The Gas Exporting Countries Forum (GECF) has expressed alarm about Israeli attacks against Iran in recent months, warning that such moves pose serious risks to global energy chain.
Iranian Energy Minister Abbas Aliabadi has announced that there are no power outages currently across the country as the electricity supply has been stable, and sufficient fuel has been secured to prevent any blackouts.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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).
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.
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.
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.
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.
