Managing Director of the National Iranian Oil Engineering and Construction Company (NIOEC) Hamid Sharif Razi said that the firm is in need of investment to the tune of 3.3 billion dollars to carry out the under construction refinery projects. He told Shana that completion and launching of unfinished projects top NIOEC’s agenda and that to […]

Seoul’s January imports stood on average at 670,000b/d, down 2% year-on-year. Saudi Arabia supplied 110,000b/d during the month to South Korea which is nearly 13% lower from last year’s January. But Iran exported 210,000b/d during January to South Korea which is 145,000 barrel/day higher than the same month last year. Furthermore, imports from Russia rose […]

Manouchehr Asadi, NIDC’s project manager, has said drilling projects at the oilfield, which Iran shares with neighboring Iraq, are 75% complete. NIDC has placed 8 drilling rigs in the region which have so far finished spudding 28 wells and are to drill another 8 wells at the field. 40 wells of the project are expected […]