Tag Archives: Iran

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 …

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% …

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 …

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 …

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 …

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 …

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 …

Iran’s natural gas exports to Iraq exceeded 9 billion cubic meters in 2022, according to the International Energy Institute. In a report released today, the official Iranian news agency IRNA stated that the country’s natural gas exports reached approximately 19 billion cubic meters last year, representing a growth rate of …

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 …