Energy

The deputy commander of Iran’s Islamic Revolution Guards Cords (IRGC) says the country will act in kind if the United States empties the cargo of an Iranian tanker that it has illegally seized to use or sell.

Figures by the Organisation of the Petroleum Exporting Countries (OPEC)  shows that Iran’s natural gas production rose by 2% in 2022 despite sanctions imposed on the country’s energy sector.

Figures by the Organization of Petroleum Exporting Countries (OPEC) shows that Iranian oil export revenues rose by 67% last year despite continued pressure of US sanctions on Tehran.

Iran’s Oil Ministry says the cargo of a supertanker seized by Indonesia earlier this month does not belong to the Islamic Republic.

The commander of Iran’s Islamic Revolution Guards Corps (IRGC) Navy has warned against unloading the Iranian oil from a seized tanker by the US.

Iranian foreign policy expert Seyyed Ali Hosseini says Iraqi officials are deliberately dragging their feet on the payment of their energy debt to Iran through hampering a mechanism that’s been created for this purpose.

The United States has moved to let Iraq pay Iran for electricity via non-Iraqi banks, a US official said on Tuesday. Iraq owes billions of dollars to Iran for importing gas and electricity which has continued despite US sanctions, but Tehran has been unable to obtain its assets frozen in Iraqi banks under US pressure.

Iraqi Prime Minister Mohammed Shia al-Sudani says that Baghdad and Tehran have signed an agreement following several days of talks for "the import of Iranian gas to fuel Iraqi power plants, in exchange for Iraqi crude oil" in order to avoid falling foul of US sanctions.

Iraq's Minister of Electricity Ziad Ali Fadhil says Baghdad has fully paid its debt to Iran for energy purchases, but a number of banking issues caused by US sanctions are preventing the transfer of the sum of money to the Islamic Republic.

The Iranian Foreign Ministry spokesman has called for the demarcation and exploitation of the Arash gas field, falling in the neutral zone between Iran, Kuwait and Saudi Arabia in the Persian Gulf.

A spokesman for the Iraqi Electricity Ministry says that Iran has stopped gas exports to the country without prior notice while temperatures in Iraq have reached 51° Celsius.

The International Energy Agency (IEA) on Sunday announced that Iran’s oil production volume in May 2023 reached 2.870 million barrels per day (bpd).

Iran’s deputy roads and urban development minister has announced that 130,000 ships dock at the country’s ports annually in defiance of US sanctions.

An Iranian lawmaker says the country will not back down on pursuing its right in the Arash natural gas field, which is shared with Kuwait and Saudi Arabia, amid a dispute between Tehran and its two Persian Gulf neighbors over the case.

Iranian Oil Minister Javad Owji and Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman Al Saud have explored the possibility of joint investments in oil and gas industry.

Iran’s Oil Minister Javad Owji says that the country has inked $40 billion worth of oil contracts with domestic and foreign companies over the past 20 months.

Figures by the Energy Institute (EI) shows that Iran exported nearly 19 billion cubic meters (bcm) of natural gas in 2022.

Yahya Al-e Es'haq, chairman of the Iran-Iraq Joint Chamber of Commerce, has confirmed that the Iraqi government has released all of Tehran’s frozen assets, amounting to $10 billion worth of energy debts.

Minister: Iran to make 300 million dollars per annum by producing ethane

Iranian President Ebrahim Raisi inaugurates a national project to transfer water from the Nesa Dam’s reservoir to the cities of Bam and Baravat in Kerman Province, southern Iran.

The secretary of Iran's refining industry union says the country’s refineries are producing 110 to 115 million liters of gasoline daily, which has met the local demand so far.

Iranian Offshore Oil Company (IOOC) has announced that Tehran is preparing to hike its production from an oilfield that is shared with Riyadh in the Persian Gulf.

Iran successfully completes the operation to install the heaviest platform of South Pars in place, as the country pushes to operationalize the Phase 11 of the giant Persian Gulf gas field.

Iranian Oil Minister Javad Owji says the administration of President Ebrahim Raisi has succeeded in identifying good markets and capacities for selling crude. Owji noted that when Raisi took office, the oil exports were very low but this administration boosted them.

Iran is the third-largest worldwide provider of subsidies for energy consumption, a new report by the World Bank shows.