Energy

iran energy news, Read the latest news about Iran’s oil and gas sector, renewable energy, electricity, water, and drilling industries.

Oil Prices Tick Up
Oil Prices Tick Up
July 21, 2023 17:55
  • Dry Spell Is Here to Stay
    Iran entered a period of dry spells 20 years ago and the long-term drought is expected to last at least for 10 more years, the head of Geological Survey and Mineral Exploration said. “Under such...
  • GTPP Plant to Help Complete Value Chain in Petrochem Sector
    The Eslamabad-e-Gharb Petrochemical Plant, under construction in Kermanshah Province, will convert gas to methanol first and then methanol to propylene and finally propylene to polypropylene, which...
  • SP Phase 11 Output to Reach 14mcm/d
    An estimated 14 million cubic meters of natural gas per day will be extracted from Phase 11 of the South Pars Gas Field in the Persian Gulf by the end of the current Iranian year (March 2022-23),...
  • OPEC+ to Boost Output Again
    Oil producer group OPEC+ on Thursday agreed to rubber-stamp another small production increase for June, amid persistent concerns over weaker Chinese demand and shortly after the world’s largest...
  • Subsea Pipe-Laying Operations to Link Qeshm to National Gas Grid
    Subsea pipe-laying operations are underway to connect the Persian Gulf’s largest island, Qeshm, to the national gas grid, managing director of Iran Gas Engineering and Development Company said. “...
  • Crude Oil Production Capacity to Reach 5.7 Million bpd in 8 Years
    Iran has planned to increase crude oil production capacity to 5.7 million barrels per day in the next eight years, managing director of the National Iranian Oil Company said. “The rise in capacity...
  • Sizable Price Gap Fueling Outbound Diesel Smuggling
    The main reason behind outbound diesel smuggling is the substantial gap between the fuel price in Iran and that of its neighboring nations, director of the National Iranian Oil Refining and...
  • Water in Isfahan Dams Down 56% Compared to Long-Term Average
    The total amount of water stored in the six large dams of Isfahan Province has reached 428 million cubic meters, director of operation and maintenance of water facilities at Isfahan Regional Water...
  • Bushehr Pressing Ahead With Desalination Plans
    Desalination projects worth $160 million are underway across the southern Bushehr Province with a total capacity of 160,000 cubic meters per day, of which 40% will soon go on stream, the head of...
  • Qazvin Dam Construction on Track
    About $7 million have been invested for the construction of Balakhanlou Dam in Buin-Zahra City, Qazvin Province, and it is expected to be completed by 2023, the energy minister said. “The dam will...
  • NIOC to Help Startups Play Bigger Role in Energy Sector
    The National Iranian Oil Company is ready to conclude agreements worth $700 million with knowledge-based companies to enhance the production of 750 oil and gas wells across the country, managing...
  • Brent, WTI Prices Mixed
    Oil prices were mixed on Friday as China's Covid-19 lockdowns and supply disruption fears weighed on the outlook for crude demand, as Western sanctions curb crude and products exports from Russia...
  • NPC’s Annual Profits Double
    The financial statement of the National Petrochemical Company for the fiscal 2021-22 shows the company’s net profit doubled in that year compared to the previous year. The statement, which was...
  • Crude Extends Gains
    Oil prices extended gains on Wednesday amid simmering geopolitical tensions as Russia cut gas supplies to Bulgaria and Poland, while hopes of Chinese economic stimulus buoyed the demand outlook.  
  • APG Contracts Worth $1.5b Underway in Khuzestan
    The National Iranian Oil Company signed 28 contracts worth about $1.5 billion in 2021 with Iranian companies to collect associated petroleum gas in Khuzestan’s oilfields mainly operated by the...
  • Qanat Restoration Operations on Track in South Khorasan Province
    Close to $60 million are needed to rehabilitate 7,000 qanats in the dry South Khorasan Province, the head of Water Affairs Department of Agricultural Organization said. “Of the total fund, $10...
  • Supply Side Strategies Cannot Manage Growing Gasoline Demand
    As long as gasoline demand is not managed efficiently, other strategies on the supply side such as importing the fuel, building new refineries or upgrading old facilities will not yield the desired...
  • Water Level in Dams Plunges as Drought Persists in Second Year
    The severe drought Iran experienced last year has continued in the current year (started March 21) and the two consecutive dry years have caused water levels in the dams to fall, said the director...
  • NIDC Drills 11 Gas, Oil Wells in First Month of Year
    The National Iranian Drilling Company drilled 11 gas and oil wells in the oil-rich regions of Iran during the first month of the current Iranian year (March 21-April 20), the deputy director of the...
  • Oil Prices Fall to 2-Week Lows
    Oil prices slumped to about two-week lows on Monday, extending losses from last week, as concerns grew that prolonged Covid-19 lockdowns in Shanghai and potential US rate hikes would hurt global...
  • NIOC’s Gasoline Revenues Decline
    The National Iranian Oil Company’s gasoline exports revenues decreased by 75% in 2021 compared to a year ago. The state-owned firm earned close to $3 billion in revenues by selling the fuel to...
  • Bandar Imam Petrochemical Company Breaks Own LDPE Production Record
    The low density polyethylene unit of Bandar Imam Petrochemical Company in Khuzestan Province registered a production record in the last Iranian year (ended March 20, 2022). The LDPE unit of the...
  • Isfahan Refinery in Expansion Mode
    Development plans at the Isfahan Oil Refining Company in central Isfahan Province are making headway to help the firm boost the production of crude oil derivatives compliant with Euro-5 emission...
  • Depletion of Aquifers Posing Serious Threat
    Poor rainfall and growing population in recent decades have led to the reduction of Iran's groundwater reserves, such that the level of groundwater in alluvial aquifers has decreased by an average...
  • CNG Sector Distressed Despite High Capacities, Advantages
    Although expansion of the privately-owned compressed natural gas industry can help curb gasoline consumption by 40 million liters per day, government negligence is pushing the CNG retail sector to...

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