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In its monthly market report published earlier, Organization of the Petroleum Exporting Countries (OPEC) said that demand for crude from its own 14 members was expected to rise to average 33.0 million barrels per day in 2017, representing a gain of 1.1 million barrels per day over the current year. "The contraction seen this year in non-OPEC supply is expected to continue in 2017 but at a slower pace," OPEC said. "Market conditions will help remove overall excess oil stocks in 2017." Output from OPEC’s 14 nations increased by 264,100…

Daily production climbed to highest since end of November 2011 Exports rose more than 40% from March to 2 million barrels/day In an interview with IRIB News Agency, Managing director of National Iranian Oil Company announced that Iran has reached to pre-sanction level of crude oil production and export. Roknodin Javadi said: during the last month (30th Mar-30 Apr) country's crude oil export has increased to more than 2 million bpd besides we are experiencing a significant rise in crude oil production and in near future we will reach the…

According to the OIEC Managing Director interview with Shana agency, Iran is to launch phases 20 and 21 of the supergiant South Pars gas field by the end of the current Iranian calendar year to March 20 2016. Managing Director of Oil Industries' Engineering & Construction Group (OIEC) said the phases will come on-stream with a daily production capacity of 50 mcm/d of natural gas. Behzad Mohammadi told Shana that the phases will become fully operational by the end of the current year given the accelerated progress of drilling operations…

In April 29 is the National Persian Gulf Day in Iran. A ceremony has been held in Tehran to mark National Persian Gulf Day, deliberating on the importance of the strategic waterway and its significance for Iranians. Coinciding with this event, the first ritual to commemorate industry and economy prides has been held which awards medal of excellent European business competence and Persian Gulf statue of brands with social responsibility approach, to the managers in public and private sectors. In this event, statues of National Competent Director for Competency and…

Ceremony of Introducing new managing director of OEID was hold with the presence of Mr. Mohamadi, managing director of OEIC, and a number of managers of OEID and the managing director of OICO. At the beginning of the ceremony which was held at the company’s location, Mr.Mohamadi stated: oil and gas industry is the most dynamic sector of the country's economy. OEIC group has a great impact on this industry. He described OEID as one the most coherent companies of OEIC group because of the large number of projects, high…

Concurrent with the auspicious birth of Prophet Mohammad (peace be upon him) and Imam Jafar Sadegh, development project of Sarvestan & SaadatAbad Oilfields, that has been managed by OIED trough 16 Oil Fields Development Program , was successfully implemented and the fields came on stream. [caption id="attachment_2338" align="alignleft" width="248"] Sarvestan & SaadatAbad Oilfields[/caption] Managing director of the Iranian Central Oil Fields Company, Mehdi Fakour, made the remarks and said with Sarvestan & SaadatAbad Oilfields coming on stream, Fars province joined the oil rich provinces of the country. "Some 15 thousands…