Energy Economy

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 …

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 …