Energy Economy

Iran and Armenia have signed an agreement to extend the term of the existing contract under which Tehran exports natural gas to Yerevan in exchange for electricity until 2030. The revised agreement requires Iran to expand the volume of its gas supply to Armenia in exchange for electricity from the …

Head of the Atomic Energy Organization of Iran (AEOI) Mohammad Eslami has declared Tehran is successfully producing heavy water derivatives, a groundbreaking achievement in nuclear technology and medical research. Eslami told IRIB News on Tuesday that the AEO has been pursuing a “combination of laser and biotechnology” to work on …

Total electricity produced at Iran’s only nuclear power plant after some 12 years of activity has reached 60 billion kilowatt hours (kw/h), according to the country’s nuclear chief. Head of the Atomic Energy Organization of Iran (AEOI) Mohammad Eslami said on Sunday that the electricity produced at the Bushehr Nuclear …

The value of Iran’s non-oil trade reached $35.445 billion in the first four months of the current Iranian calendar year (March 21-July 22), according to the data released by the Islamic Republic of Iran Customs Administration (IRICA). Based on the mentioned data, Iran exported 45.758 million tons of non-oil commodities …

A senior Iranian businessman says a recent deal between Iran and Iraq to swap Iranian gas and electricity for Iraqi crude oil and mazut will benefit Iran and will remove hurdles created by the US in energy trade between them. “With this agreement with Iraq for the barter of oil …

The secretary of Iran Coal Association has said the country holds 1.5 billion tons of definite coal reserves which is enough to meet the country’s needs for the next 500 years, IRIB reported on Saturday. According to Saeed Samadi, Iran’s total coal reserves are estimated at 14 billion tons of …

OPEC data cited in a Sunday report by the IRIB News showed that Iran had produced a total of 262.261 billion cubic meters (bcm) (9.26 trillion cubic feet) of natural gas last year, up from 257.119 bcm reported in 2021. Iran was the third largest gas producer in the world …

Figures by the Organization of Petroleum Exporting Countries (OPEC) show that Iranian oil export revenues rose by 67% last year despite continued pressure of American sanctions on the country. OPEC data cited in reports by Iranian news agencies on Saturday showed that Iran had earned some $42.6 billion from oil …

Iran plans to significantly increase the country’s natural gas storage capacity so that it can rely on underground storage for 25% of the total domestic demand by 2026. Iran’s Oil Ministry has planned to increase gas storage capacity in the country to a level in 2026 which can respond to …

The National Iranian Oil Company (NIOC) is targeting an investment of $250 billion in its upstream, midstream and downstream oil sectors, especially in liquefied natural gas (LNG) industry, over the next eight years. Oil Minister Javad Owji made the statement on the sidelines of the Eighth OPEC International Seminar that …