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.
France as one of the signatories to the nuclear deal, which had promised to protect Iran's foreign trade against US sanctions along with two European countries of Germany and the UK, has stopped oil imports from Iran in September before oil sanctions come into force.
Iranian Energy Minister Reza Ardakanian says the Islamic Republic will keep up exporting electricity to Iraq to satisfy vital needs of the neighbouring nation.
The state budget for the new Iranian year starting on March 21 assumes $21 billion of oil revenues, about 28 percent lower than this year's budget, Government spokesman Mohammad Reza Nobakht has said.
Iran is currently scouring 60 percent of its total area for new oil and gas reserves, including in places which were deemed until recently the least likely to have hydrocarbon-bearing formations.
Iranian Oil Minister Bijan Namdar Zanganeh deplored Pakistan’s inaction on completion of a gas pipeline under an agreement with Tehran, saying three foreign countries have put pressure on Pakistan to halt the project.
Iranian President Hassan Rouhani says the US sustained another defeat after the member states of the Organization of the Petroleum Exporting Countries (OPEC) reached consensus on new cuts.
Members of the Organization of the Petroleum Exporting Countries (OPEC) on Friday agreed on a cut in their oil production level but exempted Iran from the reduction.
Head of the Atomic Energy Organization of Iran says Tehran hopes the Europeans would establish the Special Purpose Vehicle (SPV), the mechanism aimed at bypassing the US bans on Iran, by the end of December.
The Iranian oil minister has lashed out at US special representative for Iran Brian Hook over his “meddlesome” meetings with members of the Organization of the Petroleum Exporting Countries in Vienna, asserting that OPEC is an independent body that does not take orders from the US.
Iranian President Hassan Rouhani has warned the United States that if the Islamic Republic is not allowed to export its crude oil, then no other country will be able to do so from the Persian Gulf.
Iran says Qatar’s decision to quit the Organization of the Petroleum Exporting Countries (OPEC) shows the frustration of small producers at the dominant role of a Saudi and Russia-led panel that determines production cuts in order to help regulate prices.
After several weeks of violent protests across France, particularly those in Paris which turned the capital into a battle zone, President Emmanuel Macron finally buckled and announced his government will suspend a controversial fuel duty rise.
The Champs-Élysées Avenue in Paris seemed more like the Gaza Strip on Saturday as French protesters with “yellow vests” threw stones at riot police forces, who used tear gas to disperse the demonstrators outraged by fuel price hikes and President Emmanuel Macron’s policies.
A senior lawmaker says Iran has changed the pattern of its oil exports to cope with the unjust US sanctions, which are aimed at cutting the exports down to zero.
A top Iranian Navy commander shrugged off US threats against the Islamic Republic and said the Armed Forces are fully ready to guarantee the security of the country’s oil tankers in international waters.
All the 700,000 barrels of crude oil released at Iran’s energy bourse were sold out at a rate of $64.97 in the second phase of supplying the Iranian crude oil through the market.
Iran’s Civil Aviation Organisation has expressed its protest at a Turkish company’s unilateral decision to refrain from providing fuel for Iranian passenger planes at Istanbul’s Ataturk International Airport.
The US administration has reportedly agreed to allow eight countries – including Japan, India and South Korea – to keep buying crude oil from Iran after it re-imposes sanctions on the OPEC producer on Nov. 5, a senior administration official said.
Officials in New Delhi say the United States has agreed to grant India a waiver from Iran sanctions so that the country would be able to maintain imports of crude oil from the Islamic Republic.
Iran has started supplying its crude oil to the private sector through its energy bourse, a local market which provides Iranian and foreign tradesmen with a chance to purchase Iran’s crude oil and export it to the international markets.
