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
  • Power Consumption Crosses 66 GW
    Power consumption across Iran surpassed 66 GW on Tuesday, indicating a 9% rise compared with the corresponding period of last year. According to data from Iran Grid Management Company, electricity...
  • Iran to Assist Venezuela in  Restoring Petrochem Capacity
    Iran will help Venezuela restore its petrochemical production capacity, Oil Minister Javad Owji said during a visit to the Venezuelan capital Caracas on Tuesday. “Venezuela’s petrochemical...
  • WTI Prices Inching Up
    Oil prices inched up on Wednesday, as investors awaited the outcome of the US Federal Reserve's June meeting, key economic data from China and government data on US crude stockpiles.
  • Global Oil Demand to Peak: IEA
    Global oil demand growth will trickle nearly to a halt in the coming years and peak this decade, according to the International Energy Agency, with Chinese consumption set to slow down after an...
  • Domestic Catalysts Help Reduce Costs in Shazand Oil Refinery
    Domestically-made catalysts have substantially reduced production costs at Shazand Oil Refinery in Arak County, Markazi Province, over the last 10 months, the managing director of the refinery said...
  • Fynesk Dam to Help Ease  Water Tension in Semnan
    The construction of Fynesk Dam, located 76 km northeast of Semnan City, the capital of the namesake province, is underway to help alleviate water tension in Semnan and nearby cities. With a capacity...
  • Offshore Rig Prices Climb
    Drilling for oil in miles-deep ocean water is booming again, as rig-rental prices are forecast to climb another 18% after doubling over the past couple years, according to Wood Mackenzie Ltd.
  • Dry-Cooling Towers Help Cut Water Use in Power Stations
    Ongoing operations to replace wet-cooling towers with dry-cooling systems are projected to reduce annual water consumption in thermal power plants by at least 13 million cubic meters, said a deputy...
  • Iranian Offshore Oil Company Raises Output by 20,000 bpd
    The oil output of the Iranian Offshore Oil Company has increased by 20,000 barrels per day, the managing director of the company said. “The rise in crude production has been made possible with the...
  • Germany's PV System Demand  Set for Double-Digit Growth
    German demand for photovoltaic power systems is expected to grow at a double-digit rate this year with solar storage system installations by mid-year topping the 2022 total, the BSW solar power...
  • Potentials of Iran’s Extensive  Natural Gas Pipeline Highlighted
    The massive length of Iran's gas pipelines has the potential to increase the country’s share in global gas trade and strengthen its geopolitical security, a consultant to the head of the National...
  • Tehran Dams 70% Empty
    The volume of water storage in dams supplying drinking water to Tehran Province is currently 581 million cubic meters, which shows a decline of about 51 mcm compared to the same time of last year...
  • EU Fuel-Switching Continues
    Fuel-switching by power generators in the European Union has continued in recent weeks with lower natural gas prices, although the potential for a further decline in coal-fired generation is now...
  • Power Production Capacity to  Increase by 8,000 MW in Summer
    Iran’s power production capacity will increase by at least 8,000 megawatts in summer when consumption will rise similar to previous years, the spokesman of the power industry said.  “Of the total...
  • Nord Stream Sabotage Probe  Turns to Clues Inside Poland
    German investigators are examining evidence suggesting a sabotage team used Poland as an operating base to damage the Nord Stream pipelines in the Baltic Sea in September.
  • Khorasan Razavi Rainfall 45% Lower Than Long-Term Average
    The total rainfall in Khorasan Razavi Province has been 98.8 mm since the beginning of the current water year (Sept. 23, 2022), which is 31% lower than last year’s corresponding period when 143 mm...
  • Satba, Education Ministry to  Equip Schools With Solar Panels
    In line with policies to install rooftop photovoltaic (PV) panels in educational centers, the Renewable Energy and Energy Efficiency Organization (Satba), Charity Schools Association of Iran and...
  • Africa’s Largest Wind  Farm Planned in Egypt
    Abu Dhabi Future Energy Company PJSC – Masdar, Infinity Power and Hassan Allam Utilities have all signed an agreement with Egypt’s New and Renewable Energy Authority to obtain land to build a 10-...
  • $30b Investment for Oil Projects
    By the end of the current Iranian year (March 2024), 64 incomplete projects in the oil industry worth $15 billion will be made operational, the oil minister said on Saturday. “Despite the harsh...
  • EU Fossil Fuels’ Emissions  Lower, Thanks to Gas Crisis
    Carbon dioxide emissions from energy use in the European Union fell by 2.8% last year, thanks to the lower use of natural gas following Russia's invasion of Ukraine.
  • New Metering Devices to Prevent  Disputes Between NIGC, Botas
    To prevent financial disputes and resolve technical hitches between the National Iranian Gas Company and Botas, Turkey's state oil and gas company, new equipment was installed at the Bazargan gas...
  • Persian Gulf Star Refinery to  Strengthen Food Supply Chain
    To help bolster food supply chain in Iran, Persian Gulf Star Refinery in Bandar Abbas in the southern Hormozgan Province is developing an initiative to convert hydrogen into value-added products,...
  • Spain’s Renewable Power to  Exceed 50 Percent in 2023
    Spain is on track to generate more than half of its power from renewable sources this year, the first of the top five European countries by power demand to accomplish this feat, according to Rystad...
  • Iraq to Revive Project for Building LNG Depots
    Iraq has approved plans to revive a war-crippled project to build liquefied natural gas depots in its largest governorate, the official Iraqi News Agency reported on Friday.
  • Oil Prices to Post More Losses
    Oil prices looked set to post their second straight weekly loss, as prices continued to fall on Friday over concerns about demand from China and due to skepticism over the United States and Iran...

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