Energy Economy

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 …

The Iranian foreign minister says if the United States wants a lasting nuclear agreement with Iran, it has to stop insisting on its unilateral demands. Hossein Amirabdollahian wrote on his twitter account on Tuesday that he spoke with the EU Foreign Policy Chief Josep Borrell on the phone discussing the …

Iran’s oil minister says the project for development of Azadegan joint oil field in the Persian Gulf, will become operational with a 7-billion-dollar funding by a consortium of mostly private sector investors. “For the first time in the history of Iran’s oil industry, the integrated project for the development of …

Simultaneously with the presence of Iranian Foreign Minister Hossein Amir-Abdollahian in Syria, media sources reported the arrival of a new oil tanker of the Islamic Republic of Iran to the port of “Banias” in northern Syria. The fuel oil that reached Banias port is the result of the activation of …

Iraq is a top importer of Iranian non-oil products, the chairperson of the Iranian-Russian chamber of commerce, Hadi Tizhoush Taban, said on Saturday. Iran’s official news agency, IRNA, quoted Taban as saying, “non-oil Iranian exports yielded 27.7 million tons, valued at 13.069 billion dollars in the first quarter of 2022; …

A report released by the Organization of Petroleum Exporting Countries (OPEC) shows Iran has earned more than $25 billion in revenue from oil exports in 2021. OPEC reported $560 billion in revenue from oil sales in 2021 in its annual report, which shows a 77 percent increase in comparison with …

Iran’s Oil Ministry on Saturday announced that the country’s production of crude gas, for the first time ever, surpassed 1,000 million cubic meters a day during last Iranian year (ended March 20, 2022). The ministry said that the achievement was made due to a jump in gas production at the …