Oil Production
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Iran inaugurates 17 new oil, refining, and petrochemical projects
Tehran, Iran - In a significant boost to the country's energy infrastructure, Iran has officially inaugurated 17 major oil, refining, and petrochemical projects across seven provinces, with a total investment of over 180 trillion rials.
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Minister: Iran oil production to reach 4 million bpd
Tehran, IRNA – Iranian Oil Minister Javad Owji has said that the country plans to increase its daily crude production to 4 million barrels per day (bpd) by late March 2025.
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Iran Oil Ministry signs contracts worth $2bn
Tehran, IRNA – The Iranian Oil Ministry has signed four contracts worth $2 billion, including agreements to develop two oil fields.
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Iran oil output reaches 3.3 million bpd in April: IEA
Tehran, IRNA – The International Energy Agency (IEA) declared a 50,000 barrel per day jump in Iran’s daily oil production in the fourth month of the current year, reaching 3.3 million barrels per day.
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Iran plans to boost oil production by 400,000 bpd: Minister
Tehran, April 30, 2024 - Iran's Oil Minister Javad Owji has announced plans to increase the country's crude oil production by 400,000 barrels per day (bpd).
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Iran oil output up 500k bpd y/y: IMF
Tehran, IRNA – The new statistics released by the International Monetary Fund (IMF) show that Iran's oil production in 2023 saw an increase of 500,000 barrels per day (bpd) in comparison to the previous year, reaching 3.1 million bpd.
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Iran’s oil output up 630,000 bpd y/y in Jan-March: Report
Tehran, IRNA – The US Energy Information Administration (EIA) has announced in its latest report that Iranian oil production has surpassed 3,250 million barrels per day (bpd), indicating that Iran’s oil production increased by 630,000 bpd year-on-year from January to March.
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Iran’s oil output hits 3.2 mn bpd in February: EIA
Tehran, IRNA – The US Energy Information Administration (EIA) has announced in its latest report that Iran produced 3.2 million barrels of oil per day (b/d) in February 2024, stabilizing its third place in the Organization of Petroleum Exporting Countries (OPEC).
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Sanctions, sabotage acts failed to halt Iran’s oil industry progress: Minister
Tehran, IRNA – Iran’s Oil Minister Javad Owji has said that sanctions and acts of sabotage have failed to stop the country’s progress in the oil industry, with the Islamic Republic now exporting its oil to any destination it wants.
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IMF raises Iran 2024 economic growth outlook, cites oil production surge
Tehran, IRNA – The International Monetary Fund (IMF) has increased its outlook of economic growth in Iran for 2024, attributing it to a surge in the country’s oil production.
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Iran ranks first in 2023 oil production rise in OPEC
Tehran, IRNA – The United States Department of Energy has announced that the Islamic Republic of Iran stood in first place among OPEC members in terms of 2023 oil production growth by raising its daily oil production by 330,000 barrels.
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Iran’s crude oil output rises to 3.4 mln bpd
Tehran, IRNA – Iran’s Oil Minister Javad Owji has announced that the country’s crude oil production has reached 3.4 million barrels per day (bpd).
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Iran completes 33 oil projects worth $12b in 2 years
Tehran, IRNA – Iranian Minister of Oil Javad Owji has announced that 33 unfinished oil projects have been completed with an investment of 12 billion dollars under the administration of President Ebrahim Raisi.
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Iran producing nearly 3.2 mln bpd of oil: Minister
Tehran, IRNA - Iran’s Oil Minister Javad Owji says that the Islamic Republic is producing about 3.2 million barrels per day (bpd) of crude oil.
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Iran exports $19 bn of crude oil Jan-May
Tehran, IRNA – The latest data released by the Energy Information Administration of the United States (EIA) shows that Iran has exported $19 billion of crude oil in the first five months of 2023.
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World energy review confirms increase in Iran's crude production
Tehran, IRNA – According to the 72nd edition of the Statistical Review of World Energy, Iran's crude oil production in 2021 increased in comparison with 2022.
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Iran’s Oil Output in March Hits 2.750 Million bpd: IEA
Tehran, IRNA -- The International Energy Agency (IEA) in its latest report announced that Iran’s crude production volume reached 2.75 million barrels per day (bpd) in the fourth month of 2023.
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Iranian daily oil production increases 140,000 barrels: EIA
Tehran, IRNA – Figures by the US Energy Information Administration (EIA) in a report entitled "Annual Energy Outlook 2022 (AEO2022) show that Iran's average oil production in 2022 was 2.54 million barrels per day, Iran's oil production in 2021 was about 2.4 million barrels per day, according to which, in 2022, Iran's total oil production has increased by 140,000 barrels per day compared to the previous year.
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Iran ranks fourth among top oil suppliers in OPEC
Tehran, IRNA – The International Energy Agency estimated Iran’s oil production in December 2022 at 2.72 million bpd, announcing that Iran’s rank upgraded to the fourth among top oil suppliers of the OPEC.
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Integrated development plan to up Azadegan oil field revenue by $14b
Tehran, IRNA – Iran has invested 7 billion dollars in a 7-year integrated development plan for Azadegan joint oilfields that will bring $14 billion extra revenue on a yearly basis for the country.
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Iran won’t keep oil projects waiting for foreign companies: Official
Tehran, IRNA – The CEO of National Iranian Oil Company (NIOC) said that Iran wouldn’t keep oil projects waiting for foreign companies, as President Ebrahim Raisi’s administration has restored one million bpd production lost in recent years.
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Iran’s oil production reaches pre-sanctions level
Tehran, IRNA – Iran’s oil exports have seen a 40-percent rise and the capacity of oil production has reached pre-sanctions level despite sanctions and economic pressure, the CEO of National Iranian Oil Company (NIOC) said on Sunday.
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Iran oil production sets record high despite sanctions
Tehran, IRNA - A report released by Organization of the Petroleum Exporting Countries (OPEC) indicates that Iran's oil production in January experienced 21,000 barrels per day increase, reaching the highest production level comparing last three years.
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President orders launching $1.3b national projects
Tehran, May 20, IRNA – In a video conference on Thursday, President Hassan Rouhani ordered launching of Oil Ministry’s petrochemical national projects worth 1,304 million dollars.
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Global oil market eyeing Iran
Tehran, May 10, IRNA – Beginning of the fourth round of talks in Vienna to revive the JCPOA and multilateral attempts to reach a win-win agreement as soon as possible has caught eyes in global oil market, making OPEC Plus ministers closely watch developments in Vienna, Iran Newspaper wrote in a report on Monday.
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Iran’s oil production from southern fields up by 30% over past six months
Tehran, March 22, IRNA – Managing-Director of National Iranian South Oil Company Ahmad Mohammadi said on Monday that the company’s production has increased by 30% in the second half of the past Iranian year (ended on March 19).