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$40 bn Investment Needed in SP
TEHRAN (PIN) - Investments of $40 billion are needed to develop the remaining phases of the giant South Pars gas field within 10 years, a gas official said.

Russia Intends to Build Petrochemical Plants in Iran
TEHRAN (PIN) - Russia’s largest petrochemical holding SIBUR is negotiating with the Iranian National Petrochemical Company the construction of major petrochemical plants in the country, Russian Energy Minister Sergei Shmatko told reporters after the bilateral meetings under the Russian-Iranian intergovernmental commission here on Sunday.

OPEC to Leave Output Unchanged: President
TEHRAN (PIN) - The Organization of Petroleum Exporting Countries will keep production quotas unchanged at its meeting this month, Radio Ecclesia reported, citing Jose Maria Botelho de Vasconcelos, the organization’s president.

OIEC to Identify Contractor for SP Phase 20 Drilling Operation
TEHRAN (PIN) - Oil Industries' Engineering & Construction (OIEC) declared the company intends to identify qualified contractors for the execution of all services for drilling offshore oil and gas wells.

Iran, Oman Start New Round of Gas Talks
TEHRAN (PIN) - Iranian and Omani oil ministers started a new round of gas talks in Tehran today, Nov. 24.

Iran Can Cope with Any Fuel Sanction
TEHRAN (PIN) – Iranian Oil Minister said Iran temporarily boosted gasoline production by 14 million liters a day.

Iran and Russia Energy Cooperation Thwarts U.S. Sanctions
Iranian-Russian energy focused cooperation would thwart U.S. sanctions, Iranian ambassador in Moscow, Mahmood-Reza Sajadi, revealed on Saturday.

Gasoline Production Rise in Esfahan Refinery
TEHRAN (PIN) – After ending optimization plan, Esfahan Rerinery will stop producing fuel oil and instead will focus on light and high-value products, including gasoline, corresponding to Euro 2005 standards, Managing Dirctor of Esfahan Refining Oil Company (EROC) says.