Iran

- Royal Dutch Shell and France's Total are the first foreign companies ever to win access to Iran's retail energy market after getting permit for 200 service stations which they will set up across the energy-rich country. ​ - 10/2/15

Iran inks gas deal as Omani minister visits

- Iran and Oman have signed an agreement on studying an undersea gas pipeline across the Persian Gulf in a project worth $60 billion, managing director of the National Iranian Gas Exports Company (NIGEC) says. - 9/21/15

India's OVL submits $10bn proposal to develop Iran gas field

- India's ONGC Videsh Ltd (OVL), which is the overseas arm of the state-owned Oil and Natural Gas Corp, has offered a proposal worth USD 10 billion for development of Iran's Farzad B offshore gas field. - 9/18/15

EU sees Iran as major gas supplier

- The European Commission estimates that Iran could become a major natural gas supplier to the European Union by the next decade, a new report says. According to an EU official, cited by the Wall Street Journal, the bloc could import up to 35 billion cubic meters of gas a year from Iran by 2030 that would help reduce dependence on Russian shipments. - 9/15/15

Iran drops oil price to grab market share

- Latest trading data figures show Iran has lowered the quarterly price for its flagship crude to the lowest in three years in a bid to lure Asian buyers to lock in more term supplies next year. - 9/11/15

Baku tells Tehran to join EU gas pipeline plan

- Iran's media say Azerbaijan has officially proposed to Iran to join a key project to export natural gas to Europe. Azerbaijan reportedly wants to engage Iran in gas exports to Europe through the Trans Adriatic Pipeline (TAP). - 8/19/15

Iran gets first ever associated gas offer

- A French company has proposed to buy associated gas from an offshore Iranian oilfield in the Persian Gulf in order to convert it into LNG, Minister of Petroleum Bijan Zangeneh says. The offer marks the first of its kind to Iran by a foreign company to use natural gas associated with oil production instead of burning it off as the country often does in a practice known as flaring. - 8/18/15

Big Oil in Retreat

- The plunge of global oil prices began in June 2014, when benchmark Brent crude was selling at $114 per barrel. It hit bottom at $46 this January, a near-collapse widely viewed as a major but temporary calamity for the energy industry. Such low prices were expected to force many high-cost operators, especially American shale oil producers, out of the market, while stoking fresh demand and so pushing those numbers back up again. -Michael Klare, LobeLog - 8/15/15

Iran unveils first oil project under new model

- Iran plans a $2.2 billion development of a field shared with Iraq to produce 50,000 barrels of oil per day, an official says, marking the first introduction of major energy projects under a new contract. - 8/14/15

Iran orders extra 500,000 bpd oil output

- Minister of Petroleum Bijan Zangeneh has ordered oil production and exports to be ramped up by 500,000 barrels per day in preparation for the removal of sanctions on Iran, a news agency says. - 8/12/15

Iran says can transit Qatar gas to Europe

- Iran has raised a new option to export natural gas to Europe which it says involves extra supplies from Qatar. Mohsen Jalalpour, the president of Iran Chamber of Commerce, Industries, Mines and Agriculture, has told reporters Iran can take Qatar's gas and transit it to Turkey to be pumped to Europe. - 8/11/15

Iran to unveil new oil contracts in London

- Iran will introduce its new oil contracts to a London conference planned for December as the country seeks to boost recovery from its fields with the help of foreign companies, Minister of Petroleum Bijan Zangeneh says. Energy officials have said Iran has identified nearly 50 oil and gas projects worth $185 billion up for grab. - 8/8/15

Collective Security in the Caspian Sea: Iran has conflicts of interests with all 4 other countries in the Caspian Sea

- Recently, the Iranian and Russian officials are talking about agreement for a collective security in the Caspian Sea. Also, in the past, there has been proposals in the same field which include the decisions made in the Baku Summit Conference of the Caspian Sea states regarding security cooperation in the Caspian Sea based on a Russian proposal. -Bahman Aghai Diba - 8/4/15

India seeks to salvage reckless loss in Iran

- Indian oil minister plans to visit Tehran at the head of a delegation to win back development of a major gas field, which New Delhi lost by dawdling under US pressures. Dharmendra Pradhan will visit on the heels of Indian Finance Secretary Rajiv Mehrishi who traveled to Tehran with officials from the finance, petroleum and natural gas ministries and the Reserve Bank of India. - 8/4/15

Iran sees 'new chapter' in ties with Total

- Minister of Petroleum Bijan Zangeneh says Iran welcomes French energy giant Total's return to the resource-rich country amid Tehran's drive to step up oil and gas development projects after the removal of sanctions. Zangeneh made the announcement after meeting French Foreign Minister Laurent Fabius who visited Tehran to "revive relations" after the finalization of nuclear talks between Iran and the P5+1 group of countries. - 7/30/15

