Energy Economy

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 …

Head of the Atomic Energy Organization of Iran (AEOI) Mohammad Eslami once again ruled out rumors about installation of surveillance cameras at a power plant in Central Iran, and underscored that Tehran’s coordination with the International Atomic Energy Agency (IAEA) is in accordance with the Non-Proliferation Treaty (NPT) and the …

National Iranian Drilling Company (NIDC) dug and completed the digging operations of 27 oil and gas wells during the first 100 days of the current Iranian calendar year (March 21-June 30), the company’s managing director said. According to Hamidreza Golpayegani, the drilled wells consisted of two development, and 25 workover …

The latest data released by the Energy Information Administration of the United States (EIA) shows that Iran has exported $19 billion of crude oil in the first five months of 2023. The EIA said in its latest report said that the total oil export of 13 OPEC members in the …

According to the Islamic Republic of Iran Customs Administration (IRICA), the country’s non-oil trade in the first three months of the current Persian calendar year (March 21 to June 22) reached $26.5 billion. Some 35.5 million tons of goods, valued at $12.5 billion, with crude oil kerosene, fuel oil and …