Energy

Iran’s economy, while diversified, is still heavily influenced by the state of the oil and gas market. Read more about recent news and developments in the sector here.

Iran Rejects Rumours of Exporting Water to Kuwait

Iran's energy minister says the country has no plan or decision to export water to other states amid the ongoing water tension.

“US Can Never Stop Other Countries from Buying Iran’s Oil”

An Iranian oil official says removing Iran’s crude oil from the market is impossible after the US said it expected oil buyers to completely cut off purchases of Iranian supplies in early November.

Iran Hails OPEC’s Decision to Stick to 2016 Agreement

Iran’s Oil Minister Bijan Zanganeh says the member states of the Organization of the Petroleum Exporting Countries (OPEC) have unanimously decided to stick to their earlier agreement on oil output.

Iran against Boost in OPEC Crude Oil Output: Minister

Iran’s petroleum minister says the country sees no need for the OPEC member states to boost their oil production, as Tehran believes the recent hike in global oil prices has its roots in political tensions and not any imbalance in the market.  

Russia to Make $50 Billion Investment in Iran’s Oil Industry

Russian officials have officially expressed their intention to make a $50 billion investment in Iran’s oil industry, a media report says.

Iran Says OPEC Must Resist Trump’s Calls for Output Changes

Iranian Oil Minister Bijan Zanganeh has called on the Organization of the Petroleum Exporting Countries to resist calls from Washington to change its output policies, saying that OPEC is not a subordinate of the White House.

Iran Ready to Offer Technical, Engineering Services to DR Congo

Iran’s Deputy Foreign Minister Morteza Sarmadi says Iranian companies are ready to participate in energy and power projects in the DR Congo.

MP Calls for Punishment of Foreign Firms Leaving Iran

A member of Iranian Parliament Economic Commission says the foreign companies which have decided to leave Iran in the wake of the US withdrawal from the Iran nuclear deal should be punished.

“New US Sanctions on Iran Threat to Petrodollar”

US President Trump’s decision to pull the US out of the Iran nuclear deal has reinstated a number of sanctions that have put the petrodollar under threat.

Minister Vows to Prevent Plunge in Iran’s Oil Exports

Iran is investing efforts to maintain its oil production and exports at current levels following the US pull-out from the nuclear pact that is to restore US anti-Iran sanctions, the petroleum minister said.

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