India pushing to revive Iran gas pipeline

- With a delegation headed to Tehran soon, Indian officials will push for the revival of the $7 billion gas pipeline from Iran which has to cross Pakistan, a New Delhi-based newspaper says. India dropped out of the massive project under US pressures but a recent opening in the business environment in Iran has prompted Indian leaders to make a fresh bid for the pipeline, the Economic Times reported, citing informed sources. - 7/30/15

Iran builds $2.5 billion power plant in Iraq

- Iran is building a natural gas combined cycle power plant in Iraq's Basra at a cost of $2.5 billion in the Persian country's biggest engineering services deal yet. - 7/27/15

Iran, Europe finalize $2B of projects: $178B more to go

- Iran and the EU have opened a conference on trade and investment in Vienna, with Iranian officials pledging to splash out more than $180 billion on oil and gas projects. - 7/23/15

Iran's oil delegation in Vienna to discuss petchem investment

- An Iranian oil industry delegation has set off for Vienna to introduce investment opportunities in Iran's petrochemical industry to European investors following the removal of international sanctions against Iran. - 7/22/15

Historical background of the Caspian Sea as a legal point in favor of Iran

- A review of the last rounds of negotiations between Iran and the other Caspian littoral states, including the deliberations made and decisions adopted in the several summit meetings of the Caspian states, reveal that Iran has failed to persuade the other Caspian states to consider a fair and equitable share for Iran (at least 20 percent) of the Caspian Sea. -Bahman Aghai Diba - 7/20/15

US oil service giants yearn for return to Iran

- Halliburton and Schlumberger, both among the world's largest oilfield services companies, are waiting in hopeful anticipation that Iran will ramp up oil exports, US media have said. - 7/20/15

Pakistan Hopes to Benefit from Iran Deal, With Chinese Help

- Pakistan has been planning to build a pipeline to import natural gas from Iran for years, but work on the proposed Iran-Pakistan pipeline stalled due to international economic sanctions on Iran in response to its nuclear development program. -Ayesha Tanzeem, VOA - 7/18/15

Drought takes a toll on Iran's hydropower

- Iran's hydroelectricity generation is flickering out amid a protracted drought which has drained dams across the country to their lowest ebb ever. Hydropower normally makes up 14% of Iran's overall electricity mix, but this share has declined to less than five percent - 7/13/15

The Future of Saudi-Iranian Relations Will Be Written in Oil

- Saudi Arabia's cantankerous objections to nuclear talks with Iran have run counter to U.S. goals and have left some puzzled over the cause of its combative behavior. A deal with Iran, of course, means much more than a stride toward global non-proliferation. It will open new realms of possibility within both Iranian and American polities -Henry Johnson - 7/12/15

Iran's oil income hits $53.6b in 2014: OPEC

- Iran's oil income amounted to $53.6 billion in 2014, the Organization of Petroleum Exporting Countries (OPEC) reported, ranking Iran 9th among 12 member states. The country's oil income dropped by $8.3 billion in 2014 compared with the year before. - 7/12/15

Analyst: Ending Iran Sanctions Could Push Down Oil Prices

- Iran's economy has been hammered by a series of sanctions that have pushed it into recession, slashed the value of its currency, sparked soaring inflation, and hurt its oil sector. If and when Iran works out a deal with the United States and other nations to limit its nuclear program, some of those sanctions will end. - Jim Randle, VOA - 7/11/15

Saudi Arabia Casts Wary Eye on Iran Deal

- As Iran and world powers move toward a possible nuclear deal, Saudi Arabia faces drastic geopolitical shifts. Analysts say lifting sanctions on Iran could greatly increase competition for oil sales, as well as create other far-reaching consequences for the kingdom. -Heather Murdock, VOA - 7/9/15

Kish gas field in Persian Gulf to produce 9 billion cubic meters natural gas per year

- Kish gas field near the southern Iranian island of Kish will produce 9 billion cubic meters (bcm) of gas per year when its development plan is finished. According to the Iranian media, Iran Economy Council has made a decision in its latest session, which was attended by First Vice President Eshaq Jahangiri and Oil Minister Bijan Zanganeh, to allocate USD 1.4 billion to the development of the field. - 7/9/15

Iran vows to double oil exports after sanctions lifted

- Iran said on Sunday that it has serious plans to increase its oil exports to almost double the current levels after sanctions against the country are lifted. "We are like a pilot on the runway ready to take off. This is how the whole country is right now," Mansour Moazami, Iran's deputy petroleum minister for planning and supervision affairs, told the Wall Street Journal. - 7/6/15

Germany's petchem giant Basel to invest in Iran

- Iran's media reported on Sunday that Germany's Basel petrochemical giant plans to invest above $300 million in Iran. Reports say the investment will be made in an Iranian petrochemical project and will also include the transfer of technology. - 6/29/15

