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.
Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei says enemies are using oil as a political tool to exert pressure on oil exporting countries.
An Iranian energy expert says Saudi Arabia’s deliberate manipulation of oil prices and its overproduction are to blame for the sharp pains the glutted market feels.
Iran's oil minister has said that as promised before the country will increase its gas production from South Pars by 100 million cubic meters [per day] by yearend [March 2015].
Iran has allocated USD 15.2 billon for the development of joint oilfields with neighboring Iraq as part of the Islamic Republic’s plans to increase its oil output.
An Iranian MP did not rule out the possibility of a contractual penalty delay on Pakistan after it failed to honor its obligations under a joint gas pipeline project with Iran.
Oil Minister Bijan Namdar Zanganeh has said that Iran's gas output has surpassed 70 million cubic meters and is estimated to reach 100 million by year-end.
A slump in prices is temporary and it will be “difficult, if not impossible” for OPEC to curb its oil production amid a glut, said Ali Al-Naimi, Saudi Arabia’s oil minister.
Chief of Staff of the Iranian Armed Forces Major General Hassan Firouzabadi has said that Saudi Arabia has decreased crude prices to place pressure on regional countries which are fighting ISIL terrorists.
Iran’s foreign minister has said that Tehran is ready to promote all-out ties with Iraq, adding that Iraq’s progress and security is intertwined with that of Iran.
Consensus among all members will determine whether or not an extraordinary meeting of OPEC should be held in case global oil prices continue to drop, said the Iranian oil chief.
Oil Minister Bijan Namdar Zanganeh says it is not only up to OPEC to deal with growing market oversupplies, adding non-OPEC producers should to cooperate to limit oil production.
