TEHRAN, Jul. 16 (MNA) – The offshore section of Phase 14 of the giant offshore South Pars gas field is expected to come on stream later this year, according to the project manager Mohammad Mehdi Tavasolipour.

Currently, the two platforms of SP14 are producing 28 mcm/d of gas. The third platform of this phase was loaded out in Bandar Abbas recently and moved to its location at 14B.

Speaking"...

TEHRAN, Jul. 16 (MNA) – Secretary General of Iran-Iraq Joint Chamber of Commerce Seyed Hamid Hosseini said Tue. that Iran will earn $5 billion revenues for its gas and electricity sales to neighboring Iraq this year.

Iran’s technical and engineering projects, which had been stopped in Iraq due to terrorist activities, have resumed, Hosseini added.

“In"...

TEHRAN- Two remaining platforms of Iran’s South Pars gas field’s phase 14 of development will be put into operation by the end of autumn, according to Mohammad-Mehdi Tavasolipour, the operator of phase 14.

Making the remarks in a press conference after installing platform 14B of this phase on Saturday, Tavasolipour also said that $150 million has been saved in the projects for building and installing the four platforms of phase 14, and"...

TEHRAN – Iran is expected to sign a deal with Sri Lanka to receive the country’s famed tea over the next two years in exchange for the settlement of loans obtained for the purchase of oil, Sunday Times reported.

As reported, the issue was discussed during a meeting between the Sri Lankan Foreign Affairs Minister Tilak Marapana and Minister of Plantation Industries Navin Dissanayake together with other relevant officials of the two ministries,"...

TEHRAN – Head of National Iranian Gas Transmission Company (NIGTC) announced that Iranian experts have achieved the know-how for producing vibration monitoring and protection systems for gas transmission lines.

According to Saeed Tavakoli, the domestically-made systems would be 20 more cost-efficient than foreign samples, IRNA reported on Saturday.

“So far,"...

TEHRAN- National Iranian Oil Company (NIOC) will offer two million barrels of gas condensate at Iran Energy Exchange (IRENEX) on Tuesday, Shana reported.

As announced by NIOC, the base price will be $60.4 per barrel in this round of offering gas condensate at IRENEX which is the eight round.

Buyers can receive their cargo up to three months after the transaction, and the"...

TEHRAN, Jul. 10 (MNA) – In a report on the effects of the tensions in the Persian Gulf on the world oil market, OIL PRICE mentioned that Persian Gulf conflict could send oil beyond $325.

Tensions between Iran and the United States reached a record high after a US spy drone violated Iran’s airspace last month and ignored Iran’s warnings before being targeted by IRGC’s air defense on June 20.

US"...

TEHRAN - The electricity output of Iran’s hydroelectric power plants is expected to reach 20,000 gigawatt hours (GWh) in the first half of the current Iranian calendar year (to end on September 22), four times more than the figure for last year’s same period, IRIB reported on Monday.

According to the Head of Iran Water and Power Resources Development Company (IWPC), Behrouz Moradi, a newly constructed hydroelectric power plant is also"...

TEHRAN - On Monday, Behrouz Kamalvandi, the spokesman for the Atomic Energy Organization of Iran (AEOI), told ISNA that Iran’s degree of uranium enrichment has reached 4.5 percent which he said is enough to power nuclear plants.

Increasing the level of enrichment to above 3.67 percent was taken on Sunday after Europe missed a 60-day deadline by Tehran to devise a concrete mechanism to guard Iran against U.S. sanctions.

On"...

TEHRAN- The daily production of gasoline in Iran will exceed 110 million liters in the upcoming week to mark a new record in the country’s gasoline production history, Tasnim reported, quoting Iranian oil minister as saying on Sunday night.

The raise in the country’s gasoline productions comes at time that the U.S. is putting all its efforts in crippling Iran’s oil industry.

The"...