Energy Market

Economist Explains Reasons for Advocating Fuel Rationing in Iran

One of the most fervent advocates of new regulations on fuel consumption in Iran says a series of public protests in the wake of a recent hike in the price of subsidized gasoline had other social reasons.

Iran Foils Enemy’s Plot to Launch Major Attack on Its Oil Pipelines

Iran says it has managed to foil the enemies' plot to blow up the country’s oil pipelines in Asalouyeh, apparently hatched in retaliation for Yemeni forces’ September attack on Saudi Arabia’s Aramco oil facilities.

Cash Subsidies Paid to 60m Iranians after Gas Price Hikes

A senior Iranian official says cash subsidies to improve the Iranian people’s livelihoods have been paid to some 60 million citizens in the past few days after gasoline prices were tripled.

Iran Leader Backs Government’s Gas Price Hike

Leader of Iran's Islamic Revolution Ayatollah Seyyed Ali Khamenei has strongly supported the government's recent decision to ration gasoline and increase its price despite the sporadic protests across the country.

President, Speaker, Judiciary Chief Hold Meeting on Fuel Price Hikes

The recent decision to triple the fuel prices, which has caused sporadic protests across the country, was discussed on Saturday in a meeting of the Supreme Council of Economic Coordination.

Demonstrators Take to Streets to Protest Fuel Price Hike in Iran

Sporadic protests have erupted in various Iranian cities on Saturday one day after gasoline prices were tripled without any earlier announcement.

Iran Substantially Raises Gasoline Prices

Iran has begun rationing on the purchase of gasoline and substantially increased the price of fuel in a move to assist the needy.

Iran Oil Minister Gives Details of Newly-Discovered Oilfield

The Namavaran oilfield recently discovered in Khuzestan Province, south-west of Iran, is the country's second largest reservoir, Iranian Minister of Petroleum Bijan Namdar Zangeneh said.

New Large Oil Field Discovered in Iran: President Rouhani

The Iranian president says a large new oil field with proven reserves of 53 billion barrels of crude has been discovered in the country.

New Gas Field Discovered in Southern Iran

Iran has discovered a new gas field, called Eram, in the southern part of Fars province.

‘Iranian Oil Tanker Struck in Red Sea to Arrive Home within Days’

Iran says that its oil tanker hit by two missiles on Friday morning in the Red Sea near the Saudi port city of Jeddah is on the way back home and would arrive in Iran within 9 or 10 days.

Massive Onshore Gas Field Found in Southern Iran

Iran has discovered a massive onshore gas field in the country’s south after a year of exploration, Fars news agency reported on Wednesday.

Iran’s Petropars to Develop South Pars 11 Alone after CNPC’s Pullout

Iranian Minister of Petroleum Bijan Zangeneh says the Iranian company Petropars will develop the Phase 11 of giant gas field South Pars after the Chinese company CNPC International pulled out of the contract.

Iran Denies Reports of Cyber-Attack on Its Oil Facilities

The cyberspace security centre of Iran president's office (AFTA) has in a statement rejected Western media reports that Iranian oil facilities and other vital infrastructure have been targeted by successful cyber-attacks.

Iran Digging for New Gas Reserves in Persian Gulf

Iran has launched a scheme to explore and use new undersea gas reserves in the Persian Gulf, considering an inevitable drop of pressure at the giant South Pars gas field, shared with Qatar.

Saudi Oil Output Cut by Half after Yemeni Drone Attacks

Attacks by 10 Yemeni drones against two plants at the heart of Saudi Arabia’s oil industry have knocked out more than half of the Kingdom’s output.

Hawkish Senator Calls for Bombing Iran’s Refineries after Aramco Attacks

Hawkish American Senator Lindsey Graham has says the US should mull bombing Iranian oil refineries if Tehran continues boosting its nuclear enrichment to higher grades.

New Phase of South Pars Gas Field to Become Operational: Oil Minister

Iran’s oil minister says the status of phase 11 of the South Pars Gas Field as well as Farzad B Gas field will be settled this year.

Iran Seizes Foreign Ship Carrying Smuggled Fuel

Iran has seized a vessel carrying contraband fuel in the Persian Gulf, arresting a number of its crew members.

New Oil Reserves Found in South-Western Iran

Iran has discovered new oil reserves in the southwestern Dezful region, the National Iranian Oil Company Exploration Directorate (NIOCEXP) says.

Iranian Tanker Adrian Darya Says Heading for Turkey

Iranian supertanker Adrian Darya 1 (formerly Grace 1) is heading for the Turkish port city of Mersin according to its AIS destination.

Zeroing Out Iran’s Oil Exports to Threaten Safety of Int’l Waterways: Rouhani

Iranian President Hassan Rouhani says international waterways will not be as safe as before if Iran’s oil exports are zeroed out.

Iranian Oil Tanker Runs into Technical Problem in Red Sea

An Iranian oil tanker operated by the National Iranian Tanker Company (NITC) has experienced technical difficulties in the Red Sea.

Fate of UK Tanker Not Linked to Gibraltar’s Release of Iranian Tanker: Tehran

Iran's Foreign MInistry Spokesman Seyyed Abbas Mousavi says the fate of the 'offending' British oil tanker Stena Impero, which is impounded in Iran, is not at all related to the recent move by Gibraltar to release the Iranian oil tanker Adrian Darya (formerly Grace-1).

Iran Warns US against Any Fresh Attempt to Seize Iranian Tanker

Iranian Foreign Ministry Spokesman Seyyed Abbas Mousavi says the country has officially warned the US government against making any fresh attempt to seize the Iranian oil tanker Adrian Darya (formerly Grace-1) which was recently released by Gibraltar after an unlawful 45-day seizure.

Latest news