SHANA -- The CEO of the National Iranian South Oil Company (NISOC) said the company was prepared to bring its oil production to maximum in the shortest time possible. According the National Iranian Oil Company (NIOC), Ahmad Mohammadi said NISOC had carried out its pre-planned overhaul operations in recent months and was prepared to bring its output ...

India Today - Iran will adopt a policy of maximum crude production if the United States lifts sanctions on the country's oil industry, Iranian Oil Minister Bijan Zanganeh said on Saturday. "Maximum production would be the Iranian Ministry of Petroleum's policy in case (US) sanctions are eased on Iran's oil industry," the ministry's official news ...

Reuters - OPEC is struggling to add barrels to the market after agreeing in June to increase output, an internal document seen by Reuters showed, as an increase in Saudi Arabia was offset by declines in Iran, Venezuela and Angola. The Organization of the Petroleum Exporting Countries and allies agreed in June to boost supply as U.S. President Donald ...

SHANA - The Iranian Offshore Oil Company (IOOC) signed a contract with PetroIran Company for maintaining and enhancing oil production capacity of Sivand, Esfand and Dena offshore oilfields in Persian Gulf waters. The contract was signed on Wednesday between the two companies and is to be completed in a 20-month period. An increase of 16,000 b/d ...

SHANA - The US withdrawal from Irans 2015 nuclear deal with six world powers and Washingtons attempts to cut Irans oil exports to zero have raised serious questions about the future of energy market and possible fluctuations and shocks in the oil market. Well mindful of the consequences of this policy, the US government recently announced it would ...

Bloomberg - Saudi Arabias crown prince, facing U.S. pressure to tame surging oil prices, insisted that the kingdom is fulfilling promises to make up for Iranian crude supplies lost to American sanctions. The request that America made to Saudi Arabia and other OPEC countries is to be sure that if there is any loss of supply from Iran, that we will ...

Reuters - Russia and Saudi Arabia struck a private deal in September to raise oil output to cool rising prices and informed the United States before a meeting in Algiers with other producers, four sources familiar with the plan said. U.S. President Donald Trump has blamed the Organization of the Petroleum Exporting Countries (OPEC) for high crude ...

Bloomberg - OPEC crude production rose in August to the highest level this year as a recovery in Libyan output helped to offset a cut in Iranian exports due to U.S. sanctions. The groups 15 members, which now include the Republic of Congo, collectively produced 32.74 million barrels a day last month, an increase of 420,000 barrels a day from July,...

SHANA - Iran holds about 67 billion barrels of oil in place in the jointly owned oil fields in the West Karoun area. Until 2013, Iran was extracting nearly 50,000 b/d of oil from these fields which are shared with neighboring Iraq. But now Irans output has exceeded 300,000 b/d.   In the current calendar year to March 2018, the West Karoun ...

Press TV - Saudi Arabia says it is ready to use its surplus two million barrels of oil production capacity to even out the global market. "The kingdom is prepared to utilize its spare production capacity when necessary to deal with any future changes in the levels of supply and demand," said a statement released by the Saudi cabinet after meeting ...

Sputnik - US President Donald Trumps request for Saudi Arabia to step up its oil output to 2 million barrels per day to offset the rising oil prices may be seen as a call for the kingdom to withdraw from the Organization of the Petroleum Exporting Countries and its agreements, Irans OPEC governor Hossein Kazempour Ardebili said Saturday. Putting ...

Press TV - Riyadh does not like raising its oil production not at least beyond 11,000 barrels per day (bpd), says a Saudi official. The anonymous official made the comment to The Wall Street Journal Saturday, not long after US President Donald Trump claimed that the monarchy has agreed to raising the oil output to take on Iran and Venezuela....

Press TV - Iran has strongly reacted to a purported plan by Saudi Arabia to increase its production of crude oil and says the alleged attempt would belittle the Organization of the Petroleum Exporting Countries (OPEC) which last week agreed to maintain supplies. Irans OPEC governor Hossein Kazempour Ardebili was quoted by media as criticizing the ...

SHANA - Iranian Minister of Petroleum Bijan Zangeneh said the 174th statement of the Organization of the Petroleum Exporting Countries (OPEC) confirms the body's decision on production policy back in October 2016. "What was decided at the 174th OPEC General Meeting is the same the October 2016 decisions," said the official, according to the Iranian ...

Reuters - Iran said on Saturday the world will see little extra oil reaching the market if OPEC and its partners adhere properly to a supply pact, underlining a disagreement with top exporter Saudi Arabia. OPEC and a group of non-OPEC countries agreed on Saturday that they would return to 100 percent compliance with previously agreed oil output ...

Reuters - Iran said on Tuesday OPEC was unlikely to reach a deal on oil output this week, setting the stage for a clash with Saudi Arabia and Russia, which are pushing to raise production steeply from July to meet growing global demand. The Organization of the Petroleum Exporting Countries meets on Friday to set output policy amid calls from U.S....

IFP - Iranian Minister of Petroleum Bijan Zangeneh said: OPEC may choose to alter its output cut plan which I think would be unlikely. Speaking to reporters following a ceremony to sign the development contract for Aban and West-Paydar oilfields in Tehran on Wednesday, the official said so. Asked about Irans oil swap with Iraqs Kirkuk, Mr. Zangeneh ...

SHANA - Iranian Minister of Petroleum Bijan Zangeneh Iran will increase its crude oil production capacity by at least 1.7 million barrels per day provided that its talks with foreign partners reach fruition. Speaking in a televised interview on Saturday night, the official said: "If the talks reach fruition, we will ramp up the country's crude oil ...

IRNA It is possible for Iran to raise the oil output by 9 million barrels per day (bpd) within a twenty-year development plan, according to a senior Iranian oil official. Gholamreza Manouchehri, head of the Department for Development Engineering of the National Iranian Oil Company (NIOC), made the remarks in an exclusive interview with The Oil &...

SHANA - Iran says it can reach 6 million barrels per day of crude output through optimized management, foreign investment and state-of-the-art technologies. "Fortunately, given the approach adopted in the past two years in Iran and by relying on enhanced oil recovery methods, we have concluded that reaching this level of production capacity is possible ...