Energy Economy

The value of non-oil trade exchanges between Iran and China has reached $5.23 billion in January-April, 2023, according to figures by the Chinese customs office. Trade between Iran and China had increased by 4% in value terms in January-April compared to the same period last year, the figures showed. The …

Announcing that $12 billion worth of semi-finished oil and gas projects have been completed in the last Iranian calendar year (ended March 20, 2023), Iran’s oil minister said that Phase 11 of the South Pars Gas Field will be put into operation within the next three months. Speaking in a …

Tehran and Moscow have made progress regarding the participation of Russian companies in new oil and gas projects in Iran, Russian Deputy Prime Minister Alexander Novak said during talks with Iranian Oil Minister Javad Owji. “We are implementing projects to develop oil fields in Iran and have outlined new projects, …

Iranian Oil Minister Javad Owji said on Saturday that Tehran and Baghdad have agreed to extend the gas export contract for five years. The oil minister, who is on a visit to Baghdad, made the remarks following a meeting with Iraq’s Minister of Electricity Ziad Ali Fazel, saying that the …

Technical planning for the development of the Iranian Arvandkenar oilfield near Iran-Iraq border has begun, IRNA reports citing Arvandan Oil and Gas Company CEO Abdollah Azaari Ahvazi. Ahvazi told IRNA on Sunday that the company will develop the Arvandkenar oilfield, located at the southern tip of the region West Karoun. …

Managing director of the National Iranian Oil Company (NIOC) said Iran’s export of oil has doubled in the administration of President Ebrahim Raisi in spite of tough sanctions imposed against the country. Mohsen Khojastehmehr made the comment during a visit to Kharg Island, adding that the oil exports have doubled …

According to the statistics office of the European Union (Eurostat), Iran exported 1,567 billion cubic meters of natural gas to Turkey in the first quarter of 2023. The figure has dropped by 17% compared to the same period in 2022. Iran exported 1,891 billion cubic meters of gas to Turkey …

The value of Iran’s non-oil export to the United Arab Emirates (UAE) rose 28 percent in the past Iranian calendar year 1401 (ended on March 20), the spokesman of Trade Development Committee of the Iranian House of Industry, Mining, and Trade announced. Ruhollah Latifi said that importing non-oil goods worth …

A drilling rig was erected off Lavan Island, the Persian Gulf, another step toward boosting oil output, said an Iranian Offshore Oil Company (IOOC) official Monday. Pouya Ma’arefi, the director of the Resalat oil field development project, said the drilling rig was installed adjacent to the DP-R1 platform. The first …

Officials at the Afghanistan’s Chamber of Commerce and Investment announced that trade and economic relations between the country and the Islamic Republic of Iran have increased. According to the officials of the Afghanistan Chamber of Commerce and Investment, as cited by the local Afghan AVA news agency, the annual trade …