Energy Economy

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 …

The Islamic Republic of Iran has exported 337 million barrels of oil to China since the start of 2021 and the price of each barrel increased from 56 dollars to 97 dollars during this period, so the average oil price shows Tehran has not sold oil in cheap price. An …

An expert on energy said that all the three countries of Kuwait, Saudi Arabia and Iran can exploit the Arash joint gas field but due to the possible problems, they must trilaterally determine the borders. As regards Saudi Arabia and Kuwait’s joint program on the Arash joint gas field, Ali …

Iranian Customs Administration spokesman said that Iran’s non-oil trade reached its highest monthly level in years, rising to $11 billion and 538 million in value in the last month of the Iranian calendar year. Iranian Customs Administration spokesman Seyed Ruhollah Latifi said that 14 million and 539 thousand tons of …

Iraq’s electricity minister says the country has not reached an agreement with Arab countries of the Persian Gulf region and will need to import natural gas from Iran for the coming years. “We do not accept their [Persian gulf countries’] prices. Iranian natural gas is appropriate for Iraq and its …

Iran’s oil exports have seen a 40-percent rise and the capacity of oil production has reached pre-sanctions level despite sanctions and economic pressure, the CEO of National Iranian Oil Company (NIOC) said on Sunday. Mohsen Khojasteh-mehr said that Iran is in the first place of the world in aggregate oil …