Iran holds world's largest gas reserves

- World proven natural gas reserves at end-2014 stood at 187.1 trillion cubic metres (tcm), sufficient to meet 54.1 years of global production. Proved reserves grew by 0.3% relative to end-2013. Growth in Russia (+0.4 tcm), Azerbaijan (+0.3 tcm) and the US (+0.2 tcm) accounted for all of the gross increase in global proved reserves in 2014. Iran (34.0 tcm) and Russia (32.6 tcm) hold the largest proved reserves. - 6/28/15

Record rise in foreign investments in Iran

- Iran's media reported on Saturday that foreign investments in the country had seen an unprecedented three-time rise in the second quarter of 2015. Foreign investments in Iran over the period had reached as high as $3 billion. The figure was higher than the total of $2.1 billion of foreign investments made in the country from March 2014-2015. - 6/28/15

Iran accelerates drilling of largest oilfield

- Iran has accelerated drilling of its largest oilfield which it shares with Iraq in order to catch up with its western neighbor in production, an energy official has said. The National Iranian Drilling Company (NIDC) has completed the drilling of six wells since taking over from the state-run China National Petroleum Corporation's (CNPC) which had its contract cancelled in May 2014 due to repeated delays. - 6/26/15

Not Waiting For Nuclear Deal, Shell, Other Oil Firms In Talks With Iran

- Executives from Royal Dutch Shell and Eni have met Iranian officials in Tehran to discuss investing in the country's energy industry, the first time international oil firms have publicly confirmed such talks ahead of a possible nuclear deal with the West, the Financial Times has reported. - 6/25/15

Iran sets goal to be second place gas producer in the world

- Iran expects its gas production to grow 71% in the next four years, putting the country on course to take over as the second biggest gas producer, an official said on Thursday. - 6/19/15

Iran's crude exports bounce back after sanctions stranglehold

- The International Energy Agency reports that Iran's crude exports in May of 2015 made a big jump after being dragged down three years ago by the tightening of international sanctions on the country's petroleum exports. - 6/15/15

Iran hits new record in natural gas production

- Managing director of the Iranian Gas Transmission Company says the country has hit a new record in natural gas output by producing a total of two billion cubic meters of gas per year. - 6/14/15

Gas superpower Iran to invest $100 billion

- Iran says it needs $100 billion of investment in its gas industry as updated BP data put the energy superpower's reserves above those of Russia as the world's largest. "Natural gas will be the main fuel in the next 20 to 30 years," international affairs director at National Iranian Gas Co. Azizollah Ramezani has said. - 6/12/15

Iran, China, Indonesia finalize refinery deal

- Iran, China and Indonesia have reached a final agreement on building a refinery on the East Java island to process 150,000 barrels per day of heavy crude oil, an Iranian official said on Wednesday. - 6/10/15

Iranian Oil Minister: US, European firms welcome

- International oil companies have told Minister of Petroleum Bijan Zangeneh they would return quickly to Iran if sanctions were lifted, he has said. Zangeneh said both US and European companies are welcome. "Of course, Americans are higher in terms of technology. The Europeans don't have any particular advantage. But we are open for all." - 6/9/15

Iran says welcomes investments by US companies in its oil projects

- Iran's Minister of Petroleum Bijan Zangeneh says the country welcomes the participation of American corporations in its oil projects. "We welcome the presence of American oil companies in Iran," Zangeneh has been quoted as saying by the country's local media. "We will definitely prepare the grounds for the presence of American oil companies in Iran". - 6/6/15

OPEC holds firm on production quotas despite price collapse

- OPEC announced, after a meeting on Friday June 5, that it is not adjusting its production quotas. The Organization of Petroleum Exporting Countries said that despite the 40-percent decrease in the price of oil in the past year, it will maintain output at 30 million barrels a day. - 6/6/15

Armenia to sell Iran gas pipeline to Gazprom

- Armenia will sell its section of an Iranian gas export pipeline to Russia's Gazprom, Deputy Energy Minister Ara Simonian has said. The takeover of the 41-kilometer-long pipeline, however, will not allow Gazprom to "mess with" gas imports from neighboring Iran, Simonian said. - 6/6/15

Iran's return to oil market gradual: Oil Minister

- Speaking during an address to the 6th OPEC International Seminar in Austrian capital city of Vienna, the Iranian minister added, "Immediately or one month after the sanctions are lifted, we will pump half a million barrels per day to the market and after 6-7 months, we will reach one million barrels [a day] and I don't believe that with the maturity of OPEC it will have a bad effect on the market." - 6/4/15

Russia to build Iran's 2nd, 3rd nuclear power plant units in fall

- The head of Russia's nuclear agency Rosatom says Moscow will start the full-scale work on the construction of the second and third units of Iran's Bushehr Nuclear Power Plant (NPP) later this year. - 6/3/15

