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.
Iranian foreign policy expert Seyyed Ali Hosseini says Iraqi officials are deliberately dragging their feet on the payment of their energy debt to Iran through hampering a mechanism that’s been created for this purpose.
The United States has moved to let Iraq pay Iran for electricity via non-Iraqi banks, a US official said on Tuesday. Iraq owes billions of dollars to Iran for importing gas and electricity which has continued despite US sanctions, but Tehran has been unable to obtain its assets frozen in Iraqi banks under US pressure.
Iraqi Prime Minister Mohammed Shia al-Sudani says that Baghdad and Tehran have signed an agreement following several days of talks for "the import of Iranian gas to fuel Iraqi power plants, in exchange for Iraqi crude oil" in order to avoid falling foul of US sanctions.
Iraq's Minister of Electricity Ziad Ali Fadhil says Baghdad has fully paid its debt to Iran for energy purchases, but a number of banking issues caused by US sanctions are preventing the transfer of the sum of money to the Islamic Republic.
The Iranian Foreign Ministry spokesman has called for the demarcation and exploitation of the Arash gas field, falling in the neutral zone between Iran, Kuwait and Saudi Arabia in the Persian Gulf.
A spokesman for the Iraqi Electricity Ministry says that Iran has stopped gas exports to the country without prior notice while temperatures in Iraq have reached 51° Celsius.
An Iranian lawmaker says the country will not back down on pursuing its right in the Arash natural gas field, which is shared with Kuwait and Saudi Arabia, amid a dispute between Tehran and its two Persian Gulf neighbors over the case.
Iranian Oil Minister Javad Owji and Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman Al Saud have explored the possibility of joint investments in oil and gas industry.
Iran’s Oil Minister Javad Owji says that the country has inked $40 billion worth of oil contracts with domestic and foreign companies over the past 20 months.
Yahya Al-e Es'haq, chairman of the Iran-Iraq Joint Chamber of Commerce, has confirmed that the Iraqi government has released all of Tehran’s frozen assets, amounting to $10 billion worth of energy debts.
Iranian President Ebrahim Raisi inaugurates a national project to transfer water from the Nesa Dam’s reservoir to the cities of Bam and Baravat in Kerman Province, southern Iran.
The secretary of Iran's refining industry union says the country’s refineries are producing 110 to 115 million liters of gasoline daily, which has met the local demand so far.
Iranian Offshore Oil Company (IOOC) has announced that Tehran is preparing to hike its production from an oilfield that is shared with Riyadh in the Persian Gulf.
Iran successfully completes the operation to install the heaviest platform of South Pars in place, as the country pushes to operationalize the Phase 11 of the giant Persian Gulf gas field.
Iranian Oil Minister Javad Owji says the administration of President Ebrahim Raisi has succeeded in identifying good markets and capacities for selling crude. Owji noted that when Raisi took office, the oil exports were very low but this administration boosted them.
Iran's crude exports and oil output in 2023 have hit new highs despite US sanctions, according to consultants, shipping data and a source familiar with the matter, according to a report by Reuters.
Iranian Oil Minister Javad Owji says Tehran has exported over 2.8 million units of spare parts meant for reviving refineries in Venezuela, as the two states move to bolster trade ties in the face of US sanctions.
Berlin has resumed its petroleum imports from Tehran after five years despite a continued regime of US sanctions that bans any trade of energy products with Iran, according to a report.
Head of the Iran-Iraq Joint Chamber of Commerce Yahya Al-e Es’haq announced on Saturday that Baghdad has released $2.7 billion worth of Iranian funds in gas export money frozen due to the US sanctions.
