Energy Economy

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 …

Iraqi oil minister Ihsan Ismaael has denied a Reuters report that said Iraq wants to seek an exemption from OPEC+ output cuts in 2021, calling the report “baseless” and reaffirming the country’s support for the curbs agreed in April. “Iraq welcomed the production adjustment decision reached in April 2020 by …

Saudi Arabia’s energy minister said on Monday the world should be looking at all options to mitigate emissions of greenhouse gases in its fight against climate change, but that getting rid of oil and gas would be “far-fetched and unrealistic”. “Let’s not focus on the fuel of choice but rather …

Governor of Central Bank of Iran (CBI) wrote in his Instagram account that in order to increase the volume of the country’s foreign trade and make better use of domestic production facilities, in addition to current methods, the use of bartering oil in return for basic goods will increase. Despite …

Head of Iran-Syria Joint Chamber of Commerce Keyvan Kashefi said on Sunday that the establishment of the Central Iranian Trade Building in Damascus is a step towards realizing $1 billion worth of non-oil goods export to Syria. Referring to providing full equipment, meeting halls for economic conferences at the center, …

When OPEC and its allies met last month, Saudi Arabia’s energy minister dared oil speculators to test his determination to stabilize global markets. Now that a resurgent pandemic is threatening demand once again, the moment of reckoning is getting closer. The coalition of crude producers gathers on Monday to assess …

Islamic Republic of Iran and Qatar stressed the need to develop and expand bilateral ties on a series of mutual interests. Iranian Minister of Energy Reza Ardakanian and Qatari Minister of Commerce and Industry Ali bin Ahmed Al Kuwari held talks on Tue. through videoconference. In this online meeting, the …