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.
Iran said on Friday that it will take over Qatar in production of natural gas from a key field that both share as it expects a significant rise in production from the field before March 2017.
Iran’s Power Generation and Transmission Company (TAVANIR) and the Korea Electric Power Corporation (KEPCO) have sealed a deal over expansion of cooperation in power and energy industries.
KOGAS has agreed to engineer and launch Iran’s 9th and 11th cross-country pipeline projects, based on a Memorandum of Understanding (MoU) signed with the National Iranian Gas Company on Sunday May 1, a senior NIGC official said.
Iran’s exports of oil and gas condensates have reached 2.3 million barrels per day (bpd), almost twice as much as before the Joint Comprehensive Plan of Action (JCPOA), a nuclear deal between Tehran and world powers, came into force, Iranian President Hassan Rouhani said.
Iranian Minister of Petroleum Bijan Zangeneh said Iran and South Korea can cooperate in various energy sectors including petrochemical industry, liquefied natural gas and investment of Korean companies in Iranian projects.
Iran says its gas recovery from the supergiant South Pars gas field will catch up with that of Qatar before the end of the current Iranian calendar year which began on March 20.
Iran’s Ambassador to Russia Mehdi Sanaei said Tehran and Moscow are in negotiations to promote mutual cooperation in the field of energy, and other areas.
Engineering studies over North Azadegan oilfield indicate that the field holds 30% more crude oil in its despite than was previously estimated in the field's 2008 master development plan (MDP).
NIORDC’s managing director said the volume of Iran’s gasoline exports has increased twofold since the beginning of the current Iranian calendar year [20 Mar 2016].
Iran has begun negotiations with American and Canadian oil companies on petrochemical sales, technology purchases, as well as investment in the country’s oil and gas industries.
First Vice-President Eshaq Jahangiri said that the Rouhani Administration is planning to invest $200bn dollars in oil sector in a push to develop the industry by employing new technologies.
