Over 92% of Iran’s electricity still comes from fossil fuels, prompting government efforts to boost renewable energy and address its persistent energy imbalance.
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Iranian Oil Minister Mohsen Paknejad stated that the formation of a “Supreme Energy Council” is under consideration to improve coordination among various energy sectors in the country.
Ayatollah Ali Khamenei, in a televised speech, condemned widespread waste of fuel and food as a grave economic problem, stressing that eliminating it would greatly improve Iran’s situation and calling for public unity behind the government.
Indian banks are cautiously reentering Russian crude financing, backing only sanctions-compliant trades with non-blacklisted sellers, vessels, and payment systems, according to Bloomberg.
Petrochemical Pardis Company and Pars Special Economic Energy Zone Organization signed an MoU to boost Iran’s urea exports by securing 30,000 tons of storage and a dedicated dock for direct shipments.
Iran’s Bushehr Province’s industry chief warned that despite hosting South Pars and many petrochemical plants, the region gains little economic benefit, urging a rapid focus on downstream development and retaining financial resources locally.
The head of the National Iranian Oil Refining and Distribution Company said 391 million liters of low-sulfur mazut had been delivered to four thermal power plants by late November.
The Iranian Ministry of Economic Affairs and Finance (MEAF) unit says it is investigating a controversial instant payment made by a convicted fuel smuggler to secure his release from custody.
Iran, China, Kazakhstan, Uzbekistan, Turkmenistan and Turkey signed a multilateral agreement in Istanbul aimed at expanding rail freight movement along the southern branch of the Eurasian transit corridor, reinforcing Iran’s position as a core gateway for container traffic between China and Europe.
Iran’s President Masoud Pezeshkian said the government is fully prepared to manage the coming winter and emphasized that if each individual, household or organization cuts energy use by just 10 percent, the country could save between 800,000 and 900,000 barrels of oil per day.
Iran plans to create an independent banking system dedicated to its free trade zones as part of a broader effort to overhaul the country’s economic governance, the economy minister said, adding that free zones will serve as the launchpad for structural reform.
The US Treasury Department imposed sanctions on a network of front companies and shipping intermediaries accused of facilitating Iran’s oil sales, in what it described as an effort to curb Tehran’s oil revenue.
Senior officials from Iran’s ICCIMA and Afghan economic bodies signed multiple cooperation agreements in Kabul to boost trade, investment and technical collaboration in mining, agriculture, energy and healthcare sectors.
The head of the CNG project at the National Iranian Oil Products Distribution Company said the country has saved $75 billion in gasoline consumption since the start of its CNG industry.
Iran and China have signed a cooperation agreement to advance joint deep-sea research within the framework of Iran’s BRICS membership.
Iran’s exports to Africa doubled in the first half of the current Iranian calendar year (August 23-September 22) compared with the same period last year, the acting head of the Africa office at the Trade Promotion Organization (TPO) said.
Iran became the fifth-largest importer of gold in the world by recording a demand of 58 tons of gold in the first nine months of 2025. The rate reflects a significant increase in consumption and huge currency pressure.
President Masoud Pezeshkian gave automakers one year to improve engine efficiency or face losing foreign currency and production permits, stressing government-backed adoption of modern technologies and prioritizing safe, electric vehicle production.
A senior Chinese business leader in Tehran said Iran–China trade could expand several-fold if structural barriers are removed, citing vast untapped economic and geopolitical potential.
The Iranian Parliament’s Research Center has praised the Oil Ministry’s performance during the first year of the Seventh Development Plan, reporting that the ministry’s output exceeded expectations in key areas such as production growth. However, the report noted that financing remains the main challenge to fully implementing the five-year plan.