• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 2 hours Who writes this stuff? "Crude Prices Swing Between Gains, Losses"
  • 2 hours Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
  • 10 hours Climate Change Consensus Shifts in Wind, But Gas Is Still the Right Move
  • 12 hours World oil demand will keep growing until 2030, climate-damaging emissions longer, says IEA
  • 12 mins EU has already lost the Trump vs. EU Trade War
  • 5 hours Iran Finds New Oil Field With Over 50 Billion Barrels: Rouhani
  • 3 hours Atty General Barr likely subpeona so called whistleblower and "leaker" Eric Ciaramella
  • 2 hours Joe Biden, his son Hunter Biden, Ukraine Oil & Gas exploration company Burisma, and 2020 U.S. election shenanigans
  • 2 hours Trump On Farage's Radio Show ...
  • 1 hour Does .001 of Atmosphere Control Earth's Climate?!
  • 7 hours Iran's Master Plan?
  • 13 mins China's Renewables Boom Hits the Wall
  • 5 hours Saudi Aramco IPO Will Not Save Kingdom

Breaking News:

Oil Rebounds On Surprise Crude Draw

Iran Says It Exports First Condensate From New South Pars Phase

Iran offshore

Iran has delivered for export the first shipment from a new development phase of the giant gas field South Pars, including 300,000 barrels of condensate, Iranian media report, quoting the operator of the South Pars phase 13 project.

The delivery of the cargo for export was made last week, before Iran’s President Hassan Rouhani officially inaugurated four new phases of development at South Pars.

This past weekend, Rouhani officially launched four new development phases at the giant South Pars offshore gas field, which will add 110 million cubic meters to the daily output of the field. The expansion costs US$11 billion, Reuters reports.

Last week, Iran’s Oil Minister Bijan Zanganeh said that South Pars would produce from 27 phases of development within a year.  

After the U.S. sanctions on its oil industry returned and forced international companies to withdraw from doing business with Iran, the Islamic Republic is now developing various phases at the South Pars by itself and claims that it is doing a good job despite the U.S. sanctions.  

France’s supermajor Total had signed a deal to take part in the development of phase 11 of South Pars. But after the U.S. withdrawal from the Iran nuclear deal, Total said in May last year that it would not be in a position to continue the South Pars 11 gas project and would have to unwind all related operations before November 4, 2018, unless it was granted a specific project waiver—which it was not.

Iran, for its part, claims that its progress in energy continues despite the U.S. sanctions. At the launch of the new phases at South Pars, Rouhani said that “all the major projects, including the largest gas condensate refinery,” were brought on line, Iranian media report.

“Americans did not want us to inaugurate any important projects during the current year, but we made all projects operational on schedule,” Rouhani said, according to Fars news agency.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Jim Miceli on March 22 2019 said:
    That's nice. Also , what recession ? I think this is a maneuver and won't work to anyone's advantage. Manipulators do not make good witnesses. Fools Gold. Bounce the Markets.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play