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
  • Water is a heavily subsidized commodity in Iran and while urban consumers pay 43% of its real price, only 23% of the production cost is paid by consumers in rural regions, says the director of...
  • Rise in Ethane Lifts Iran Ethylene Output
    The rise in ethane production in Iran over the last eight months has helped petrochemical plants raise their ethylene output by 420,000 tons – reaching about 7.7 million tons.  According to Iran's...
  • Washington Extends Iraq Exemption From Iran Sanctions
    The United States has granted Iraq a 90-day extension to an exemption from reimposed sanctions on Iran to keep on importing energy, a government source said on Thursday.
  • Iran's Installed Power Capacity Surpasses 82 GW
    Installed power generation capacity has exceeded 82 gigawatts. According to Paven, The Energy Ministry news portal, thermal power plants account for 68,000 MW of the total. The website said gas-...
  • Japan Nuclear Recycling Policy at Standstill
    Supplies of uranium, used to fire nuclear power plants, are becoming increasingly plentiful globally, threatening to make redundant Japan's long-standing policy of recycling spent nuclear fuel.
  • Iran Records Leap in Euro 4, 5 Diesel Production
    The output of diesel compliant with Euro 4 and 5 standards has increased by 17 million liters per day, said the director of coordination and production supervision at the National Iranian Oil...
  • Substandard ACs Taking Toll on Power Grid
    Energy Minister Reza Ardakanian says smuggled air conditioners put an extra and unwanted burden on the electricity grid. "Close to one million air conditioners are imported [illegally] every year...
  • Russia's 2019 Crude Output at 11.165mbpd
    Russian energy minister Alexander Novak expects his country's crude oil output in 2019 to be around 555-556 million tons (11.145-11.165 million barrel per day) but said this figure could be revised...
  • ICCIMA Says Wants to Help Improve Water Industry
    A water conference opened on Tuesday at the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) to discuss ways and means for improving water productivity and management. The two-...
  • Iranian Private Firms to Construct 6 Offshore Vessels for IOOC 
    Iranian Offshore Oil Company, a subsidiary of the National Iranian Oil Company, has signed contracts with three private companies to build six offshore vessels.  "The ships, designed to serve...
  • Iran Announces Oil, Gas Discoveries
    Head of exploration department of the National Iranian Oil Company said Monday cooperation with international companies on studying new oil and gas fields is underway and 13 fields were discovered...
  • Global Coal Demand to Edge Higher
    Global coal demand will edge higher until 2023 as growth in India and other Asian countries offsets a decline in Europe and the United States, the International Energy Agency said Tuesday.
  • Iran: 9 Petrochem Plants Under Construction in Western, Southern Regions
    Iran's Persian Gulf Petrochemical Industries Company is undertaking nine petrochemical projects worth $8.5 billion, the company’s managing director said. "When completed in 2021, PGPIC output,...
  • New Oil, Gas Ventures Accelerating Globally
    The number of new oil and gas projects will rise five-fold next year from a 2015 trough but overall spending is still unlikely to be enough to meet future demand, consultancy Wood Mackenzie said in...
  • Cost of Renewable Power Falling Rapidly in Iran
    The cost of producing renewable energy in Iran, similar to many other parts in the world, has declined 2.5 times in two years, deputy energy minister, Seyed Muhammad Sadeqzadeh, said Sunday....
  • Electricity Users on the Rise in Iran
    The number of electricity meters in Iran has reached 35.5 million with 3.5 million new consumers having joined the national grid since 2015.  According to ISNA, household, agriculture, and...
  • Lopez Obrador Says Will ‘Rescue’ Mexico Oil Industry
    Mexican President Andres Manuel Lopez Obrador detailed plans to “rescue” the national oil industry by boosting crude production at the state-owned oil company by 45% before 2025.
  • Russia Oil Exports Down
    Russia exported 36.65 million barrels less crude oil in the first ten months of the year, not least because of its participation in the OPEC+ pact to reduce global supply. 
  • Saudis Will Cut Oil Export to US
    After flooding the US market in recent months, Saudi Arabia plans to slash exports to the world’s largest oil market in the coming weeks in an effort to dampen visible build-ups in crude...
  • Iran Power Consumption Patterns Indefensible
    Power consumption in Iran has risen by an average 5.5% per annum in the past 40 years – an increase over and above the population growth rate. The growing consumption has become a cause for concern...
  • OPEC Unplanned Supply Losses Could Double Cutback
    OPEC may be about to succeed by accident, again. 
  • China Will Resume Oil Import From US
    Unipec, the trading arm of Chinese state oil major Sinopec and China’s largest buyer of US crude oil until recently, is set to resume purchases from the United States “very soon,” and volumes are...
  • Iran Petrochem Export Revenue to Exceed $12b by March
    The National Petrochemical Company's revenues are estimated to exceed $12 billion by the end of the current fiscal in March, Behzad Mohammadi, the new head of NPC said Saturday. "NPC exported...
  • Work in Progress at Southern Power Plant
    Construction work on Hengam Combine Cycle Power Plant in southern Hormozgan Province is halfway through and its gas unit will come on stream next summer, director of the project Alireza Nasrollahi...
  • Oman will cut oil output by 2% from January for an initial period of six months, according to a letter sent to customers of Omani oil by the country’s oil and gas ministry. 

Pages

Financialtribune.com