Tag Archives: IRNA News Agency

Fuel prices in Iran are among the cheapest in the world even after the government cancelled offering oil products at subsidized prices in May 2015.

Over past years. Petroleum Ministry paid its main attention to develop oilfields in the Persian Gulf.

Iran is the largest electricity producer in the Middle East with an installed power generating capacity of around 76.000 MW.

More than 10% of electricity go to waste in the national grid because of dilapidated equipment.

Iran needs 200 billion dollar investment to develop oil industry which should be supplied through foreign sources.

Under the terms of the deal. Iran’s Petropars is committed to finance the study phase of the project while Toyo of Japan will undertake financing of its executive phase.

Iran'.s installed electricity capacity is currently about 76.000 MW.

Upon the completion of the project. the refinery will raise its propylene production by 1 million tons per year.

Total will operate the SP11 project with a 50.1 percent interest. while Iranian Petropars Company and the Chinese CNPC will have a share of 19.9 and 30 percent. respectively.

Electricity exports have decreased from 1.300 MW to 900 MW during peak hours to cope with growing domestic demand in the scorching days of summer