Iran scraps subsidized gasoline allowance

- Iranian motorists will see a monthly allotment of 60 liters of subsidized gasoline canceled from Tuesday. From Tuesday, every driver will pay 35 cents per liter at gas stations, officials said. - 5/25/15

Exxon lobbies US government on Iran sanctions

- Exxon Mobil is reported to have stationed lobbyists to push the envelope on Iran sanctions with the US government as Western companies are jostling for access to the Middle East country's massive oil and gas fields. - 5/22/15

Iran spells out conditions for US oil firms

- An official says Iran's oil and gas is open to American investment but US companies have to tie up with Iranian companies under certain terms."From the government's standpoint, there is no limitation for oil investment by the Americans in Iran," deputy Minister of Petroleum Amir Hossein Zamaninia said, the Mehr news agency reported. - 5/19/15

Iran confident of quick oil output recovery

- Deputy Oil Minister Rokneddin Javadi says Iran's oil exports could return to the pre-sanctions level over a period of three or four months. Talking to IRNA in Kuala Lumpur, the official said Iran must ramp up production to four million barrels per day, of which 2.3 million to 2.5 million bdp would go to exports. - 5/18/15

Iran plans $180 billion energy investment

- Minister of Petroleum Bijan Zangeneh says Iran plans to splash out $180 billion to revive and renovate its oil, gas and petrochemical industries by 2022. Addressing an energy security summit in Berlin, the minister said Iran has always been a reliable energy supplier, adding the country wants to regain its position in the energy market. - 5/8/15

Iran holds oil and gas show to attract investment

- Iran is holding a four-day international oil and gas show to introduce lucrative development projects amid hopes for the annulment of sanctions on the Islamic Republic. A large number of foreign companies have signed up to attend the 20th International Oil, Gas, Refining and Petrochemical Exhibition in Tehran. The event starts on Wednesday and will run until Saturday. - 5/6/15

Still One Big Obstacle To Turkmen Gas To Europe

- The Caspian Sea is a sea of peace and friendship. Top officials in the five Caspian littoral states -- Azerbaijan, Iran, Kazakhstan, Russia, and Turkmenistan -- have been repeating that line for two decades. This mantra is about to be put to the test. -Bruce Pannier, RFE - 5/6/15

US oil delegation to visit Iran this week: Iranian official

- A US oil delegation is scheduled to travel to Tehran this week to hold talks with a number of Iranian petroleum ministry officials as well as oil industry contractors. "It is predicted that following the visit by the American delegation to Tehran and possible removal of sanctions against the oil industry, we will witness the presence of major international US oil and gas companies in Iran in future," Abbas Shari Moqaddam, Iran's deputy petroleum minister was quoted as saying - 5/5/15

Iran names priority oil sector projects

- The National Iranian Oil Company (NIOC) announced in a statement on Sunday that it has defined 21 top priority oil sector projects. The NIOC added in the statement that the projects will be introduced to investors in the upcoming Iran Oil Show that will be held in Tehran 6-9 May, 2015. - 4/27/15

The European Union, The Southern Corridor, And Turkmen Gas

- The European Union is more active lately in searching for new sources of natural gas, motivated in no small part by its rocky relations with Russia over the Kremlin's involvement in Ukraine. The EU's Southern Gas Corridor project to bring gas from the Caspian Basin to Europe is getting new attention and taking on increased importance, which can be seen in the increased contact among officials from the EU, gas exporters Azerbaijan and Turkmenistan, and transit countries Turkey and Georgia. -Bruce Pannier, RFE - 4/24/15

Iran Seeks China's Help to Build New Nuclear Plants

- The framework nuclear deal between Iran and global powers has opened up new investment possibilities in an economy that has been stunted by international sanctions. Last week, a top Iranian atomic energy official said in addition to Russia, China will also help it build additional nuclear power plants. -William Ide, VOA - 4/23/15

Iran starts testing Iraq gas pipeline

- The National Iranian Gas Company (NIGC) said on Saturday that preliminary tests have been carried out over 50 kilometers of the final stretch of the pipeline which has been installed to take gas to Iran's western neighbor. - 4/20/15

Russia's No. 2 oil firm reopens Iran office

- Russian oil company Lukoil has reopened its offices in Iran in anticipation of the removal of economic sanctions against Tehran over its nuclear program. Lukoil Deputy Vice President Ravil Maganov said the company was back in Iran, UPI reported Wednesday. - 4/16/15

Iran's says oil output to reach pre-sanctions levels "very fast"

- Iran said on Tuesday it can increase its oil production to pre-sanctions levels "very fast". Iran's Petroleum Minister Bijan Namdar Zanganeh told reporters the country has already carried out necessary tests to increase production from its producing fields. - 4/14/15
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