TEHRAN (NIOC) _ Persian Gulf Bidboland Gas Refinery has signed 3 contracts valued at a total of €165 million with local firms for the manufacture of a plant to capture flared gas and convert it into usable fuel.

TEHRAN (NIOC) _ The 15th OPEC and non-OPEC Ministerial Meeting Ministers was held via video conference on Thursday April 1, 2021, under the Chairmanship of HRH Prince Abdul Aziz bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Deputy Prime Minister of the Russian Federation.

TEHRAN (NIOC) _ OPEC and its allies reached a consensus on Thursday on easing crude oil output cuts by 350,000 bpd for May and June, and by 450,000 bpd as of July.

TEHRAN (NIOC) _ The Deputy Director of Dispatching Operations at the National Iranian Gas Company (NIGC) announced a 6 increase in Iran’s annual sweet gas production.

TEHRAN (NIOC) _ The first Single Point Mooring system (SPM) with a capacity of 7,000 cubic meters per hour for crude oil export, was installed on Thursday (March 19) in the offshore position of this terminal in the Kouhmobarak area of ​​Hormozgan province and entered the commissioning phase.

TEHRAN (NIOC) _The early production part of the Jask Oil Terminal is almost completed as it has been developed by 90 percent and the installation process of the first single point mooring (SPM) has begun in the Oman Sea, Jask oil terminal project executor said.

TEHRAN (NIOC) _ The CEO of Petropars Group said despite the unfavorable and unstable winter weather conditions in the Persian Gulf, drilling operations of Phase 11 of South Pars Gas Field continue seriously without any interruptions, and so far, 4,180 meters of drilling has been carried out in the project.

TEHRAN (NIOC) _ 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 (NIOC) _ Iran’s Minister of Petroleum, Bijan Zangeneh, said after the 14th OPEC and non-OPEC Ministerial Meeting held on Thursday via video conference that there is stability in oil market at present.

TEHRAN (NIOC) _ OPEC and its allies reached a compromise on Thursday on extending the current crude oil output cuts of 18 members for April, allowing Russia and Kazakhstan to raise their production by 150,000 bpd.

TEHRAN (NIOC) – Iran has so far produced over 36 million barrels of crude oil from Azar join oilfield, the executor of Azar Field’s development project announced.

TEHRAN (NIOC) _ The CEO of Pars Oil and Gas Company said the first jetty for loading and exporting liquefied petroleum gas from the service and export port of Tombak in South Pars was put into operation.

TEHRAN (NIOC) _ The Organization of the Petroleum Exporting Countries (OPEC) has postponed its 8th International Seminar until next year due to the COVID-19 pandemic. The Seminar, originally scheduled for 16-17 June 2021, will now be held on 29-30 June 2022 at the Hofburg Imperial Palace in Vienna, Austria.

TEHRAN (NIOC) _ The CEO of the National Iranian Oil Engineering and Construction Company said: We have become completely self-sufficient in construction and implementation of crude oil and petroleum products transmission pipelines under the most difficult economic conditions and sanctions.

TEHRAN (NIOC) – The CEO of the Iranian Central Oil Fields Company said plans were under way to start crude oil production at Khesht Oilfield in the first half of the next Iranian calendar year which starts on March 21, 2021.

TEHRAN (NIOC) _ The first 3.2-MW pump made in Iran, after successfully passing performance tests, was delivered to the Goreh-Jask crude oil transfer project and reached the installation site in Pumping House No. 2, located 50 km off Bushehr.

TEHRAN (NIOC) – The National Iranian Drilling Company (NIDC) has completed 117 oil and gas wells by drilling ​​85,616 meters during the past year.

TEHRAN (NIOC) _ Although ten giant oil fields in Iran account for the bulk of Iran's oil production, they are all in the second half of their lifecycle as inadequate investment in them, over years, has left their recovery rate at a low level.

TEHRAN (NIOC) _ The head of Jask Oil Terminal Project said that construction of the first 36-inch marine pipeline to transport crude oil to the Jask export terminal was completed.

TEHRAN (NIOC) _ Cooperation and mutual respect as far as transferring the technologies are concerned, is regarded as the gravest reason for the presence and participation of the foreign firms in Iran, Iranian oil minister stressed.