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Energy

Daily: Gasoline price in Iran hits ‘catastrophic’ lows of three cents per liter

IFP Editorial Staff -
Gasoline prices in Iran have reached an unprecedented low of just three cents per liter, making it the second-cheapest in the world after Venezuela, an Iranian newspaper raised the alarm.
Energy

Iran takes bold step to facilitate investment in its power plants

IFP Editorial Staff -
Iranian Energy Minister Abbas Aliabadi held a meeting with the chairman of the National Development Fund of Iran (NDFI) Mehdi Ghazanfari to remove the obstacles in drawing investment in the private sector and expand its power plants.
Energy

Iran’s daily gasoline use hits all-time record: Official

IFP Media Wire -
Daily gasoline use in Iran reached an all time high of 142 million liters on August 31, an official in the country’s Oil Ministry has announced.
Energy

Iran says has defused Western sanctions on gas condensates exports

IFP Editorial Staff -
Iran’s oil minister says the country has rendered the US-led Western sanctions on gas condensates exports completely ineffective.
Energy

Iran ranks 7th in electricity generation in world

IFP Editorial Staff -
Iran’s minister of energy says the country has experienced a leap in electricity production, citing a recently released report by Energy Institute (EI) on the surge in energy production in different countries.
Energy

Iranian oil min.: Tehran-Moscow ties will continue growing 

IFP Editorial Staff -
Iran's Oil Minister Javad Owji says Tehran will continue the policies of late president Ebrahim Raisi including in the energy sector.
Energy

Iran has potential to become energy hub: President Raisi

IFP Media Wire -
President Ebrahim Raisi expressed Iran’s readiness to become a energy hub, stating that his country could turn into a safe route for the transfer and distribution of natural gas among suppliers and consumers.
Energy

Global oil prices may double: Report

IFP Media Wire -
Global prices for crude oil will double if disruptions triggered by Yemen’s Houthis also affect the Strait of Hormuz, Daan Struyven, Goldman Sachs’ head of oil research, has told CNBC in an interview.
Security

Gas stations in Iran back online after cyberattack

IFP Editorial Staff -
Almost all gas stations in Iran are operational a day after about 70 percent of the pumps were hit in a cyberattack, the Iranian deputy oil minister said Tuesday.
Security

Iran oil minister: Gas stations hit in cyberattack

IFP Editorial Staff -
Iran’s Oil Minister confirmed that about two thirds of the gas stations across the country were disrupted after they were targeted in a cyberattack on Monday.
Energy

Official: Gas stations disrupted in Iran, technical glitch will be tackled soon

IFP Editorial Staff -
A technical error has knocked fuel rationing system in Iran off course, the head of the Gas Stations Union confirmed, adding offline fueling system at non-subsidiary prices has not been affected.
Energy

Minister: Iran to increase oil production to 3.6mn barrels per day in months

IFP Editorial Staff -
Iran’s oil minister says the country is planning on increasing its crude production to 3.6 million barrels per day by the end of the current Iranian year, on March 20, 2024, and aims to hit the 4 million mark next year.
Middle East

IEA head says Middle East violence may ripple through global oil markets

IFP Media Wire -
The ongoing escalation of the Israeli-Palestinian conflict could have a detrimental impact on the oil market and energy security worldwide, International Energy Agency (IEA) Executive Director Fatih Birol has cautioned.
Energy

Iran inaugurates power plant for industries in Isfahan’s Mobarakeh

IFP Editorial Staff -
Iranian President Ebrahim Raisi inaugurated a combined cycle power plant earlier on Friday in Isfahan’s Mobarakeh Steel Company as part of a larger plan to help industries generate the power they need and remove obstacles for production.
Energy

Saudi Arabia, Russia extend oil supply cuts

IFP Media Wire -
Oil prices hit a new high for the year so far after Saudi Arabia and Russia — the world’s biggest crude exporters — announced they would extend output cuts by at least another three months.
Energy

Minister: 33 oil projects made operating in Iran with a $12bn investment

IFP Editorial Staff -
Iranian Oil Minister Javad Oji says since the start of the current administration in Iran two years ago, 33 half-completed projects have been inaugurated using a $12 billion investment. 
Energy

Dozens of oil, gas projects to come on stream within months: Iran’s VP

IFP Media Wire -
Iran’s First Vice President Mohammad Mokhber has stated that 67 oil and gas projects will be put into operation by the end of the current Iranian calendar year (March 19, 2024).
Energy

Iranian officials seek to allay concerns over “gasoline shortage, price hike”

IFP Editorial Staff -
While Iranian officials have rejected reports that the government is planning to increase gasoline prices at the pump, unofficial sources have not ruled out the price hike.
Energy

Iran installs heaviest platform at Phase 11 of South Pars Gas Field, Persian Gulf

IFP Editorial Staff -
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.
Energy

World Bank says Iran has become world’s 3rd largest energy subsidizer

IFP Media Wire -
Iran is the third-largest worldwide provider of subsidies for energy consumption, a new report by the World Bank shows.
Middle East

Saudi Arabia says to slash oil output by 1 million barrels a day from July

IFP Media Wire -
Saudi Arabia announced the decision to expand voluntary cuts to its crude oil output from July in a bid to help efforts to reinforce global oil prices. The rest of the OPEC+ oil producers have already agreed to extend earlier cuts in supply through the end of 2024.
Americas

Oil prices continue to rise, tighter market expected

IFP Media Wire -
Oil prices continued to climb on Tuesday with investors expecting a tighter market led by a seasonal rise in gasoline demand and supply cuts from OPEC+ producers, though concerns over the risk of a US debt default capped gains.
Europe

Russia’s oil exports climb to highest levels since start of Ukraine war

IFP Media Wire -
Russia's oil exports have risen to their highest levels since the country attacked Ukraine more than a year ago.
Energy

Iran ranks first worldwide in oil pipeline construction: Report

IFP Media Wire -
Iran has topped world’s leading countries in construction of oil transmission pipelines despite US-led sanctions targeting the country’s energy sector, according to a report.
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.
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