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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.

“US Claim of Bringing Iran’s Oil Sales to Zero Just Nonsense”

A senior Iranian official says the United States’ claim that it will bring Iran’s petroleum sales to zero is just nonsense.

Rouhani Inaugurates Three Petchem Projects in Southern Iran

Iranian President Hassan Rouhani on Tuesday inaugurated three new petrochemicals projects during his visit to the southern city of Asalouyeh in Bushehr Province.

Indian Refiners Allowed to Import Crude Oil Using Iranian Tankers, Insurance

India is allowing state refiners to import Iranian oil with Tehran arranging tankers and insurance after firms including the country’s top shipper Shipping Corp of India halted voyages to Iran due to US sanctions, sources said.

Iran in Talks with Russia for Construction of New Nuclear Plant

Iran's Energy Minister Reza Ardakanian says the country has restarted negotiations with Russia to build a new nuclear power plant capable of generating up to 3,000 megawatts of electricity.

Iran Waiting for EU to Guarantee Continued Oil Sales, Banking Ties: FM

Iran’s Foreign Minister Mohammad Javad Zarif says Tehran is still waiting for the European Union’s measures to guarantee the continued sale of Iran’s crude oil and maintaining banking ties with the bloc despite the US bans.

US Will Desperately Grant Waivers on Iran Oil Bans: Analyst

Seyyed Mehdi Hosseini, a former deputy oil minister and an energy expert, says the US has no way but to grant sanction waivers to Iran’s oil customers.

France’s Total Officially Withdraws from Iran’s South Pars Gas Project

Iran’s Petroleum Minister Bijan Zanganeh says French energy giant Total has officially left the country, ending speculations over whether it would stay to finish a gas project following the return of US sanctions against the Islamic Republic.

IRGC Confirms Reports of Holding Naval Drill in Persian Gulf

The spokesman for Iran’s IRGC confirmed on Sunday that Iranian forces have successfully staged a drill in Persian Gulf earlier this week, saying the maneuver was carried out as part of the IRGC’s annual schedule.

Iran, Sri Lanka Discuss Promotion of Energy Ties

Iran’s Foreign Minister Mohammad Javad Zarif and his Sri Lankan counterpart have conferred on expansion of bilateral ties between the two countries in various fields, especially in energy.

“Iran to Reciprocate If Its Interests Jeopardized by Enemies”

An IRGC commander says it will be “natural” for Iran to respond if the US tries to the bully the country and carry out its threat to cut down Tehran’s oil exports.

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