The year 1404 can be regarded as a period in which the National Iranian South Oilfields Company (NISOC) further consolidated its position as one of the strategic pillars of the country’s oil industry and a principal component of Iran’s energy portfolio. At a time when the stability of energy production plays a direct role in economic stability, national resilience, and the realization of the Seventh Development Plan’s objectives, the company’s performance can be assessed not merely as that of an operational entity, but as a key contributor to the broader energy economy.
Iran and Russia are set to finalize six separate cooperation documents following negotiations by 16 working groups during the first two days of the 19th Iran-Russia Joint Economic Commission, a senior Iranian oil official said Monday.
President Masoud Pezeshkian says Iran is firmly committed to operationalizing major transportation projects and the country’s vital arteries with “power, speed, precision, and high quality.”
The CEO of the National Petrochemical Company said optimizing fuel consumption at power plants can improve petrochemical feedstock availability while boosting efficiency and reducing emissions. He added that petrochemical companies investing in such projects will benefit financially while delivering significant national economic gains.
The CEO of Nouri Petrochemical Company emphasized the strategic and supervisory role of the National Petrochemical Company in the sector, saying investors are seeking stability in policymaking and decision-making in the petrochemical industry. He said pricing of utility services must be managed in a way that preserves the economic viability and attractiveness of production at downstream complexes.
The petrochemical industry has entered a new phase of policy and implementation under Iran's 14th government, moving beyond the mere expansion of nominal capacity to focus on completing the value chain, increasing actual production, and boosting domestic value-added, according to the head of the National Petrochemical Company (NPC).
The head of integrated planning at the National Iranian Oil Company said all recoverable associated gas in western Iran will be fully returned to the consumption cycle by before next summer with the startup of the Dehloran gas compression station.
The CEO of the National Iranian Oil Refining and Distribution Company said gas oil (diesel) consumption fell 4% in the year 1404, allowing the country to avoid imports after spending about $1 billion on gas oil imports last year.
A new data-driven model for managing natural gas consumption, centered on so-called energy service companies, has entered the implementation phase following the signing of 22 operational contracts between the National Iranian Gas Company and private-sector firms. The initiative aims to optimize consumption, reduce energy waste and cut end-use gas consumption by 25% to 35%.
The flare gas recovery project in the Aghajari oilfield has progressed more than 60%, with plans to virtually eliminate routine flaring in the area by the end of the Iranian year 1407 (March 2029), according to the head of the Aghajari Oil and Gas Production Company.