Energy Economy

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 …

German Foreign Minister Heiko Maas urged Turkey to refrain from “provocation” in the Eastern Mediterranean, while signalling support for Cyprus and Greece in gas drilling dispute. “Ankara must end the interplay between detente and provocation if the government is interested in talks – as it has repeatedly affirmed,” Maas said …

Iran witnessed a surge of almost 25 percent in exports during the 6th month of the current year (August 22-September 21) compared with the previous month, Iran’s Customs Administration (IRICA) spokesman Rouhollah Latifi said on Saturday. Latifi said that the exports had reached $2.691 billion in value terms from August …

Iran exported the fifth non-oil cargo to Oman via Sirik Port in southern Hormozgan Province, the governor of Sirik County announced. Ahmad Jamaleddini put the weight of the mentioned cargo at 550 tons valued at 64 billion rials (about $1.523 million), including fruits and vegetables, mineral water, paving stones, nuts, …

Iranian researchers at Amirkabir University of Technology designed and produced a semi-industrial prototype multiphase oil well flowmeter, a technology exclusively owned by US firms. “Production and operation of oil and gas fields requires the use of flow measuring equipment at the outlet of wells and in the fluid transmission line, …

Deputy Minister of Industry, Mine and Trade put the country’s non-oil exports value in the first six months of the current Iranian calendar year (from March 21 to Sept. 22) at $13.5 billion. At the condition that spread of coronavirus, COVID-19, has decreased international trade as much as 14 percent, …

Iran plans to put into operation a great natural gas liquid (NGL) plant by March, Head of the Khatam-al Anbiya Construction Headquarters Saeed Mohammad said, adding that the plant will collect flare gases from Southwestern oilfields. Mohammad said that the first phase of NGL 3200 project would use 250 million …

Iranian Energy Minister announced on Sunday that the country plans to increase its nuclear power capacity from its current 1,000 megawatts to 3,000 MW in future. In this regard, the construction of two new 1,000-megawatt-nuclear power plants is underway in Bushehr, Reza Ardakanian said. The minister lamented that lack of …

More than 11 million tons of non-oil goods worth over $2.47 billion were exported from Bushehr Province in southern Iran during the past six months of the current Iranian year (starting from March 20), Bushehr Province Department of Industry, Mine and Trade said on Sunday. Hossein Hosseini said that China, …