Energy

Iran’s oil minister says the country has rendered the US-led Western sanctions on gas condensates exports completely ineffective.

According to the Head of Iran's Customs Administration (IRICA), the country's non-oil foreign trade, comprising exports and imports, reached $36 billion during a four month period from 20 March to 21 July 2024.

The Iranian Oil Ministry in a statement on Saturday rejected reports that a large oil tanker that collided with a supertanker and caught fire off Singapore's coast was carrying Iranian crude oil.

A leak in a turbine condenser knocked a power plan in the southern Iranian city of Ahwaz offline and caused power outage in large parts of the Khuzestan province that is experiencing an average temperate of nearly 50 degrees Celsius.

Iran’s Oil Minister Javad Owji says the country’s outgoing administration has managed to increase crude production to 3.6 million barrels per day.

Iran and Turkmenistan signed a gas swap agreement that will transfer Turkmen gas to Iraq through Iran.

Tehran has become the fourth largest oil exporter within the Organization of the Petroleum Exporting Countries (OPEC) due to a surge in oil production and sales, according to a report.

Figures by the European Union’s statistics agency, Eurostat, have shown that Ankara resumed importing oil from Tehran in March 2024 nearly four years after it cut shipments to zero to comply with US sanctions on Iran.

Figures by a major energy data agency indicate that Iran had the second largest growth in oil production in the world in 2023 despite continued pressure from the US sanctions on its oil exports.

Iran’s minister of energy says the country has experienced a leap in electricity production, citing a recently released report by Energy Institute (EI) on the surge in energy production in different countries.

A memorandum of understanding (MoU) signed between Tehran and Moscow on potential transfer of Russian gas to Iran would help boost bilateral ties and serve the interests of the two sides and the region, Acting Iranian President Mohammad Mokhber has stated.

Iran and Russia sign a strategic energy deal to transfer Russian gas to the Islamic Republic.

Iran’s crude production increased by 1.4 million barrels per day during the late President Ebrahim Raisi’s administration despite over 600 new sanctions imposed by the West on exports, the country’s oil minister says.

Iran’s Ministry of Petroleum has signed four new contracts worth over 2 billion dollars with the private sector to develop its oil and gas fields.

Iran's Oil Minister Javad Owji says Tehran will continue the policies of late president Ebrahim Raisi including in the energy sector.

The Qiz Qalasi dam on the Aras River in northwestern Iran, tipped as the most important water project for Iran and the neighboring Republic of Azerbaijan, became operational on Sunday.

Iran’s President Ebrahim Raisi will jointly inaugurate with his Azerbaijani counterpart Ilham Aliyev a dam on the Aras River on Sunday.

India’s Foreign Minister S. Jaishankar has downplayed US threat of sanctions after New Delhi signed a landmark contract with Tehran to operate the Chabahar Port in Iran, stressing the project will “benefit the entire region".

Iran is pushing its policy to draw foreign investors in the oil sector by putting then on seven oil fields in the south of the country, the head of the National Iranian Oil Company (NIOC) says.

Iran’s Oil Minister Javad Owji said oil production in the country has jumped 60 percent in the past 2 ½ years.

Pakistan’s Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar has reiterated that Islamabad will deter external interference when it comes to complying with the terms of a natural gas import contract with Tehran.

Mohammad Eslami, the head of the Atomic Energy Organization of Iran, announced that the construction of the first nuclear concreting island at the Karun site in southern Iran will commence in the fall.

Tehran is exporting more oil than at any time for the past six years, giving its economy a $35bn-a-year boost, the Financial Times has reported.

The Organization of Petroleum Exporting Countries (OPEC) says Iran took the lead among oil producers in March 2024 when it produced 3 million 188 thousand barrels per day (bpd) of crude, 28,000 bpd more that its output in February.

Pakistan has stressed it is within its rights to import natural gas from Iran despite the US objections to fresh attempts by Islamabad to revive a 2009 gas supply agreement with Tehran.