The newly-appointed CEO of the National Iranian Oil Company says the country is determined to increase its oil production from oilfields in the south, especially those that straddle the Iran-Iraq border.

Some 15 contracts worth $1.1 billion have been signed on the last day of Iran Oil Show.

The poster of the 28th Iran International Oil, Gas, Refining and Petrochemical Exhibition (Iran Oil Show 2024) with the motto “Oil Industry; Surge in Production, Technological Optimization” was unveiled on Wednesday.

The National Iranian Oil Company (NIOC) says the country has discovered shale oil deposits in 10 different locations across the country.

More than 1,500 domestic and 250 foreign companies will participate in the 28th International Iran Oil and Gas Expo, the public relations department of National Iranian Oil Company (NIOC) announced.

The National Iranian Oil Company (NIOC) has signed contracts worth $13 billion, marking the country's biggest oil contracts in a decade.

The chief executive of the National Iranian Oil Company (NIOC) said that his company plans to ink important contracts in the near future to increase the oil and gas production volume.

Iran’s oil industry requires $275 billion of investment to increase and maintain production in oil and gas fields in the next 17 years, an official with the National Iranian Oil Company (NIOC) said.

The director of exploration of National Iranian Oil Company (NIOC) stated that currently Iran has oil and gas exploration relations with four neighboring countries and said transferring exploration technologies to neighboring countries can create value and generate income for Iran. Making the remarks in a press conference, Mehdi Fakour said that ...

A group of researchers at Khajeh Nasir Toosi University of Technology in Tehran has indigenized electric submersible pumps (ESPs) that will help raise crude output in Irans oilfields, the head of the research team said. The university has an annual production capacity of 50 pumps, the import of which costs the National Iranian Oil Company around ...

Iran and Russian energy giant Gazprom continue consultations to reach an agreement over the development of fields in Iran, Russian Ambassador in Tehran Alexey Dedov said. The National Iranian Oil Company (NIOC) and Gazprom are working to determine the economic assessment of the prospects for the participation of the Russian company in oil and gas ...

CEO of Irans state oil company the NIOC says the government will soon begin to sell oil bonds to secure the investment needed in large-scale oil and gas projects in the country. Mohsen Khojasteh Mehr said on Wednesday that oil bonds planned to be unveiled by the National Iranian Oil Company in the near future will be denominated in foreign currencies ...

Irans state oil company the NIOC has awarded some $500 million worth of contracts to domestic companies to revive low-production oil wells in the country. CEO of the National Iranian Oil Company Mohsen Khojasteh Mehr said on Tuesday that around 750 low-production oil wells across Iran will be revived under the contracts signed with dozens of small ...

Irans daily natural gas output has reached over 1 billion cubic meters (bcm), according to a senior official in the National Iranian Oil Company (NIOC). NIOCs director of production control Hormoz Qalavand said on Wednesday that rich gas output from 23 Iranian gas fields had reached a total of 1.04 bcm per day. Qalavand said some 980 million ...

Iran has discovered new oil reserves in the countrys southwest, the details of which will be announced by Minister of Petroleum Javad Owji in the near future, the National Iranian Oil Company (NIOC) says. Iranian experts have also carried out well-logging on an offshore exploratory block in the Persian Gulf with gas reserves estimated at 30 trillion ...

The National Iranian Oil Company (NIOC) says development works on a key oilfield shared with Iraq will start within days as Iran moves ahead with plans to expand its massive petroleum industry despite sanctions imposed by the United States. NIOCs CEO Mohsen Khojasteh Mehr said on Tuesday that a domestic contractor will start executive works on Sohrab ...

National Iranian Oil Company (NIOC) and the Sharif University of Technology have jointly organized the First National Conference on Increasing Oil and Gas Well Productivity which is currently underway in Tehran, Shana reported. According to NIOC Head Mohsen Khojasteh-Mehr the national conference is held with the aim of increasing the recovery factor ...

Iran is in discussions for supplying raw material, equipment and technology needed in the petroleum sector in Belarus amid growing economic ties between the two countries. A senior official from Irans state oil company the NIOC said on Tuesday that a delegation from Belarus had visited Iran for talks on joint projects to manufacture oil industry ...

Two Iranian tankers have arrived in Venezuela with about 1.22 million barrels of Iranian crude and 2 million barrels of condensate, media reports citing documents from state oil company PDVSA say. They arrived in Venezuelan waters this month and are about to discharge their cargoes at Venezuela's Jose terminal in the coming days, they said. One ...

The CEO of the National Iranian Oil Company (NIOC) and deputy oil minister of Iran said that Iran's oil production capacity will increase by 200,000 barrels per day by the end of the current Iranian year, which began on March 21, and reach 4.038 BPD by late March 2023. Mohsen Khojastehmehr told IRNA that by the end of the current Iranian calendar ...