Energy Economy

A senior official in the southwestern province of Khuzestan believes that oil and gas exports will increase by building energy complexes in the province having great industrial capacities. Ali Karani, member of board of governors of industry equipment manufacturers of Khuzestan, made the remarks in an intevriew with IRNA on …

OPEC and its allies have revised oil demand scenarios for 2021 with demand seen weaker than previously anticipated, a confidential document seen by Reuters shows, supporting the case for a tighter supply policy next year. “For 2021, oil demand is expected to grow by 6.2 million barrels per day, year …

President Hassan Rouhani said on Saturday that Iran’s next year budget bill aims to fully stop the country’s direct reliance on oil revenues. The president made the remarks speaking during the 181st session of the government’s Economic Coordination Headquarters. Rouhani said that the main goals of the country’s next year …

Iran’s average oil exports have been 700,000 barrels per day since March, the country’s deputy head of Budget and Planning organisation said on Wednesday, in defiance of U.S. sanctions aimed at dropping Tehran’s main source of income to zero. “The average oil sales so far this (Iranian) year have been …

Iranian Minister of Energy Reza Ardakanian and Qatari Minister of State for energy affairs reviewed ways to advance the agenda of cooperation on electricity sector. The two ministers underlined to develop and continue with cooperation on The Regional Centre on Urban Water Management (RCUWM-Tehran) under the auspices of UNESCO. Both …

Islamic Republic of Iran and Qatar are determined to enhance and broaden mutual economic relations. For this purpose, the Iranian Energy Minister and Chairman of Iran-Qatar Joint Economic Cooperation Commission Reza Ardakanian arrived in the Qatari capital Doha on Monday to discuss the relevant issues. In this meeting, made for …

Iranian Energy Minister Reza Ardakanian said on Sunday that increasing economic cooperation between the two countries is one of the important requirements for achieving sustainable development and regional security. The Iranian energy minister made the remarks during a meeting with the Special Representative of the UN Secretary-General for Afghanistan Deborah …

The drilling operation on Phase 11 of South Pars Gas Field in southern Iran began on Saturday, an official reported. Mohsen Rezaei, the caretaker of the development project of Phase 11 of South Pars Field, said that the project aims to excavate about one billion cubic feet of gas from …

Iran has shipped the second non-oil cargo to Oman via Sirik Port in southern Hormozgan province, Governor of Sirik County said on Wednesday. According to Ahmad Jamaleddini, the 610-ton consignment contains fresh fruits and vegetables, dried nuts and construction material with a collective value of 150 billion rials (Over $530 …

Iran’s Deputy Minister of Industry, Mine and Trade Hamid Zadboum said the country is considering to increase export of non-oil products by 15% in the second half of the current Iranian calendar year (September 22, 2020 -March 20, 2021). “Although spread of the coronavirus disease has decreased global trade almost …