The acting oil minister called for solidarity, convergence, and extra work in the country’s current conditions, and urged higher production, wider oil-industry activity, rebuild of damaged sites, flare-gas gathering, and faster completion of projects ready to open. National interests must be protected and Iran turned into a great construction site, he said.
ECONOMY Feed Atom
The acting oil minister said the oil industry is in an all-out economic war and that new strategies will be used to push oil production to the maximum and keep exports going in the way most useful to the country.
Iranian Parliament Deputy Speaker Ali Nikzad said the United States will never be able to reduce Iran’s oil exports to zero, arguing that Washington had drawn up plans targeting Iran’s oil and a significant share of the world’s oil resources and believed it could pressure Iran’s economy by gaining control of the Strait of Hormuz, but had failed to understand the Iranian people.
Iran’s Minister of Petroleum said the two countries have reviewed existing opportunities to expand energy cooperation between the Islamic Republic of Iran and Azerbaijan and agreed to pursue areas of mutual understanding through joint working groups.
A 60% capital increase at Nouri Petrochemical, listed under the ticker Nouri, has been officially recorded at the companies registry after approval by an extraordinary general meeting and completion of the legal steps.
An extraordinary general meeting of the National Petrochemical Company was held with the company’s chief executive and representatives of the relevant agencies present, and the financial statements for the fiscal year ended March 20, 2026, were approved.
The oil minister told parliament that 100 million cubic meters of gas capacity has been recovered and that a remaining shortfall of 120 million cubic meters will be managed with liquid-fuel storage.
The commercial director of the National Iranian Oil Products Distribution Company said a 40% increase in fuel station operators’ handling fees will take effect on a provisional basis from tonight and that the new gasoline and diesel rates have been loaded into the system.
President Masoud Pezeshkian said Iran and Pakistan need deeper economic and energy cooperation and that the two countries can meet many of their needs through their own and regional capabilities.
Mehrdad Bazrpash, Iran’s minister of roads and urban development in the 13th government, said the Hormuz shock is no longer confined to oil and that the effects of the war have now reached the price of money.
Iran has stopped importing gasoil after raising output at domestic refineries and will add about 5 million liters a day of diesel capacity by the end of the Iranian year, Oil Minister Mohsen Paknejad said.
The second session of Persian Gulf Petrochemical Industries Company’s extraordinary general meeting chose a new five-seat board on Thursday, Sept. 17, 2026.
Persian Gulf Star Refinery is producing 51 million liters of gasoline a day — about half of Iran’s supply — TAPICO CEO Ruhollah Shahidipour said at the holding’s annual general meeting.
Iran’s Supreme Audit Court has issued a preventive warning to the Oil Ministry on timely fuel supply for thermal power plants ahead of the cold season.
The National Iranian Oil Products Distribution Company issued a statement rejecting reports that 3,000- and 5,000-toman gasoline quotas had been dropped for cars worth more than 1 billion tomans.
Iran is prepared to act as a strategic partner in BRICS energy, food and transport supply chains, drawing on large energy reserves and a central geographic position, President Masoud Pezeshkian said.
Pardis Petrochemical, listed in Tehran as Shapdis, recorded one of its strongest monthly revenue performances in August 2026, Codal filings show, with sales more than doubling from July on a surge in urea exports.
Over the past two years of Iran’s 14th administration, Petropars Group has advanced a slate of major national oil and gas projects focused on raising output, developing shared fields, and completing infrastructure. Gas production from South Pars Phase 11 rose from about 12 million cubic meters per day to more than 26 million cubic meters per day. Oil production capacity in the central package of South Azadegan exceeded 84,200 barrels per day, and with the commissioning of four CTEP trains, the nominal capacity of Iran’s largest crude processing unit reached 320,000 barrels per day. In the same period, development of Belal and Farzad B continued, the South Pars pressure-boosting project moved into the implementation phase, and the field phase of intelligent pipeline pigging began.
A member of the Energy Committee of the Parliament stated that the discovery of new hydrocarbon reserves indicates that the development of the oil industry has not come to a halt even under wartime conditions.
The Minister of Economic Affairs and Finance stated that a significant portion of the current problems dates back to pre-war conditions, although today's economic issues cannot be oversimplified or analyzed with a "two-plus-two-equals-four" logic. He said: "For example, at one point they tried to prevent medicine from entering the country. We eventually found alternative routes, but naturally, during that period, medicine prices increased."
