Thursday, March 30, 2023


‘Another defeat for sea pirates:’ Greece’s top court backs Iran in oil tanker row

Greece’s Supreme Court has voted to uphold an appeals ruling in favor of Iran against the confiscation in April of an oil shipment, which later was handed over the US in what Tehran slammed as a blatant act of piracy.

Erdogan: Turkey to increase oil, natural gas imports from Iran

Turkish President Recep Tayyip Erdogan says his country will increase oil and natural gas imports from Iran.

Hungary calls for Iran ‘forceful return’ to world energy markets

The Hungarian foreign minister says Iran’s more forceful return to the global energy markets will serve the interests of all countries.

Iran launches its biggest solar panel production line

Iranian President Ebrahim Raisi unveils the country's biggest solar panel production line in Markazi Province, in central Iran.

Russia’s Gazprom participates in development of Iran’s gas and oil fields

The CEO of the National Iranian Oil Company has said $25 billion out of the $40 billion agreement with Russia’s Gazprom is for the development of Iran’s gas fields and the completion of the LNG project and $15 billion for the development of 6 oil fields in Iran.

Iran says to extract natural gas from Persian Gulf gas field in winter

Iran will be able to pump natural gas from a difficult gas field in the Persian Gulf where development works have stalled for nearly five years because of American sanctions on the country, a senior official with the Iranian Oil Ministry confirmed.

Iran signs largest foreign investment MoU in its oil industry

Iran’s national oil company and Russia’s energy giant, Gazprom, have signed a major memorandum of understanding worth billions of dollars for a joint investment in oil and gas projects, despite sanctions on both countries.

NIOC’s CEO: Company will not let any investment opportunity with Russia pass

The CEO of the National Iranian Oil Company has said the signing of strategic cooperation agreement between Iran and Russia is the biggest investment deal in the history of Iranian oil industry.

Minister: Iran eyeing long-term regional energy deals

Iran, as the top producer of electricity in West Asia, is planning on signing long-term agreements in the electricity sector as part of its active diplomacy in the region, the Iranian energy minister says.

Iranian deputy FM: Iran has launched refineries in foreign countries

Iranian Deputy Foreign Minister for Economic Diplomacy Mehdi Safari says Iran has launched refineries in three countries for the purpose of making its oil operational.

Iran to increase petrochemical production capacity by 54%

Iran is implementing propelling plans to step up its petrochemical production capacity during the administration of President Ebrahim Raisi’s tenure by 54 percent, according to IRNA.

Iran ministry: Strong oil sales cut budget deficit

The Iranian oil ministry says despite sanctions imposed by the United States, Iran’s crude sales have remained so high that the budget deficit for the current fiscal year has been eliminated.

Report: Gas production rise in Iran offsets decrease in global oil market share

Iran produced 250 billion cubic meters of gas in 2020, which accounts for 6 percent of the global share and makes up for the loss of its share in the oil market due to sanctions, according to a repot by IRNA.

Minister: Azadegan oil field’s development to generate $115bn in revenue for Iran

The Iranian oil minister says the development of the southwestern Azadegan oil field will generate an income of some $115 billion for the country as well as 24,000 jobs for people.

OPEC secretary general dies at 63

Mohammed Barkindo, the secretary general of OPEC, the powerful cartel of oil-producing countries, has passed away at the age of 63.

President Raisi attends signing ceremony for investment in major oil field

Iranian President Ebrahim Raisi says the signing of a memorandum of understanding to invest $7bn in the South Azadegan oil field, in the Persian Gulf, is an example of mobilization of domestic capabilities.

Major Iranian oil field to become operational with $7bn in domestic investment

Iran’s oil minister says the project for development of Azadegan joint oil field in the Persian Gulf, will become operational with a 7-billion-dollar funding by a consortium of mostly private sector investors.

OPEC says Iran’s oil revenues exceed $25bn

A report released by the Organization of Petroleum Exporting Countries (OPEC) shows Iran has earned more than $25 billion in revenue from oil exports in 2021.

Iranian official: Oil swap deals revived after visit by Russian, Kazakh delegations

Iranian Deputy Foreign Minister for Economic Diplomacy says the north-south corridor toward Russia has been launched and following a visit by Russian and Kazakh delegations to the Islamic Republic, oil swap deals were revived.

Iran says ready to increase oil production to balance market

The Iranian oil minister says the country is ready to increase its crude production to pre-sanctions level to strike a balance in the global market.

Iran says ready to increase gas swap with Turkmenistan for exports to Azerbaijan

Iranian President Ebrahim Raisi says the country is ready to increase the natural gas swap capacity between Turkmenistan and the Republic of Azerbaijan through Iran.

‘Iran’s natural gas exports witnessed 2-percent growth last year’

A report says Iran’s natural gas exports witnessed a 2-percent growth last year, despite the draconian sanctions imposed by the US on the Islamic Republic’s energy sector.

Iran minister: $1.6bn of Iraq’s overdue gas debt received

The Iranian oil minister has announced that Iraq has paid $1.6 billion of its gas debt to the Islamic Republic.

Iraq says will repay 2020 gas debts to Iran ‘within two days’

Iraq’s Ministry of Electricity says it will settle its debts for 2020 gas purchases from Iran “within two days,” as part of measures to avoid a halt in the flow of much-needed gas into the Arab country.

Iranian official: Export natural gas to Turkey rather than Iraq

The secretary of the Iranian Oil, Gas and Petrochemical Products Exporters Union has proposed replacement of Iraq with Turkey as the destination for Iranian natural gas exports.

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