From reckless policymaking to official warning to petrochemicals; Iran’s propylene market at risk

Despite the special capabilities in developing the propylene value chain, due to excessive licensing and lack of sound policymaking by the National Petrochemical Company, this market is becoming saturated and is on track to suffer a similar fate to methanol production units.

Get to know one of the most modern refineries in Iran, Bandar Abbas Oil Refinery

Bandar Abbas Oil Refining Company, as one of the 10 largest refineries in the country, plays a key role in providing Iran with the energy and products it needs. The refinery was built on an area of about 770 hectares, 20 kilometers west of Bandar Abbas city and on the northern shore of the Persian Gulf, and went into operation in 1997 with an initial capacity of 232,000 barrels per day.

Iran’s electricity is caught in false pricing; power plants don’t even cover their maintenance costs

The CEO of Jamco said: "The electricity economy in Iran is paralyzed; power plants are not even making ends meet for their repairs, let alone building new ones." He warned that incorrect electricity pricing has caused investors to flee the sector and that the electricity imbalance is deepening every year.

Breaking News

Persian Gulf Holding’s Extraordinary Ordinary General Assembly was held

The Esteghlal Club held an extraordinary ordinary general assembly and approved the club's financial statements for the year ending July 31, 2024.

US announces readiness to implement sanctions against oil production in Iran

US Energy Secretary Chris Wright has announced that the Trump administration is prepared to impose sanctions on Iranian oil production. In an interview with Bloomberg on Monday, Wright said that during Trump’s first term, “Iranian oil exports have been reduced to a very limited level.”

Developing the country’s commercial ports based on a comprehensive plan

The head of the Ports and Maritime Organization, while announcing the latest status of Makran Port, said: "The capacity of the country's ports is about 295 million tons, but 80 million tons of this capacity is empty. To optimize the capacities, with the sharp vision of the Supreme Leader, the government and the Islamic Consultative Assembly have taken steps towards realizing sea-oriented development."

Preparations of Tehran region pipelines to supply Tehran with fuel during holidays

The director of the Tehran Regional Oil Pipelines and Telecommunications Company announced the complete readiness of this complex to supply fuel to Tehran Province and the northern half of the provinces during Nowruz, saying: "The necessary arrangements have been made to provide the petroleum products needed by the people and travelers during the Nowruz holidays."

Signing of a Memorandum of Understanding on Cooperation in Oil-Prone Areas and Exploration

The National Southern Oilfields Company and the Exploration Management of the National Iranian Oil Company signed a memorandum of understanding to cooperate in exploration, development, and production processes.

Transfer of shares in Persian Gulf Petrochemical Industries

The divestiture board made key decisions regarding the divestiture of shares in Persian Gulf Petrochemical Industries at its 430th meeting in the first week of March this year.

Exploitation of the first well of the infill project in South Pars

The CEO of South Pars Oil and Gas Company said: "The first well of the South Pars in-field drilling plan of 35 wells has been put into production with the aim of maintaining gas production from the field."

Domestic gas consumption reaches 65 percent

Gas consumption in the domestic, commercial, and industrial sectors is over 550 million cubic meters, accounting for 65 percent of the total gas delivered to the national network.

The seizure of Iranian tankers is not true

The Foreign Ministry spokesman described the claims made by Reuters news agency about stopping Iranian tankers as a form of production or dissemination of untrue, false, or biased news, and said: "There is no basis for any action against free trade and commercial ships of countries in open waters."

Crisis in offshore facilities; protest rally in front of the oil pension fund

Continuing this situation will destroy the livelihoods of offshore facility workers, accelerate the exodus of specialists, and spell a bleak future for Iran's largest offshore company.

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