Latest Energy News in Iran – 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.
Iranian Oil Minister Javad Owji signed eight major cooperation agreements with Venezuela and Nicaragua during his recent Latin America tour, according to a report published by the local media.
An official with the National Iranian Oil Company (NIOC) says the gas production capacity at Phase 11 of South Pars, a major natural-gas condensate field in the Persian Gulf, will reach 14 million cubic meters (mcm) per day by the end of this Persian calendar year.
Iranian Oil Minister Javad Oji has held talks with Venezuelan President Nicolas Maudro over ways of neutering the US sanctions against the two countries.
Iran’s Oil Minister Javad Oji says the country has signed 28 contracts worth one billion euros (1.065 billion dollars) to end flare burning at its industrial plants.
The naval forces of Iran’s Islamic Revolution Guards Corps (IRGC) have seized a foreign-flagged tanker carrying 200,000 liters of smuggled fuel in the Persian Gulf.
Iraq’s Prime Minister Mustafa al-Kadhimi has assigned a working group to make necessary coordination to resolve technical problems of Iraqi power plants that work with Iranian gas.
Iraq’s electricity minister says the country has not reached an agreement with Arab countries of the Persian Gulf region and will need to import natural gas from Iran for the coming years.
Iran’s Minister of Energy Ali Akbar Mehrabian says the ministry has increased 1,000 megawatts of electricity to the capacity of the country’s power plants through using knowledge-based techniques and without consuming additional fuel and allocating an extra budget for this purpose.
Iran says it will launch a plan to develop the Arash natural gas field shared with Kuwait and Saudi Arabia in the near future, after the pair agreed to begin development activities in the offshore reservoir without Tehran.
Iran’s Oil Minister Javad Owji says the country’s crude production capacity has reached more than 3.8 million barrels per day (bpd), equaling the levels that existed prior to the imposition of tough American sanctions on the country’s energy industry.
The construction of the second phase of a major natural gas storage facility and three projects as part of the “Sulphur Park” in the eastern Iranian city of Sarakhs has been launched in a ceremony with the presence of President Ebrahim Raisi.
An official at Iran’s Abadan Refinery says the first phase of a “development and stabilization” plan at the facility in southern Iran will be completed in the first half of the current Iranian calendar year.
Iran’s foreign ministry spokesman has called a newly declared agreement between Saudi Arabia and Kuwait over the exploitation of the Arash gas field illegal, saying: Tehran reserves the right to exploit the field in the Persian Gulf.
Iran’s Oil Minister Javad Oji says the country needs a $200bn investment in the upstream and downstream and petrochemical industries, the bulk of which has been raised under 50 contracts.
The National Iranian Oil Company (NIOC) says the second oil field in the country’s southwestern Fars Province has officially gone on stream, with an initial production capacity of 9,000 barrels of crude per day.
The CEO of the National Iranian Oil Company says the first refinery row of the phase 14 of the South Pars gas project in the Persian Gulf has become operational.
The National Iranian Oil Company (NIOC) voices the country’s readiness to supply oil to the global market “at a maximum level,” saying Iran’s potential return to the market could effectively help stabilize soaring crude prices.
