The U.S. Treasury Department on Tuesday revoked its authorization of Iranian oil sales after a series of attacks on tankers in the Strait of Hormuz this week.
POLITICS Feed Atom
An oil and gas expert stated: Wars do not only destroy infrastructure; they also transform the logic of investment. Any country emerging from a security crisis faces two choices. The first is merely compensating for past damages, and the second is building a more resilient, competitive, and attractive economy for investment from the heart of the crisis.
The CEO of the National Iranian Oil Company said the massive public turnout at the farewell ceremony for the Martyred Leader reflected a renewed commitment to his ideals, stressing that oil industry employees remain steadfast in carrying out their responsibilities as the country's economic frontline.
Oil Minister Mohsen Paknejad said the country will remain steadfast in the face of its enemies, pledging continued support for Iran's leadership and resilience against external threats.
In a meeting between the Oil Minister of Iran and the Minister of Foreign Affairs of the Republic of Nicaragua, the development of bilateral cooperation between the two countries in the oil and energy sector was emphasized.
The secretary-general of the Organization of the Petroleum Exporting Countries (OPEC) extended condolences to Iran over the funeral of the Martyred Leader, Ayatollah Ali Khamenei.
The Oil Ministry's Basij Resistance Center has established service stations along the route of the farewell and funeral ceremonies for the Martyr Leader, offering cultural, medical and hospitality services to participants.
Russia has started seaborne imports of gasoline from India, two industry sources said on Wednesday, in an effort to mitigate fuel shortages triggered by Ukrainian attacks on its energy infrastructure.
President Masoud Pezeshkian commended Iran's oil minister and the country's oil and gas industry for maintaining energy production, exports and public services despite recent challenges.
Experts say the ceasefire will not reduce oil shipping costs through the Strait of Hormuz for the time being.
Iran's president said the recent ceasefire agreement is a great victory for the Iranian people, confirming that oil and petrochemical sanctions have been removed and that $6 billion in frozen funds will be returned via Qatar.
The Deputy for Commercial Services of Iran's Trade Promotion Organization announced the reactivation of trade exchanges between Iran and the UAE via Jebel Ali Port, one of the most important ports in the southern Persian Gulf.
Iran’s Oil Minister held discussions with India’s Minister of Petroleum and Natural Gas on expanding bilateral cooperation in the oil and energy sectors.
Oil Minister Mohsen Paknejad departed for India on Wednesday to attend the 11th BRICS Energy Ministers’ Meeting, where member states will discuss cooperation, sustainable energy development and shared priorities in the energy sector.
The admission of the ineffectiveness of oil sanctions against Iran comes after the signing of the memorandum of understanding ending the war between America and the Zionist regime against Iran, voiced by American officials. This follows Mohsen Paknejad, the oil minister, having previously responded decisively to Donald Trump's "maximum pressure" order aimed at reducing Iran's oil exports to zero, declaring that America's maximum pressure policy on Iran's oil exports has failed and that reducing Iran's oil exports to zero is a wish they will never achieve.
Iran’s Deputy Energy Minister Mostafa Rajabi Mashhadi announced a bilateral meeting with the Russian Energy Minister on the sidelines of the 6th Meeting of Energy Ministers of the Shanghai Cooperation Organization (SCO) in Bishkek, Kyrgyzstan.
The Deputy Minister of Economic Affairs and Finance and Head of the Organization for Investment, Economic and Technical Assistance of Iran, as the alternate member of the Board of Executive Directors of the Islamic Development Bank, met and held talks with Mohammed Al-Jasser, the President of the Islamic Development Bank.
Iran’s Supreme National Security Council (SNSC) said the Memorandum of Understanding (MoU) announced by Tehran and Washington on Monday morning will end war on all fronts, including Lebanon.
Iran's geographical position can turn the country into the main energy transit route between Central Asia and the Persian Gulf – a capacity that plays a key role in the region's economy.
A member of parliament said the Oil Ministry’s performance during the recent conflict helped prevent fuel and energy shortages across the country despite attacks on critical infrastructure.