Energy Economy

Iran and Oman have agreed to revive a deal for natural gas exports to the latter and jointly develop Hengam natural gas field in the Strait of Hormuz in the Persia Gulf. The agreement was made during the recent visit by Iranian Oil Minister Javad Owji to Muscat. The deal …

Iranian Oil Minister Javad Oji has expressed the country’s readiness for swapping Turkmenistan’s natural gas to Armenia, Shana reported. Oji made the remarks in a meeting with Armenian Minister of Territorial Administration and Infrastructure Gnel Sanosyan in Tehran on Monday. Speaking in this meeting, the Iranian minister also expressed the …

Iran is considering the possibility of exporting gas to Europe, an oil ministry official said Sunday against the backdrop of soaring energy prices due to Russia’s war in Ukraine. “Iran is studying this subject but we have not reached a conclusion yet,” deputy oil minister Majid Chegeni was quoted as …

An expert on energy has said that Iran can participate in Venezuela’s oil exploration and extraction projects to the best of its ability and this is in the interest of both countries and it is a win-win game. Ali Asghar Zargar said in remarks to ILNA that “Both Iran and …

Managing director of the National Iranian Oil Company (NIOC) and top managers of Russia’s Gazprom Company emphasized here on Friday to expand cooperation in energy field. The agreement was signed in a meeting between NIOC Managing Director Mohsen Khojastehmehr and top managers of Russia’s Gazprom on the sidelines of the …

Venezuela has begun importing Iranian heavy crude to feed its domestic refineries, Venezuelan oil company PDVSA announced. Iran and Venezuela last year initially agreed to a swap deal, with PDVSA importing Iranian condensate to dilute and process its extra-heavy oil for export, Reuters reported. In return, Venezuelan crude is being …

The value of non-oil trade between Iran and Tajikistan stood at $131.038 million in the past Iranian calendar year 1400 (ended on March 20), the spokesman of Islamic Republic of Iran Customs Administration (IRICA) announced. Ruhollah Latifi put the weight of commodities traded between the two countries at 139,249 tons. …

An official with the National Iranian Oil Company (NIOC) revealed that Phase 11 of the South Pars Gas Field is expected to generate 14 million cubic meters of gas per day by the end of current Persian calendar year (March 20, 2023). According to IRNA, Karim Zobeidi, NIOC’s director of …

Finalization of the fixation project by the Sahar 2 offshore rig in Resalat Field is another step to increase the production capacity of the Iranian Offshore Oil Company in the Lavan operational area. The Sahar 2 offshore rig left Resalat Field to Kharg operational area, following its successful performance in …

Iran said it needs tens of billions of dollars of investment in its natural gas sector, underscoring how it would struggle to ramp up production even if the U.S. lifts sanctions. Iran holds the world’s biggest proven gas reserves after Russia. But it may be forced to import the fuel …