Given the fact that the global oil markets will experience increase in demand for additional four million barrels per day in 2022 as a result of containing the COVID-19 pandemic, Iran’s crude export can help balance the supply and demand chain, an Iranian official said. Iran’s former OPEC Governor Mohammad-Ali …
Read More »Iran to Produce 141mn Tons of Petrochemicals by 2027
Deputy Oil Minister said that Iran will produce 141 million tons of petrochemicals before the termination of 7th Five-Year Socioeconomic and Cultural Development Plan in 2027, Trend reports citing Mehr. Morteza Shah-Mirzaei Deputy Oil Minister and Chief Executive of National Petrochemical Company (NPC) said on Monday in the first meeting …
Read More »Iran Welcomes Energy Cooperation with Persian Gulf Arab Nations
Iran’s Deputy Oil Minister Ahmad Asadzadeh has said his ministry is completely ready for cooperation with the countries in the region, especially the Persian Gulf Arab nations, IRIB reported on Sunday. “At the Oil Ministry, we are fully prepared to cooperate with the countries in the region and the Arab …
Read More »Iran Insists on Crude Exports as Vienna Nuclear Talks Resume
Iran insisted on Monday that the United States and its allies promise to allow Tehran to export its crude as negotiations on restoring the tattered nuclear deal were to resume in Vienna. The remarks by Iranian Foreign Minister Hossein Amirabdollahian signal that Iran is pressing its position ahead of the …
Read More »Iran’s Exports Value to Iraq Exceed $6.1bn in 8 Months
A member of the Board of Directors of Iran-Iraq Joint Chamber of Commerce put the value of products exported from the country to Iraq in the first eight months of the current year (Mar. 21 – Nov. 22) at above $6.1 billion. Seyyed Hamid Hosseini broke the news in an …
Read More »Intelligence Minister Says Iran’s Oil Exports have Increased
Iran’s intelligence minister Esmail Khatib says despite pressure by the United States and its allies Tehran currently has fewer problems in selling oil. Iran’s oil exports have increased in the past one year compared with 2019-2020, according to business intelligence groups, but is still well below 2 million bpd exported …
Read More »Only 30 Percent of Oil Reserves are Currently Accessible
Iran’s oil minister said Monday that output at many oil wells has fallen from 50,000 barrels p/d to 1,000 and local expertise should help restore production. Speaking at an event dedicated to research at the oil ministry, Owji urged Iranian young scientists to help the oil industry and raise production …
Read More »Non-Oil Trade with Neighbors Stands at $33b in 8 Months
The value of Iran’s non-oil trade with its neighbors stood at $33 billion during the first eight months of the current Iranian calendar year (March 21-November 21), the spokesman of the Islamic Republic of Iran Customs Administration (IRICA) announced. Ruhollah Latifi put the weight of non-oil trade with the neighboring …
Read More »Iran’s Conditions for Replacing Nuclear Facility Cameras
An Iranian expert on international issues said that Iran voluntarily accepted replacing the International Atomic Energy Agency’s cameras in the nuclear facility in Karaj on conditions that legal and security investigation is complete, the IAEA fulfils its duties towards member states, and it condemns sabotage act in the facility. In …
Read More »Iran’s NIOC Shifts Crude Selling Benchmark for Europe
Iranian state-owned NIOC will switch the benchmark basis of its official prices for European crude sales, a potential signal of Tehran’s intentions to return in full force to global markets. In its latest official price formula issuance for January, NIOC notes it will shift its benchmark from Ice Bwave to …
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