Energy

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.

Media Wire

Iran’s oil exports hit pre-sanctions high

IFP Media Wire -
Reports say Iran has already been able to increase its oil exports to levels that existed before sanctions were imposed on the country in 2011. 
Energy

Iran Says Higher Global Oil Prices Essential

IFP Media Wire -
Iranian President Hassan Rouhani says oil producing countries must take decisions to increase the oil price at international markets.
Energy

Saudis Recognize Iran’s Exemption from Oil Freeze

Golrokh Askarieh -
OPEC member states have achieved an agreement to control production cap, a decision which immediately impacted the markets with oil prices improving.
Energy

Iraq to Media between Tehran and Riyadh to Support Oil Prices

IFP Editorial Staff -
Iraq is reportedly mediating between Iran and Saudi Arabia to bring about an agreement that would lift crude prices, at a meeting of crude-producing nations in Algiers, Iraqi Oil Minister Jabar Ali al-Luaibi said.
Energy

Iran Now Has the Edge in Fight over Oil Prices with Saudi Arabia: Report

IFP Editorial Staff -
In an article, Bloomberg has discussed the recent developments in the oil market, particularly the rivalry between Iran and Saudi Arabia.
Energy

Iran to attend key oil meeting in Algeria

IFP Media Wire -
Iran’s media say the country’s Oil Minister Bijan Zangeneh will attend the 15th Ministerial meeting of the International Energy Forum (IEF) which will open in Algiers on 26 September. 
Energy

Iranian Parliament Endorses New Oil Contract Model

Golrokh Askarieh -
Iran’s parliament has reportedly given the go-ahead to the government to put a new oil contract model into effect.
Media Wire

UK Blocks Iran’s Gas Revenues Over Bans

IFP Media Wire -
Iran says it has been paid for selling natural gas from a field that it jointly owns with BP in the North Sea but the payments cannot be accessed due to sanctions.
Nuclear

‘China May Build Iran’s 4th Nuclear Plant’

IFP Media Wire -
Head of the Atomic Energy Organization of Iran says European and Chinese companies are interested in the country’s nuclear power generation plans.
Energy

Oil Exporters, Consumers Both Harmed by Unstable Market, Low Prices

Fatemeh Askarieh -
Iranian President Hassan Rouhani says an unstable oil market and low prices will be detrimental to both oil exporting countries and consumers.
Economy

Iran Supports Measures Aimed at Stabilizing Oil Market: Minister

Fatemeh Askarieh -
Iranian Minister of Petroleum Bijan Zanganeh says the Islamic Republic supports any potential measures aimed at restoring stability to global oil markets, implying, however, that oil prices should be set at reasonable levels.
Energy

Iran Rebukes Saudi Arabia ahead of OPEC Meeting

IFP Media Wire -
An Iranian oil official said the country is ready to help restore balance to the oil market but did not hold out much hope given that some producers are pumping crude at record levels.
Energy

Producing Oil and Gas out of Algae in 20 Minutes

IFP Editorial Staff -
Iranian researchers invented a device that turns algae into petroleum in just 20 minutes.
Energy

Tehran, Baku to Jointly Build Power Plants

IFP Media Wire -
Iranian lawmakers have approved a bill on joint construction of two hydropower plants with Azerbaijan Republic.
Energy

Iran to Hold First Oil Tender in Mid-Oct.

IFP Media Wire -
Iran will hold its first tender of an oil field for development under the new contract model around the end of the Iranian month of Mehr on Oct. 21, an official says.
Energy

Iraq Mulls Selling Oil through Iran: Report

IFP Media Wire -
The Iraqi government says it may consider shipping crude through Iran if talks with the local Kurdish administration on oil revenue sharing fall apart.
Energy

Will Iran Join Oil Production Freeze Initiative?

IFP Editorial Staff -
Oil prices have jumped after unconfirmed reports say Iran, which is currently producing almost 4 million barrels per day (bpd), may join a push to freeze production at current levels.
Energy

Iran Breaks Records by Exporting 7m Barrels of Oil in One Day

IFP Editorial Staff -
An Iranian oil official says the country has broken many records in oil and gas exports after the implementation of nuclear deal between Tehran and world powers, one of which is the export of 7 million barrels of crude oil in just one day.
Energy

Iran’s Supertanker, Container Ship Collide in Singapore Strait

IFP Media Wire -
A large container ship has collided with an Iranian supertanker in the busy Singapore Strait, causing damage to both vessels, but no injuries or oil pollution, the Maritime and Port Authority of Singapore (MPA) says.
Energy

Blazes in Iran’s Petchem Plants Caused by Lack of Funding for HSE: Zanganeh

IFP Media Wire -
Iranian Oil Minister Bijan Namdar Zanganeh said the main reason behind recent blazes at a number of petrochemical complexes in the country is the failure of some private companies to provide funding for Health, Safety and Environment (HSE) parameters.
Energy

Iran Self-Sufficient in Gas Industry: Minister

IFP Media Wire -
Minister of Industries, Mines and Trade Mohammad-Reza Nematzadeh said on Monday, August 1, that the Iranian gas industry is now fully indigenous as the majority of its equipment is made inside the country.
Energy

CNG Supplies Earmarked for Chabahar Power Plant: NIGC

IFP Media Wire -
Managing Director of National Iranian Gas Company Hamid-Reza Araqi said the NIGC will supply Chabahar Power Plant with compressed natural gas (CNG).
Energy

Temperature Rise Cause Saudi Crude Oil Exports to Plummet

IFP Editorial Staff -
After a considerable temperature rise, Saudi Arabia’s crude oil exports have dramatically declined as the country’s power plants must consume higher amounts of crude oil to cope with the increased demand of the hot season.
Environment

Iran to Launch Tender to Attract $12bn Green Investment

Fatemeh Askarieh -
Iran’s Energy Minister Hamid Chitchian revealed the country’s plan to put out a major tender in a bid to draw $12 billion of investment in development of a series of utility-scale renewable-energy projects by year end.
Media Wire

Iran’s Oil Output at Highest Level in 5 Years

IFP Media Wire -
The latest market figures show that Iran’s oil production has already hit the highest level in the past five years – what could mark a major achievement for the country only months after the removal of sanctions in January.
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