Energy Economy

Iran’s economy grew by 0.9 percent in the first month of the current Iranian calendar year Farvardin (March 21 – April 21), according to a new report from the Iranian Parliament’s Research Center. As reported by Mehr News Agency, the center released its latest estimate of monthly GDP growth in …

The CEO of the South Pars Gas Complex highlighted its role in supplying 73% of the country’s gas and announced the early start of major refinery overhauls, targeting a daily production rise of 10 to 15 million cubic meters. Speaking on the sidelines of the 29th International Oil, Gas, Refining …

Iran and Russia are enhancing further their energy cooperation as Russian companies signed a deal to develop oilfields in Iran and the countries discuss the creation of a natural gas hub in the Islamic Republic. Iran’s Oil Minister Mohsen Paknejad is currently on a visit to Moscow, where the two …

Iran imported non-oil commodities valued at $1.3 billion from Russia in the past Iranian calendar year 1403, which ended on March 20, 2025, according to an official with the Islamic Republic of Iran Customs Administration (IRICA). Abolfazl Akbarpour, the deputy head of IRICA for planning and international affairs, said that …

Iran’s Oil Minister Mohsen Paknejad arrived in Iraq on Monday at the invitation of his Iraqi counterpart. Upon arrival, Paknejad paid tribute to the memorial site of the martyrs General Qassem Soleimani and Abu Mahdi al-Muhandis. The Oil Minister’s visit to Baghdad will last two days, and he is scheduled …

Iran will hopefully resume offshore oil and gas exploration activities in the Persian Gulf for the first time in five years, says a senior official at the National Iranian Oil Company (NIOC). Mohyeddin Jafari, head of Exploration Directorate at the NIOC, said Saturday that exploration operations at sea had been …

Oil minister emphasized prioritizing refining projects based on the available financial resources, and stated that attracting public investments for implementing small-scale refining projects is on the agenda. While visiting the Tehran Oil Refinery on Saturday, Mohsen Paknejad noted that it was an opportune time to visit one of the ten …

Iranian government spokeswoman Fatemeh Mohajerani stressed Tehran will never back down from its share in the global oil market. Mohajerani made the remark in a post on her X account on Saturday in reaction to the latest move by the US Treasury Department which imposed sanctions on Iran’s Oil Minister …

Iran started gas production from its first infill well at South Pars, the country’s largest gas field in the Persian Gulf, increasing supply to meet growing energy demand. Touraj Dehghani, CEO of the state-run Pars Oil & Gas Company, announced that the newly launched well, located in Phase 12 of …

The Islamic Republic of Iran Customs Administration (IRICA) has said that the country’s non-oil foreign trade in the first 11 months of the current Iranian calendar year (started March 21, 2024) hit $117 billion. Foroud Askari, who is also the deputy minister of economy, stated that the country’s non-oil foreign …