Energy Economy

Iran’s crude steel production reached 18.625 million tons in the first eight months of 2020 to register an 11.3-percent increase year on year, Mehr news agency reported. The country’s steel output stood at 16.739 million in the previous year’s same eight months. The increase in the Iranian steel production comes …

Islamic Republic of Iran and Republic of Belarus explored avenues for broadening and developing bilateral cooperation in the field of energy. Iranian Ambassador to Belarus Saeed Yari met and held talks with Viktor Karankevich Energy Minister of Republic of Belarus in Minsk on Wed. In this bilateral meeting, the two …

Tehran and Sofia are to forge closer cooperation in the domains of economy, the transit of goods and transportation. In a meeting between Iranian Minister of Roads and Transportation Mohammad Eslami and Bulgaria’s new Ambassador to Tehran, the two sides underlined the need to implement agreements reached by the two …

Oil exports from Iran hit a year and a half high in August despite heavy sanctions from the US, according to a recent estimate from TankerTracker. Iran is estimated to have exported nearly 1.5 million barrels per day (bpd) of crude oil and condensate so far in September, in what …

OPEC faces a critical moment in its 60-year history with the coronavirus crushing crude demand and prices, discord among its members, and threats from a world seeking cleaner fuels. Founded on September 14, 1960, by Iraq, Iran, Kuwait, Saudi Arabia and Venezuela who sought to control crude oil output, OPEC …

Iranian Minister of Energy Reza Ardakanian held talks with Minister of Energy and Water Resources of the Republic of Tajikistan Usmonali Uzmonzoda via videoconference on the expansion of economic and energy cooperation. During the videoconference, the energy ministers of Iran and Tajikistan stressed the development of economic and energy relations. …

A new International Energy Agency (IEA) report, launched at an event opened by Norwegian Prime Minister Erna Solberg, shows carbon capture, utilisation and storage (CCUS) can play vital roles of both reducing emissions and removing carbon from the atmosphere. After years of slow progress, technologies to capture carbon emissions and …

The United States is building a coalition aimed at preventing the completion of the Nord Stream 2 pipeline that will substantially increase the flow of Russian gas into Europe, the U.S. Secretary of State told German daily Bild in an interview, Oilprice analysed.. “From the US point of view, Nord …

Global inventories of crude oil declined by 45 million barrels in August after a 34-million-barrel reduction in July, Russia’s Energy Minister Alexander Novak said in a TV interview, Oilprice reported. “Reserves accumulated in the 2nd quarter are gradually shrinking, and we see that July and August were the first two …

The National Iranian Oil Company was ranked by far the best company in the world in terms of oil and gas exploration operations in 2019, a senior NIOC official announced. “The NIOC’s petroleum discoveries in 2019, including oil and gas, had amounted to the equivalent of nearly 5 billion barrels …