The Pars Oil and Gas Company (POGC) announced on Monday that Iran's gas production capacity in the South Pars gas field will exceed 730 million cubic meters per day (mcm/d) during the winter of the upcoming Iranian calendar year, which begins on March 21, 2024.
The Deputy Chief for Development and Engineering Affairs at the National Iranian Oil Company (NIOC), Reza Dehqan said that the country is progressing oil and gas projects worth some $50 billion.
Iran announced that it has signed a memorandum of understanding (MoU) with China to provide technical know-how and implement a project of Fanavaran Petro Olefin Company.
Iran's Oil Minister Javad Owji has stated that the country's oil production has increased recording 3.3 million barrels per day (mmbbl/d), Shana reported.
Iran has stated that its crude oil production increased to 3.2 million barrels per day (mmbbl/d) according to Iranian Minister of Oil Javad Owji.
Oil is a valuable national asset that cannot be underestimated or left without a specific and clear legal framework, as it is no secret to anyone that it could have positive impacts on the economic and social arenas. It is the main income for producing countries, and there is no other equivalent for their national economy. The majority of oil-producing countries depend on it at a rate ranging between 95% and 98%
The International Energy Agency (IEA) has announced that Iran has recorded oil production reached 2.87 million barrels per day (mmbl/d) in May 2023.
According to data released by the Energy Institute (EI), Iran's natural gas exports has reached 18.9 billion cubic meters (bcm) in 2022, increasing by 9% compared to 17.3 bcm in 2021, IRNA reported.
Iraq, OPEC’s second-largest producer after Saudi Arabia, has invited foreign companies to bid for contracts to explore and develop natural gas reserves in 11 new blocks, Reuters reported.
