Quoting the OPEC data, MNA announced that “Iran’s crude oil price rose by $4.76 per barrel from January to June 2024 compared to last year’s corresponding period.”
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Iranian Oil Minister Javad Oji says the country’s oil production has increased from 2.2 million barrels per day (bpd) in 2021, when the current government took office, to 3.6 million bpd in the current year, IRIB reported.
Pars Oil and Gas Company (POGC) has started a project to spud 35 new wells in the South Pars gas field to enhance and maintain gas production in the massive joint field.
A Chevron-chartered oil tanker that was seized by Iran more than a year ago was heading for international waters on Thursday, LSEG ship tracking data showed.
Russian President Vladimir Putin has told Iran’s Parliament Speaker Mohammad Baqer Qalibaf that cooperation between the two countries will continue to grow.
The oil industry is predicted to grow 8 percent over the five-year development plan to March 2028 amid rising oil production to 5.5 million barrels daily.
The Iranian Minister of Petroleum says every 100 100,000 barrels of oil production per day generates 2.8 billion dollars of revenues annually, so the more the country's oil production and refining capacity increases, the more the country's economic power and foreign exchange resources increase.
The Iranian Oil Minister Javad Oji has said the country plans to increase its daily crude production to 4.0 million barrels per day (bpd) by late March 2025 and the preparations for the mentioned increase are currently underway, IRNA reported.
As announced by a local official, NGL project, in Kharg island in the Persian Gulf, which is being built with the aim of reducing the gas emissions in this island to zero has achieved 75 percent physical progress.
After successfully producing a great part of oil industry catalysts at home, the country now enjoys the potential to export the catalysts to meet the neighboring countries' needs.
The head of the parliament’s energy committee has said that foreign investment in Iran’s oil industry quadrupled during the 3 years of the 13th administration in office.
Iran exported $3.0 billion worth of commodities to Iraq during the first three months of the current Iranian year, registering a 27 percent rise compared to the previous year's corresponding period, the caretaker of Iran’s Commercial Consultancy Office in Baghdad said.
Following the tragic loss of Ibrahim Raisi during the incident of a chopper crash in May, Iran held a snap presidential election in which Masoud Pezeshkian, a reformist-supported candidate was elected as the 9th president of the Islamic Republic of Iran in the run-off election on July 5.
The head of the National Iranian Gas Company (NIGC) Majid Chegeni has officially unveiled the country’s energy and environment optimization market in the Iran Energy Exchange (IRENEX), Shana reported.
Indian Ambassador to Iran Rudra Gaurav Shresth says that if the Iranian economy was not under the pressure of sanctions, the volume of trade between the two countries could reach $16 billion while it is now as low as $2 billion.
Balanced development and completing the value chain are two main targets of the petrochemical industry which are expected to be attained over the next seven years.
The electricity generated by renewable sources increased by 28 percent in the third Iranian calendar month (ended on June 20) compared to the same month last year, ISNA reported.
China’s independent refiners have increased their crude imports from Iran by 4.3 percent in June to an eight-month high of around 6.1 million metric tons.
Official figures show that pro-reform candidate Masoud Pezeshkian wins about 16.4 million votes, thereby becoming Iran's new president. His conservative opponent Saeed Jalili garnered about 13.5 million votes.
Iran and Turkmenistan have signed a gas swap deal under which Ashgabat will sell up to 10 billion cubic meters (bcm) of natural gas to Iraq each year.