Iran plans oil export terminal outside Gulf

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Iran plans oil export terminal outside Gulf

Reuters - May 21, 2012
(Adds background on Caspian oil find, capacity increase plans) May 21 (Reuters) - Iran plans a new oil terminal outside the Strait of Hormuz to protect its exports against potential problems in the Gulf and to boost shipments of Caspian oil, the oil ministry news website said on Monday. Tehran had threatened to block the vital Gulf oil shipping route during its long standoff with the West over its nuclear programme. The Shana website reported the head of the Iranian Oil Terminals Company (IOTC), Pirouz Mousavi, saying Iran plans to build a ...

Caspian Sea Yields Oil, Iran Discovers Anew

Nasdaq - May 20, 2012
For the first time ever after more than a century, Iran discovered oil in the waters of the Caspian Sea, state-run Fars news agency reported. Quoting the National Iranian Oil Co., the news agency said Iran discovered a deposit that is tantamount to 7 per cent of its existing known reserves. It was drilled on a natural-gas field at 2.5 kilometers or 1.5 miles deep. It may yield a production equivalent to 10 billion barrels of crude oil. "Iran has never found anything in its section of the Caspian because it's deep water, so these would be ...

Iran finds first Caspian Sea oilfield in 104 years, Fars reports

Iran Focus - May 20, 2012
Iran has discovered its first oilfield in the Caspian Sea for more than a century, the state-run Fars news agency reported today. The deposit was found at a depth of 2.5 kilometers (1.5 miles) during drilling on a natural-gas field and may contain 10 billion barrels of crude, according to the National Iranian Oil Co., Fars said. The strike is the first in the Caspian Sea for 104 years, the agency cited Khazar Exploration and Production Co. Managing Director Ali Osouli as saying. While Iran is the second-largest oil producer in the ...

Iran Finds Its First Caspian Sea Oil for More Than a Century

Business Week - May 20, 2012
Iran has discovered oil in its Caspian Sea waters for the first time in more than a century, the state-run Fars news agency reported. The deposit was found at a depth of 2.5 kilometers (1.5 miles) during drilling on a natural-gas field and may contain 10 billion barrels of crude, Fars said, citing the National Iranian Oil Co. That’s equal to 7 percent of Iran’s known reserves. While Iran is the second-largest oil producer in the Organization of Petroleum Exporting Countries, most existing fields are in the south and the Persian Gulf. ...

Iran plans new oil export terminal outside Hormuz

Gulf Times - May 21, 2012
Iran plans a new oil terminal outside the Strait of Hormuz to protect its exports against potential problems in the Arabian Gulf and to boost shipments of Caspian oil, the oil ministry news website said yesterday. Tehran had threatened to block the vital Gulf oil shipping route during its long standoff with the West over its nuclear programme. The Shana website reported the head of the Iranian Oil Terminals Company (IOTC), Pirouz Mousavi, saying Iran plans to build a new export terminal at Bandar Jask, on the Gulf of Oman coast of Iran. It ...

Iran says it's found new Caspian oil field

UPI - May 21, 2012
An Iranian official said his company encountered a new oil field in its territorial waters of the Caspian Sea and would work to survey the find. Ali Osouli, managing director of the Khazar Exploration and Production Co., in Iran said operators had encountered an oil pay of at least 78 feet thick in the deep waters of the Caspian Sea. "After 104 years this is for the first time oil is erupted in Caspian Sea waters during drilling operations," he told the Oil Ministry's official Petroenegy Information Network, or SHANA. Osouli said oil was ...

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