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 …
Read More »OPEC: Iran’s Oil Revenues up 67% to $42.6 bn in 2022
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 …
Read More »Iraq Gets New 120-Day Waiver to Pay Iran’s Energy Debts
The United States has issued Iraq a new 120-day waiver allowing the country to pay Iran for electricity via non-Iraqi banks, Reuters reported on Tuesday, quoting a U.S. official as saying. Based on the waiver, signed by the U.S. Secretary of State Antony Blinken on Tuesday, Iraq will be able …
Read More »Iraq’s Oil Production could Face Challenges as Barter Deal with Iran Raises Concerns
Iraq’s oil production may be impacted by a recent agreement to pay for Iranian gas imports through a barter deal involving fuel oil and crude oil from Baghdad, according to a state oil marketing company SOMO source. Iraqi Prime Minister Muhammad al-Sudani announced the deal to solve difficulties in paying …
Read More »Iraq to Trade Crude Oil for Iranian Gas to Resolve Power Debt
Iraq will begin trading crude oil for Iranian gas to end the recurring issue of payment delays to Tehran due to the need for US approval, Iraqi Prime Minister Mohammed Shia Sudani said on Tuesday (July 11). He said Iran had cut gas exports to Iraq by more than 50% …
Read More »Iran to Meet 25% of Gas Demand from Storage by 2026
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 …
Read More »Iran Awards Contract for Gas Field Shared with Qatar
Iran’s state-run Petropars company has awarded a contract for the construction of a large platform that will be installed at the Belal gas field in the Persian Gulf near the maritime border with Qatar. In a ceremony on Sunday, the Iranian Offshore Engineering and Construction Company (IOEC) won the contract …
Read More »Iran’s Daily Oil Output in Persian Gulf to Rise by 10,000 bpd
Around 10,000 barrels per day (bpd) is to be added to Iran’s crude oil output, the managing director of the country’s Offshore Oil Company has said. Alireza Mehdizadeh made the remarks on Saturday while visiting the construction process of the A20 and A21 platforms in Khorramshahr, southwest Iran. With the …
Read More »NIOC Eyes $250 bn Foreign, Domestic Investments in 8 Years
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 …
Read More »China Says to Continue Efforts to Bring Iran’s Nuclear Deal Back on Track
China’s Foreign Ministry has announced that Beijing will continue its attempts to restore the US-abandoned 2015 nuclear agreement “at an early date”. Speaking at a regular press conference on Friday, Foreign Ministry spokesman Wang Wenbin said the unilateral withdrawal of the United States from the nuclear deal, formally known as …
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