Energy Economy

The spokesman of the Energy Commission of Iranian Parliament Malek Shahriati announced the discovery of a new gas field north of the South Pars gas field in southern Iran, Trend reports citing YJC. The gas field is estimated to hold 1 trillion cubic meter of natural gas in its reserve. …

Syrian Minister of Oil and Mineral Resources described cooperation between the oil ministries of Iran and Syria as good, emphasizing that the two countries have high capacity to increase bilateral cooperation in oil sector. Bassam Tomeh made the remarks on Sunday on the sidelines of the 3rd International Exhibition of …

The CEO of Iran’s Petroleum Engineering and Development Company (PEDEC) said that the memorandum of understanding on investment signed between Iran and Russia was an example of a win-win deal. The implementation of the MoU could pave the way for positive developments in Iran’s oil and gas industry, Abouzar Sharifi …

Afghanistan’s finance ministry announced Saturday that a contract was signed for the purchase of 350,000 tons of oil from neighboring Iran. The agreement was signed with an Iranian firm during an Afghan delegation’s visit to the neighboring country. The delegation included representatives of Afghanistan Oil and Gas Corporation, ministries of …

The Hungarian foreign minister says Iran’s more forceful return to the global energy markets will serve the interests of all countries. Péter Szijjártó, in a phone conversation with his Iranian counterpart Hossein Amirabdollahian, stressed that the issue of energy is vital for Europe and the world, thanking Iran for caring …

Tehran and Ankara agreed to start negotiations on a new gas exports agreement which would allow an increased supply of natural gas from Iran to Turkey for a period of 25 years starting in 2026. Talks on a new Iran-Turkey gas supply deal had started based on agreements reached between …

The National Iranian Oil Company (NIOC) and Russia’s Gazprom signed a memorandum of understanding worth roughly 40 billion dollars. The document was signed during an online ceremony on Tuesday by NIOC CEO Mohsen Khojastehmehr and Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee. The development of Kish and North …

The value of Iran’s non-oil export to Oman jumps 168 percent in the first quarter of the current Iranian calendar year (March 21-June 21), from that of the same quarter in the previous year, the spokesman of Islamic Republic of Iran Customs Administration (IRICA) announced. Ruhollah Latifi said that Iran …

The value of Iran’s non-oil export to Iraq fell 22 percent in the first quarter of the current Iranian calendar year (March 21-June 21), from that of the same quarter in the previous year, the spokesman of Islamic Republic of Iran Customs Administration (IRICA) announced. Ruhollah Latifi said that Iran …

Iraq’s Electricity Minister Adel Karim has said that Baghdad has paid for all unpaid bills to Iran, and from now on, it will pay for imported gas monthly. The Iraqi electricity minister said, “Recently, $1.649 billion were paid to Tehran for gas debts, and Baghdad does not have any unpaid …