National Iranian Oil Company seeks to boost production hand-in-hand with private sector
09:46 (UTC+04)
Economy
The National Iranian Oil Company (NIOC) aims to raise crude oil production by 250,000 barrels per day and refining by 520,000 barrels with private sector support. Contracts worth $1.6 billion have been signed to boost gas production, including at the Gordan and Pazen fields. By March 20, 2026, three to four more gas sector contracts are expected.
