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.

Energy

3 EU states importing Iranian oil despite US sanctions: Report

IFP Media Wire -
Three European Union (EU) countries have imported oil from Iran in 2022 despite US sanctions that impose penalties on governments and entities involved in energy trade with Tehran.
Energy

Iran, Venezuela oil ministers sign agreements to broaden energy ties

Mahdi Arman -
The Iranian and Venezuelan oil ministers have signed new agreements for broader cooperation in the energy sector, in the face of the draconian economic sanctions imposed on both countries by the US.
Foreign Policy

Beijing’s envoy: Iran oil sales to China on track despite sanctions

IFP Editorial Staff -
The Chinese ambassador to Tehran says the sales of Iranian oil to China is on track “without any problem,” despite the harsh US sanctions in place against the Islamic Republic’s energy sector.
Energy

OPEC figures show Iran’s oil output at 2.567 mln bpd in March

IFP Media Wire -
Figures by The Organization of the Petroleum Exporting Countries (OPEC) shows Iran’s oil output in March was almost unchanged from February.
Energy

IEA warns OPEC+ output cuts risk oil supply deficit, threaten economic recovery

IFP Media Wire -
The International Energy Agency (IEA) has warned that output cuts announced by OPEC+ producers risk exacerbating an oil supply deficit expected in the second half of the year and could hurt consumers and global economic recovery.
Energy

Iran’s oil minister arrives Venezuela

IFP Media Wire -
Iranian Oil Minister Javad Owji is in Caracas, exploring ways of "strengthening relations and cooperation in the field of energy" between Iran and Venezuela.
Energy

Sources say Saudi Arabia to maintain crude supply in several Asian refiners despite OPEC+ cuts

IFP Media Wire -
Saudi oil giant Aramco will supply full crude contract volumes loading in May to several North Asian buyers despite its pledge to cut output by 500,000 barrels per day, several sources with knowledge of the matter said on Monday.
Energy

US official says Biden admin. disagreed with OPEC cut plans

IFP Media Wire -
The Biden administration told Saudi officials that it disagreed with OPEC’s surprise decision to cut oil production when it was given a ‘heads up’ on the move, John Kirby, coordinator for strategic communications at the US National Security Council, told reporters.
Energy

Oil prices jump after OPEC surprise production cuts

IFP Media Wire -
Oil prices have surged after Saudi Arabia and other OPEC+ producers announced a surprise round of output cuts. The oil producers, who control roughly 50% of global oil supplies, reached a decision to reduce their output starting from May until the end of 2023, in a move designed to stabilize the markets.
Energy

Iran launches major development phase at Abadan refinery

IFP Editorial Staff -
Iran has launched the first section of the second phases of a major project for development and stabilization of capacity at its Abadan refinery in the country's south.
Energy

Iran oil exports set record high in 4 years despite sanctions: Minister

IFP Editorial Staff -
Iranian Oil Minister Javad Owji said the country’s oil exports reached the highest level in four years including in the current Persian calendar year which will end on March 20.
Economy

Official: US allowed Iraq to release frozen Iranian assets worth hundreds of millions

IFP Editorial Staff -
An Iranian official says the US has allowed Iraq to released Iranian assets worth $500 million, as the two neighbors make efforts to boost economic and energy cooperation despite American sanctions.
Energy

Iran launches new Phase of giant Gas Field in Persian Gulf

IFP Editorial Staff -
Iran has inaugurated Phase 14 of the South Pars Gas Field in the Persian Gulf during a ceremony attended by President Ebrahim Raisi.
Energy

Iran ups oil prices for Asia: Report

IFP Media Wire -
Iran has raised the official selling price (OSP) of its Light crude oil grade for Asian buyers, a report says.
Energy

Saudi Arabia warns anti-Russian sanctions could result in energy shortages

IFP Media Wire -
Saudi Energy Minister Prince Abdulaziz bin Salman has warned Western sanctions against Moscow could result in a shortage of energy supplies in future.
Energy

Minister: Iran oil revenues up 40 percent, sets record in gas production

IFP Editorial Staff -
Iran’s oil minister says the country’s oil revenues have increased by 40 percent in the past 10 months compared to the same period last year.
Energy

US says to mount pressure on China to stop importing Iran oil

IFP Media Wire -
The US envoy on Iran says Washington will increase pressure on China to cease imports of Iranian oil. China is Iran’s biggest oil customer, according to reports.
Energy

Cold spell causes gas shortage in some Iranian cities

IFP Editorial Staff -
Natural gas shortage and outages have caused troubles for citizens in parts of Iran amid a persisting cold snap in the country.
Energy

Iran oil exports end 2022 at a high despite sanctions

IFP Media Wire -
Iranian oil exports hit new highs in the last two months of 2022 and are making a strong start to 2023 despite US sanctions, according to companies that track the flows.
Energy

‘Value of Iran’s sales of oil products reached $6bn in eight months’

IFP Editorial Staff -
The head of the Iranian Parliament’s Program and Budget Commission says the value of Iran’s exports of oil products reached 6 billion dollars over the past eight months, despite the draconian US sanctions in place against the country’s energy sector.
Energy

German political party says Berlin should buy gas from Iran

IFP Media Wire -
To meet its energy needs, Germany should negotiate with Iran on gas supplies, according to the leader of the far-right Alternative for Germany (AfD) party, Tino Chrupalla.
Energy

US bans preventing Iran from paying dues to OPEC: Oil minister

IFP Media Wire -
Iranian Oil Minister Javad Owji says US sanctions have prevented Iran form paying its dues to the Organization of Petroleum Exporting Countries (OPEC).
Energy

Oil ministers of Iran, Venezuela discuss closer energy cooperation

IFP Editorial Staff -
The oil ministers of Iran and Venezuela hold talks on ways to further expand bilateral energy cooperation, despite the tough American sanctions against both oil-producing nations.
Economy

Iran’s oil exports continue despite US sanctions: Raisi

IFP Media Wire -
Iranian President Ebrahim Raisi has stated that the enemy wanted to interrupt Iran’s trade with sanctions, but the country's oil and non-oil exports did not halt for a moment.
Energy

Foreign ministry: Iranian oil tanker seized by Greece, released

IFP Editorial Staff -
An Iranian-flagged oil tanker confiscated by Greece six months ago off the Greek waters, has left for its pre-designated destination, the Iranian foreign ministry announced on Wednesday.
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