Iran Blocks Strait of Hormuz
Iran has been sending radio signals to ships stating that no vessel is allowed to pass through the Strait of Hormuz, according to Reuters. Ships navigating near the waterway have received very high frequency (VHF) ...
Iran | Egypt Oil & Gas
Oil Prices Surge, LNG Supplies at Risk if Strait of Hormuz Closes: IEA Report
The International Energy Agency (IEA) stated in a report that any disruption to transit flows in the Strait of Hormuz (SoH) would have significant consequences for global oil and LNG markets. The report, issued in ...
Iran’s Boosts Oil Storage Capacity with 2M barrels
Iran, one of the largest oil exporting countries and a key player in the Organization of the Petroleum Exporting Countries (OPEC), has recently increased its oil storage capacity by adding 2 million barrels, after ...
NIDC Drills 8 Oil and Gas Wells in One Month
The Deputy CEO of the National Iranian Drilling Company (NIDC) for Drilling Operations Hamidreza Shafiei-Makvand announced that it drilled and completed eight oil and natural gas wells its rigs during Farvardin (M ...
Iran Shows Readiness to Export Petrochemicals to Africa
Iran’s First Vice President, Mohammadreza Aref, announced the country’s readiness to export petrochemicals to Africa in support of the continent’s industrial growth.
Iran to Develop 50 Gas Fields to Increase Production by 500 MMCM/D
The Acting Head of Engineering and Development at the National Iranian Oil Company Reza Aqebati announced that they will allocate $41 billion of investment packages to develop 50 natural gas fields, among them 35 ...
Iran’s Gas Flow to Industry Climbs 6.89% in 18 Days
The National Iranian Gas Company (NIGC) announced that it delivered a total of 6.49 billion cubic meters (bcm) of natural gas to the industrial sector, including power plants, petrochemical units, steel producers, ...
South Pars Gas Refinery Shows Strong Performance in 2024/25
The first South Pars Gas Refinery achieved strong operational performance during the Iranian year 1403 (March 2024 – March 2025), producing over 10 billion cubic meters (bcm) of sweetened gas, according to directo ...
NIDC to Invest around $1 billion in Drilling Equipment
The CEO of the National Iranian Drilling Company (NIDC), Mehran Makvandi, announced that the National Iranian Oil Company will invest $800 million to purchase 15 onshore drilling rigs this year. An additional $200 ...
Fuel Optimization Company Targets To Save 1.28 mmboe by the end of 2028
The CEO of the Fuel Consumption Optimization Company Hossein Hosseinzadeh announced plans to reduce energy consumption in three sectors: industry, transportation, and construction., aiming to save 1.285 million b ...
