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.
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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.
An economic analyst believes: The opportunity that has arisen today in the shadow of Iran's exercise of sovereignty over the Strait of Hormuz must be pursued within the framework of a legal and economic regime appropriate to the region's security and strategic conditions in order to consolidate Iran's sovereignty over this waterway.
Russian Deputy Prime Minister Alexander Novak has warned that global oil markets could face supply shortages within a few months if the war with Iran persists.
The U.S. said on Thursday it has imposed new sanctions on Iran's military oil trade, even as Washington and Tehran reached a tentative agreement to extend their ceasefire and lift restrictions on shipping through the Strait of Hormuz.
Canada is set to announce a deal to supply Germany with liquefied natural gas from a planned export facility on the coast of British Columbia, according to people familiar with the matter.
Disruptions in the Strait of Hormuz shifted Iran's trade route toward neglected land and rail corridors, a path now activated from Pakistan and Iraq to China and Central Asia.
The Iranian Oil Ministry prioritizes non-price reforms in managing gasoline consumption, the oil minister said, emphasizing that the ministry is not the decision-making authority regarding pricing or rationing.
Both Iraq and Pakistan have cut deals with Iran to ship oil and liquefied natural gas from the Gulf, according to five sources with knowledge of the matter, in a demonstration of Tehran's ability to control energy flows through the Strait of Hormuz.
Iranian oil has become an attractive option for China’s independent “Teapot” refineries following the ceasefire agreement, as they seek immediate cargoes of Iranian crude.