2008-07-23 -
Iran"s OPEC governor Mohammad-Ali Khatibi said oil prices were being driven down on the back of easing geopolitical tensions.
Speaking to PIN, Khatibi added that the issue shows if oil-consuming countries follow a wiser policy towards oil producers, it supports a better stability to the oil market.
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502 CNG Stations in Service, 450 under Construction
2008-07-23 -
Iran 502 CNG stations including 272 CNG-only and 230 dual-fuel ones have been constructed in the country and are in service while more than 450 stations are under construction by the provincial gas companies, Iranian Gas-Khodro Company PR reported.
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Iran Oil Production Capacity to Rise to 4.29 Mid-Sep: Official
2008-07-23 -
TEHRAN (PIN) – Iran"s oil production capacity has hit 4.23 million barrels per day and the country"s oil industry will witness further growth by 60000 b/d to 4.29mm b/d by mid-Sep, an oil official said.
Managing director of National Iranian Oil Company Seifollah Jashnsaz told PIN, the company has managed to increase its oil production capacity from Darkhouwain, Hengam, Hendijan and Azadeagn oil fields by mid-Sep.
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New oilfield discovered in Iran
2008-07-21 -
Xinhua
Tehran, July 20 (Xinhua) Iran Sunday said a new oilfield has been discovered in the southern part of the country with an estimated reserve of 525 million barrels. Satellite channel Press TV quoted oil minister Gholam-Hossein Nozari as saying that the discovery near the port city of Assaluyeh is “unprecedented given that all previous discoveries in the area are gasfields”.
The new oilfield is located near the port city of Assaluyeh in Bushehr province, Nozari said.
Nozari said last week that Iran has discovered a new oilfield in the south-west province of Khuzestan with an estimated reserve of more than one billion barrels.
The Islamic country is world’s fourth largest oil producer and ranks second among the Organization of the Petroleum Exporting Countries (OPEC), of which it is a member.
Iranian officials have said that the country’s oil reserve is estimated at more than 130 billion barrels, about 12 percent of global reserves.
Xinhua
Iran bets on pipelines to export gas to Europe
2008-07-21 -
Iran may decide to export its liquefied natural gas (LNG) through pipelines instead of using carriers, an Iranian Oil Ministry official has said.
Iran, which holds the world’s second-largest gas reserves, hopes to export gas to Europe via the planned ‘Persian pipeline’ rather than pursuing LNG export schemes, Akbar Torkan, Iran’s deputy oil minister for planning, told Dow Jones Newswires in a recent phone interview.
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2008-07-21 -
doha • Aamal Company registered a 243 percent surge in its net profit for the first half (H1) of this year to QR219m. Earnings per Share (EPS) was at QR0.58 while revenues rose by 30 percent to QR327m. The Aamal board said the management will deploy the profits for the benefit of shareholders and maintain sustainable growth. The board said the strong showing in H1 was a reflection of using the right strategies and the commitment of its employees. The company announced Aamal Cement Company will begin production before the year is out and Senyar Company Qatar Holding will start production of cables early next year. Expected production is 30,000 tons per year. The company has been set up in partnership with Al Swaidi Cables and the project cost is estimated at $150m. Aamal recently signed an MoU with Masraf Al Rayan to set up `C-San Holding’ with a paid-up capital of QR10m. Tareq Mahmoud Al Sayyed, Aamal Vice-Chairman, said the company proposes to reinforce its presence in the local and regional markets. The firm’s achievements till date are a cornerstone for future developments as Aamal assumes multiple roles, he said.
Marginal rise in QEWC profit
doha • Qatar Electricity and Water Company (QEWC) yesterday announced a marginal increase in its net profit for the first half of this year to QR349m against the QR334.5m registered last year. The Earnings per Share (EPS) was QR3.49 against the QR3.35 of 2007.
Fitch gives A+ rating to Nakilat bonds
doha • Fitch Ratings has given an ‘A+’ rating to Qatar Gas Transport Company’s (Nakilat) senior secured bond and an `A-‘ rating for the subordinated second priority secured bonds issued by the company.
OPEC Leader Issues Warning About Iran and Oil Supply
2008-07-21 -
VIENNA — The head of the Organization of the Petroleum Exporting Countries warned on Thursday that oil prices would experience an “unlimited” increase in the event of a military conflict involving Iran because the group’s members would be unable to make up the lost production.
Skip to next paragraph “We really cannot replace Iran’s production — it’s not feasible to replace it,” Abdalla Salem el-Badri, the OPEC secretary general, said in an interview.
Iran, the second-largest producing country in OPEC after Saudi Arabia, produces about four million barrels of oil a day out of the daily worldwide production of close to 87 million barrels.
The country has been locked in a long dispute with Western nations over its nuclear ambitions.
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Turkey Investment in Iran gas Section
2008-07-20 -
Iranian Foreign Minister Manuchehr Mottaki announced the presence of Turkey in Iran"s gas investment plans, according to PIN.
"In this visit, some talks were held with Turkish officials on ways to expand comprehensive economic cooperation especially in energy sector and to review the implemented and underway agreements," Mottaki told reporters following a cabinet meeting in Tehran on Sunday.
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