President Masoud Pezeshkian called for incentive mechanisms, healthy competition among provinces and greater public participation to reduce energy consumption, saying a 10% cut could significantly ease pressure on the energy system during the coming winter.
IRAN Feed Atom
Iran’s crude oil production rose by 26,000 barrels per day in July 2026, reaching 2.478 million barrels per day and maintaining the country’s position as OPEC’s second-largest producer after Saudi Arabia, according to the organization’s latest monthly oil market report.
Iran’s Khark Petrochemical Company has entered joint projects with the Iranian Offshore Oil Company (IOOC) to collect flare gases, taking a new step toward securing sustainable feedstock, reducing flaring, and returning approximately 25 million cubic meters of gas to the national consumption cycle.
Iran and Pakistan have agreed to establish specialized working groups to follow up on major agreements involving energy trade, Iranian oil minister said Tuesday.
Oil Minister Mohsen Paknejad said about 95 million cubic meters per day of lost gas production capacity will be restored by the end of summer after damage to part of the gas processing facilities in Asaluyeh.
The Tehran Oil Refinery is pursuing a strategy to expand its export-oriented product portfolio, develop new businesses and complete its value chain by transitioning into a petro-refinery, its CEO said Monday.
The Minister of Economic Affairs and Finance, at a meeting of the State Banks Coordination Council, emphasized the need to strengthen coordination among banks, improve discipline in the banking network, and accelerate support for the production sector and economic enterprises.
The CEO of the National Iranian South Oilfields Company said 13 downhole pumps were installed during the first four months of the current year, with plans to install 40 by year-end.
The Vice-Chairman of the Transportation, Transit, and Logistics Committee of the Iran Chamber of Commerce, while outlining the achievements of the Iranian economic delegation's trip to Pakistan, stated that a new roadmap for Iran-Pakistan logistics cooperation was developed during this visit, with the expansion of transit and trade placed at the center of negotiations.
Simultaneously with the continued production on South Pars platforms, reconstruction operations at the damaged refineries are underway with accelerated speed, aimed at restoring lost capacity and preparing the country's gas network for the cold season.
President Masoud Pezeshkian said Saturday that managing resources and securing public cooperation will be essential to decisions about the future of fuel supplies, warning that Iran must be prepared to manage shortages if production and imports remain constrained.
Reconstruction of South Pars Refinery No. 3 has moved into the execution phase after Pars Oil and Gas Company signed an agreement with a consortium of domestic contractors.
The CEO of the National Iranian Oil Products Refining and Distribution Company underscored the strategic role of the Abadan Refinery in ensuring a stable fuel supply and accelerating development projects during a visit to the southern city.
The Deputy Minister of Industry, Mining and Trade for Commercial Affairs emphasized the revival of the Iran-India Joint Trade Working Group to expand trade relations between the two countries.
President Masoud Pezeshkian has identified the expansion of clean energy, the reform of the subsidy system, and the restructuring of public administration as the three central pillars of Iran’s economic transformation agenda, stressing that the government has already embarked on the reform process and will not reverse course.
Iran has finished construction on the final two processing trains of its Central Treatment and Export Processing (CTEP) unit at the South Azadegan oil field, bringing the country's largest crude processing facility to the brink of full operation, oil officials said.
President Masoud Pezeshkian said energy imbalance was among the most significant challenges facing his administration during its first two years in office, alongside war, sanctions, water shortages and drought, as he reflected on the government's record ahead of the third year of his presidency.
The head of the National Iranian Oil Refining and Distribution Company (NIORDC) stressed the need to speed up strategic reconstruction projects at damaged oil facilities to ensure steady fuel supplies, particularly to Tehran and the country's northern provinces.
The capacity for collecting associated petroleum gases has increased with the implementation of new projects, and the target of reducing flaring to 35 million cubic meters per day is being pursued.
Iran’s Academic Center for Education, Culture and Research (ACECR) has localized over 2,000 components used in the petrochemical sector that were previously dependent on foreign imports, according to the organization’s technology commercialization officials.
