Pars Special Economic Energy Zone

Liquefied natural gas prices in North Asia, the world’s biggest market for the fuel, have slumped to the lowest in 17 months as the peak demand season ends with a whimper.

An official with the National Iranian Oil Company (NIOC) said Iran’s Oil Industry needed new blood and fresh ideas for development.

A top US official discussed this week South Korea’s crude Oil imports from Iran and urged Seoul to accelerate its Oil supply diversification, S&P Global Platts reported on Thursday, quoting a diplomatic source.

The CEO of Khazar Exploration and Production Company (KEPCO) said talks between Iran and Azerbaijan were continuing and a joint committee had been formed by the two neighbors.

Japanese refiners are seeking clarity on whether there will be an extension to the 180-day sanctions waiver from Washington in March, as they hope to continue buying Iranian Oil without any disruption, Petroleum Association of Japan's president Takashi Tsukioka said.

Tombak Export-Service Terminal is expected to fully come online by the end of the next Iranian calendar year to March 2020.

Ethane Production capacity in Asaluyeh in the southern Bushehr Province will rise by 2 million tons per annum upon the inauguration of four new phases of the South Pars Gas Field in Persian Gulf in March.

Iran is now a gasoline exporter but the country is not exporting any volumes for the moment, preferring to build up its stocks first, Minister of Petroleum Bijan Zangeneh says.

Iran’s President Hassan Rouhani has inaugurated third phase of the gas condensate plant, known as the Persian Gulf Star Refinery in the southern city of Bandar Abbas.

Iran’s Petrol production capacity stands at 76 million liters per day and its gasoil Output is 44 ml/d on average, which makes the country the largest producer of the items in the region.