Iran with 37 gas fields; still dreaming of getting rid of imbalance

Despite having the world’s second-largest gas reserves, Iran continues to grapple with an energy imbalance. The country’s numerous gas fields are either underdeveloped or lagging behind in the competition for extraction from shared fields. While gas exports could become a regional lever of power, Iran has a tiny share of the global market. If this trajectory is not corrected, even meeting domestic demand will be challenged in the coming winters.

Oil Minister: Aggression against energy-producing countries is a threat to global stability

Stating that aggression against energy-producing countries is a violation of international law and a threat to global stability, the Minister of Oil said: "The energy industry, and especially oil, in today's interconnected world, needs peace and stability to play its role in promoting national, regional, and global prosperity."

Iran becomes OPEC’s second largest refiner

With a refining capacity of 2 million 237 thousand barrels per day and a 16% share in OPEC, Iran ranks second among the countries of this organization, and it also accounts for 2.1% of the world's refining capacity.

Breaking News

Fuel smuggling wastes $8 billion of the country’s resources annually

The advisor to the CEO of the National Iranian Petroleum Refining and Distribution Company reported that $6 to $8 billion of the country's resources are wasted annually due to fuel smuggling, saying: "We must have a national perspective in fuel allocation, while the relevant agencies have a sectoral perspective."

Increasing the country’s refining capacity to 2.4 million barrels

The Deputy CEO of the National Iranian Oil Refining and Distribution Company announced the increase in the country's refining capacity to 2.4 million barrels per day and stated: "The Abadan refinery has had the largest share in this capacity increase."

The important role of the Besat Power Plant of the South Pars Gas Complex in supplying electricity to the region

The CEO of the South Pars Gas Complex announced: "The Besat Power Plant of the South Pars Gas Complex, with its sustainable electricity production, in addition to providing energy to thirteen refineries, injects the surplus electricity produced into the power grid of four neighboring counties, which plays an important role in strengthening the region's national power grid."

Incentive package announced to facilitate upstream oil and gas contracts

Following the Supreme Leader's (Supreme Leader's) emphasis on facilitating and accelerating the conclusion and implementation of upstream oil and gas contracts, the Economic Council notified the Ministry of Oil of the issue of "facilitating the conditions for concluding and implementing upstream oil and gas contracts" in line with achieving the goals of the Seventh Progress Plan of the Islamic Republic of Iran.

Historic overhaul in Shazand, disruption in supply, and new hope for Sharak shareholders

Shazand Petrochemical Company will enter one of the largest overhauls in the last decade on June 7th; at the same time, disruptions in land transportation have challenged the complex's feedstock and affected production and sales; but perhaps the most promising news for shareholders is the reform of the feedstock pricing method starting in July.

Sharp decline in CNG consumption in the country

CNG supply has decreased from 23 million cubic meters per day in 1402 to 19 million cubic meters in 1403 and 16 million cubic meters in 1404, and unfortunately, this decline in demand continues.

The growth of gas production in Iran

Although Iran's daily gas production capacity has doubled in recent decades, structural, financial, and technological barriers threaten the sustainable growth of this key source of electricity for the industry.

Accelerating gas field development plans

In recent years, accelerating gas field development plans has become an unrivaled priority in energy policymaking in Iran; a policy that is being pursued with the aim of compensating for the supply shortage.

$200 million allocated for petrochemical downstream industries by the National Development Fund

The deputy chairman of the National Development Fund's executive board said: "If at least 20 complementary petrochemical industry projects are introduced and proposed and approved by the National Petrochemical Industries Company, a total of $200 million in funding will be allocated to finance these projects, and it will be divided among them based on need."

Allocating 2% of the income of Persian Gulf holding companies to research and development

The CEO of Petrochemical Research and Technology Company pointed to the valuable achievements of this company in the field of localization of technical knowledge and catalysts needed by the petrochemical industry and said: "The Petrochemical Research and Technology Company has had a successful performance in meeting domestic and export needs."

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