Energy Economy

Iran’s Oil Minister considering the price range of $ 80 to $ 90 to be the ideal price for oil, stressed that members of both OPEC and OPEC Plus have a consensus on this figure, which is a good price for both exporting and consuming countries. “Regarding the recent agreement …

Iranian Oil Minister Javad Owji said negotiations have been made with Russia on a project, promising that good news will come out about cooperation between Tehran and Moscow in the energy sector. Speaking to reporters on Saturday, Owji said the Iranian Oil Ministry has been elected as the chair of …

Iran’s Oil Minister Javad Owji says natural gas swap from Turkmenistan can increase by up to 10 times in volume terms if Ashgabat agrees to further transfer deals with Tehran. Owji said after a Saturday meeting with Turkmenistan’s visiting Vice President Rashid Meredov that Iran has the infrastructure required for …

Given the fact that the global oil markets will experience increase in demand for additional four million barrels per day in 2022 as a result of containing the COVID-19 pandemic, Iran’s crude export can help balance the supply and demand chain, an Iranian official said. Iran’s former OPEC Governor Mohammad-Ali …

Explaining the 24th OPEC Plus Ministerial Meeting, the Iranian oil minister stated that the member countries are ready to take responsibility for the fast and reliable supply of oil whenever the market and consumers need it. After the end of the 24th OPEC and non-OPEC Ministerial Meeting on Tuesday, Javad …

Iran’s Deputy Oil Minister Ahmad Asadzadeh has said his ministry is completely ready for cooperation with the countries in the region, especially the Persian Gulf Arab nations, IRIB reported on Sunday. “At the Oil Ministry, we are fully prepared to cooperate with the countries in the region and the Arab …

Iran’s intelligence minister Esmail Khatib says despite pressure by the United States and its allies Tehran currently has fewer problems in selling oil. Iran’s oil exports have increased in the past one year compared with 2019-2020, according to business intelligence groups, but is still well below 2 million bpd exported …

Iran’s oil minister said Monday that output at many oil wells has fallen from 50,000 barrels p/d to 1,000 and local expertise should help restore production. Speaking at an event dedicated to research at the oil ministry, Owji urged Iranian young scientists to help the oil industry and raise production …

The value of Iran’s non-oil trade with its neighbors stood at $33 billion during the first eight months of the current Iranian calendar year (March 21-November 21), the spokesman of the Islamic Republic of Iran Customs Administration (IRICA) announced. Ruhollah Latifi put the weight of non-oil trade with the neighboring …

Iranian state-owned NIOC will switch the benchmark basis of its official prices for European crude sales, a potential signal of Tehran’s intentions to return in full force to global markets. In its latest official price formula issuance for January, NIOC notes it will shift its benchmark from Ice Bwave to …