Energy Economy

Iranian Oil Minister Javad Oji has said that phase 11 of the South Pars gas field development plant is going to go operational within the next two months, IRNA reported. “Considering the measures taken, production will start from phase 11 of South Pars in the next two months,” Oji told …

Iran’s Oil Minister announced that Iran has reached new oil and gas agreements with Chinese companies. Javad Owji made the remarks on the sidelines of the opening ceremony of the 16-inch Torbat-e- Jam transmission line project in the Khorasan Razavi province in the northeast adding that “We have defined various …

Iran’s gross domestic product (GDP) including oil grew 3.3 percent in the first nine months of the current Iranian calendar year (March 21 – December 21, 2022) compared to the same period last year, according to the Statistical Center of Iran (SCI). Based on the SCI data, the figure excluding …

The value of Iran’s non-oil exports rose 12.22 percent during the first 11 months of the current Iranian calendar year (March 21, 2022-February 19, 2023), as compared to the same period of time in the past year. According to Mohammad Rezvani-Far, the head of the Islamic Republic of Iran Customs …

Iran has ranked ninth steel-producing country in the world, the World Steel Association reported. In January 2023, Iran stands as the ninth-biggest producer of steel in the world, the WSA said. Iran has produced 2 million and 700 thousand tons of steel in the first month of 2023. The figure …

Spokesman of the Atomic Energy Organization of Iran Behrouz Kamalvandi has underlined that the Islamic Republic has not enriched uranium above 60 percent purity so far. Kamalvandi told IRNA in an exclusive interview on Sunday night that the member states of the International Atomic Energy Agency (IAEA) are tasked with …

South Azadegan oilfield is located 80 kilometers west of Ahvaz (the capital city of Iran’s southwestern Khuzestan province), near the Iraqi border. The oil reserves in this field are estimated to be around 25.34 billion barrels, and the recoverable oil is estimated to be around 1.7 billion barrels, taking into …

National Iranian South Oil Company (NISOC) has signed a cooperation memorandum of understanding (MOU) with Basra Oil Company (BOC), Shana reported. The MOU was signed on the sidelines of the 13th Specialized Exhibition of Khuzestan Manufacturing Oil Industry Equipment in Iran’s southwestern Khuzestan Province. According to NISOC Head Alireza Daneshi, …

In its latest monthly report, the agency declared that the total oil production of the Organization of the Petroleum Exporting Countries in the last month of the past year stood at 29.19 million barrels per day, and the total oil production of 13 OPEC member states decreased 40k bpd in …

Iran’s oil production in 2022 increased seven percent compared to the previous year, according to OPEC’s first monthly report released in 2023. According to the OPEC report, the Islamic Republic produced 2.554 million barrels per day (bpd) of crude oil in 2022, 162,000 bpd more than the figure for 2021, …