Spokesperson for the Iranian Foreign Ministry Esmaeil Baqaei said the country’s peaceful nuclear activities are under surveillance of the International Atomic Energy Agency (IAEA). Asked by reporters about the recent comments from IAEA Director General Rafael Grossi that Iran has enhanced its uranium enrichment capabilities, Baqaei said on Saturday that …
Read More »Iran’s Economic Growth Hits 4.5% in One Year: CBI
Iran’s economic growth in the previous Iranian calendar year (March 21, 2023 to March 19, 2024) with/without oil included increased 4.5 percent and 3.6 percent respectively. According to the preparatory calculations of the Economic Accounts Department of the Central Bank of Iran (CBI), the gross domestic product (GDP) to the …
Read More »Iran to Invest $275 bln for Developing Oil, Gas Fields by 2041
The manager of the National Iranian Oil Company (NIOC) for planning affairs said the country is going to invest about $275 billion by 2041 for the development of the oil and gas fields. Speaking at the First Conference of Managers of the National Iranian Oil Company, Ahmad Rajabi stated that …
Read More »Iran’s Oil Output Capacity Increases 40% in 2 Years
Iran’s oil minister said Iran’s oil production capacity has increased 40 percent with the rise in investment in semi-finished oil projects. Since the beginning of the administration of President Ebrahim Raisi (August 2021), increasing investment opportunities in the oil industry’s projects has been prioritized as one of the key factors …
Read More »Phase 11 of South Pars Gas Field Officially Inaugurated in Assaluyeh
Regarded as the most important gas project in the country, Phase 11 of the South Pars Gas Field was inaugurated in a ceremony in Assaluyeh, Iran’s southern province of Bushehr, on Monday with President Ebrahim Raisi and Oil Minister Javad Owji in attendance. Construction of Phase 11 of the South …
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’s Non-Oil Trade Hits $26.5 Billion in 3 Months: IRICA
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 …
Read More »Oil Min: SP Phase 11 to Go on Stream in Three Months
Announcing that $12 billion worth of semi-finished oil and gas projects have been completed in the last Iranian calendar year (ended March 20, 2023), Iran’s oil minister said that Phase 11 of the South Pars Gas Field will be put into operation within the next three months. Speaking in a …
Read More »Iranian Oil Exports Double despite Sanctions
Managing director of the National Iranian Oil Company (NIOC) said Iran’s export of oil has doubled in the administration of President Ebrahim Raisi in spite of tough sanctions imposed against the country. Mohsen Khojastehmehr made the comment during a visit to Kharg Island, adding that the oil exports have doubled …
Read More »Nuclear Chief Decries IAEA Resolution, Warns of Iran’s Tough Response
Head of the Atomic Energy Organization of Iran Mohammad Eslami denounced the International Atomic Energy Agency Board of Governors’ “unconstructive” move to pass a resolution against Iran, saying it will draw a strong response from Tehran. Speaking to reporters on the sidelines of a cultural ceremony in Isfahan on Sunday, …
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