Saturday, November 26, 2022

Energy

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.

Iran-flagged tanker carrying crude reaches Venezuelan waters

An Iran-flagged tanker carrying about 1 million barrels of crude from the Middle Eastern country arrived in Venezuelan waters over the weekend, according to a shipping document seen by Reuters on Monday.

Iranian MP denies government plans to raise fuel prices

A member of the Iranian parliament’s energy commission has dismissed reports making the rounds on social media about plans to raise fuel prices.

Iran and Azerbaijan sign deal to increase gas swap

Iran and the Republic of Azerbaijan have signed a deal to double the amount of Turkmenistan’s gas that is transferred to Azerbaijan through the Islamic Republic’s territory under a swap deal.

Iran says capable of meeting large part of global needs for gas

Iranian Oil Minister Javad Oji says the country is capable of meeting a large part of global needs for gas as it sits on one of the largest gas reserves of the world.

Report: Saudi Arabia likely to boost oil production

Saudi Arabia may agree to boost oil production to cool skyrocketing prices if Russia’s output falls significantly under the new EU sanctions, according to a report.

Iran seizes ship carrying smuggled fuel

The top judiciary office in Iran’s southern province of Hormozgan says a vessel carrying over 106,000 liters of diesel has been seized near the southern Island of Qeshm, for smuggling fuel.

Iran and Russia ink three MoUs on energy and banking

Tehran and Moscow have signed three major memoranda of understanding (MoU) to expand bilateral cooperation in the fields of energy and banking, Iran’s Oil Minister Javad Owji says.

Iran seizes smuggled fuel, 5 arrested

The Iranian police have seized more than 418 thousand liters of smuggled fuel in the Persian Gulf.

Iran, Oman agree to revive natural gas export deal

Iran and Oman have agreed to revive a deal for natural gas exports to the latter and jointly develop Hengam natural gas field in the Strait of Hormuz in the Persia Gulf.

Qatar FM: Return of Iran crude to market helps stabilize prices

Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani says the return of Iranian oil to world markets will help stabilize oil prices.

Iran FM: Energy, transportation major fields for Tehran-Baku expansion of ties

The top Iranian diplomat described the energy and transportation sectors as two major pillars for expansion of economic cooperation between Iran and Azerbaijan Republic.

Iran oil minister: It takes time for Russia to find oil customers amid sanctions

The Iranian oil minister says it will take time for Russia to find customers for its crude given the tough sanctions imposed on its energy sector by the West, despite the discounts that Moscow offers in the sales.

Saudi Arabia’s energy minister invites Iran to talks over joint Arash gas field

Saudi Arabia’s energy minister says Riyadh has officially invited Tehran to talks over the joint Arash gas field in the Persian Gulf.

Iranian official: Tehran mulling over gas exports to Europe

An Iranian oil ministry official says the country is mulling over gas exports to Europe, which is facing an energy crisis due to the Ukraine war.

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