Energy Economy

The National Iranian Oil Company (NIOC) signed eight deals worth €1.2 billion with domestic companies on Monday for developing the country’s oil fields, Shana reported. The deals were signed in a ceremony attended by senior oil industry officials including the Oil Minister Bijan Namdar Zanganeh. The mentioned contracts were inked …

Iran’s production of steel ingot gas reached 21,650,100 tons in the first nine months of the Iranian year (started on March 20, 2020), which shows an 8.3-percent rise compared to the same period last year. According to the tables published by the Ministry of Industry, Mining, and Trade, production of …

The first phase of Azar join oilfield will become productive soon, Head of Oil Industries Engineering and Construction (OIEC) Group Gholamreza Manouchehri announced. “Given the 97 percent progress of the joint field’s development plan, the first phase of this project is being operated and will be officially inaugurated soon,” Manouchehri …

Iraq is still waiting for Iran to resume supplying the country with sufficient amounts of gas for power generation, after the US granted Baghdad a 90-day waiver to continue to import electricity from Tehran on Dec. 30. “The reason for power shortages in provinces is the continuing slashing of Iranian …

Kuwait supports OPEC+ decisions that help maintain stability in crude markets, particularly in light of the negative repercussions from the pandemic, the country’s oil minister said Jan. 4, as ministers from the coalition were set to meet virtually to discuss February oil production levels. Mohammed al-Fares cautioned about the impact …

Iran’s parliament has lowered the government’s oil export target from 2.3 million to 1.5 million to manage expectations, news agency ISNA reported Jan 2. The proposed budget had aimed to sell over 2 million b/d of crude both in domestic and international markets. However, the figure was questioned due to …

Governor of Dasht-e Azadegan said that process of exporting non-oil goods via Chazabeh border in Khuzestan province continues without any interruption and restriction, Trend reports citing Mehr. Speaking in an interview with IRNA, Hamid Seylavi reiterated that export of non-oil products from Chazabeh Border, 110 km away from northwest Ahvaz, …

The heads of the Iranian and Armenian delegations have held constructive talks on gas exports and extension of a gas-for-electricity barter contract. Following a meeting with Hakob Vardanyan – Deputy Minister of Energy Infrastructures and Natural Resources of the Republic of Armenia, Amir Hossein Zamaninia, Iranian Deputy Petroleum Minister for …

Six US chemical and oil products will not be targeted by additional duties for another year, according to China’s finance ministry. The exemptions were initially introduced after the two countries reached a phase-one trade deal. The extension will come into force on Saturday and last until December 25, 2021, the …

Iranian Oil Minister Bijan Namdar Zanganeh met Azerbaijan’s Energy Minister Parviz Shahbazov in Tehran on Tuesday night to discuss the recent developments in the region and the global oil market, Shana reported. Speaking in the meeting, Zanganeh underlined Azerbaijan’s positive role as one of the members of the alliance between …