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
  • KPC Finds New Market in the Balkans
    Karoun Petrochemical Company and the Boss Pool Company from Bosnia-Herzegovina have signed an agreement to collaborate in the field of petrochemicals. The agreement seeks to expand cooperation in...
  • Brent Climbs Over $120
    Oil futures gained on Monday, with Brent rising above $120 a barrel after Saudi Arabia raised prices for its crude sales in July, signaling tight supply even after OPEC+ producers agreed to...
  • Iran, Azerbaijan Agree to Increase Gas Swap Volume
    Tehran and Baku have signed a memorandum of understanding to increase the volume of gas swap from Turkmenistan to the Republic of Azerbaijan via Iran. Iranian Oil Minister Javad Owji signed the...
  • Natural Gas Delivery to Power Stations up 160%
    Natural gas supply to power plants has risen by 160% since March compared to January when it dropped under 100 million cubic meters per day, the head of the National Iranian Gas Company’s...
  • Brent, WTI Prices Gain
    Oil prices gained slightly on Wednesday after European Union leaders agreed to a partial and phased ban on Russian oil and as China ended its Covid-19 lockdown in Shanghai.  
  • Construction of Largest Middle East Solar Cell Factory Begins in Kerman
    The executive operation of constructing the largest Iranian factory to manufacture solar cells has started in Mahan County, Kerman Province, the representative of Kerman and Ravar in the parliament...
  • Transformer Oil Production Line Opens in Zanjan
    Iran has achieved self-sufficiency in the production of transformer oil and talks are underway to sell the product in international markets. Behzad Zahiri, managing director of Iran Transfo...
  • Natural Gas Tariff Hike Awaiting Cabinet Approval
    The Oil Ministry’s proposal to spike natural gas tariffs in the household sector is expected to be ratified by the Cabinet, based on which the vital commodity’ price will rise by 40%, the oil...
  • OPEC+ Sticks With Supply Plan
    The OPEC+ coalition will likely hold firm to its oil production plans this week, even as the European Union moves to sanction group member Russia, delegates said.  
  • High Electricity Wastage in Steel Sector Troublesome
    The production of 1 ton of steel in Iran requires 800 kilowatt hours of electricity, which is 62% higher than the global average. Based on data from academic studies, the average power consumption...
  • Mansouri Oilfield Output Up 4,000 bpd
    The development of two wells at the Mansouri Oilfield in Khuzestan Province is complete, said the managing director of Oil Industries' Engineering and Construction Group, contractor of the...
  • Zanjan Power Plant Injects 183 MW Into National Grid
    The first 183-megawatt gas unit of Aryan Power Plant in Zanjan Province was linked with the national power grid on Tuesday, the energy minister said. “Costing $300 million, close to 2.1 million...
  • EU Bans Russia Crude Imports
    Oil prices extended gains on Tuesday after the EU agreed to slash oil imports from Russia, fueling worries of a tighter market already strained for supply amid rising demand ahead of peak US and...
  • Inter-Basin Water Transfer to Revive Lake Urmia Not Viable
    Surveys conducted by foreign research centers in collaboration with domestic firms have shown that diverting water from the Caspian Sea in the north to Lake Urmia, Iran's largest salt lake in West...
  • Manjil Wind Farm Output Rises
    Electricity generation at Manjil Wind Farm in Gilan Province during the second month of the current Iranian year (April 21-May 21) increased by 21% compared to the previous month, a deputy manager...
  • Water Stored in Dams Hit 27.6 bcm, Down by 6% YOY
    Statistics show that since the beginning of the current water year (Sept. 2021) until May 28, the total volume of water stored in dams across Iran has reached 27.6 billion cubic meters, which...
  • Brent, WTI Prices Climb to Over Two-Month Highs
    Oil prices rose on Monday, hitting their highest in more than two months, as traders waited to see whether the European Union would reach an agreement on banning Russian oil imports.  
  • Construction of 9 Thermal Power Stations Making Rapid Progress
    The construction of nine thermal power stations across the country, which started in February, has registered 60% progress, a deputy managing director of Iran Power Generation, Distribution and...
  • Gas Supply to Ilam Rural Regions Near Completion
    The urban population of Ilam Province in western Iran has been completely supplied with gas and with the completion of gas supply projects to 44 villages by the end of the current Iranian year (...
  • Lordegan Petrochemical Company’s Monthly Output Rise by 540% YOY
    The production of Lordegan Petrochemical Company in the southwestern Chaharmahal-Bakhtiari Province in the second month of the current Iranian year (April 21-May 21) has increased by 540% compared...
  • Emarat Dam Takes In Water
    With the completion of the construction of Emarat Dam in Germi County in northwestern Ardabil Province, it has been filled with water, managing director of Ardabil Regional Water Company said. “...
  • Stopgap Power Solutions Unhelpful
    Power outages and restrictions imposed on industries and households in summer may have short-term benefits, but it is illogical, unsustainable and ineffective in the long run, a member of the...
  • Project to Supply Water to Birjand Restarted
    Work on the project to supply water to Birjand in South Khorasan Province has resumed after a one-year gap. With the allocation of funds, the project is expected to be completed within the next...
  • Gachsaran Petrochem Plant to Come on Stream by March 2023
    The construction of Gachsaran Petrochemical Company in Kohgilouyeh-Boyerahmad Province has registered 91.5% progress, the managing director of the plant said. Mostafa Heydarian said the plant is...
  • Fourth Gas Unit of Iran LNG Power Station Goes on Stream
    The fourth 162-megawatt gas unit of Iran LNG Combined-Cycle Power Plant in Kangan County, Bushehr Province, has come on stream, with the fifth unit to become operational in a month. The combined-...

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