The 19th Joint Commission on Economic Cooperation between Iran and Russia is an important opportunity to deepen strategic relations between Tehran and Moscow

The Minister of Oil considered the 19th meeting of the Iran-Russia Joint Commission an important opportunity to deepen strategic relations between Tehran and Moscow and emphasized: Strengthening economic cooperation between Iran and Russia can play an effective role in enhancing the economic capabilities of the two countries and forming an order based on common interests.

Saving $1 billion in oil and gas imports by properly managing consumption

The CEO of the National Iranian Oil Refining and Distribution Company announced a 4% decrease in oil and gas consumption in 1404 (2025). He said: Last year, one billion dollars was spent on importing oil and gas into the country, but this year passed without any imports.

Mismanagement brought petrochemical production to zero

Production in Khorasan, Lordegan, Kermanshah, Zagros, Sabalan, Kimia Pars, and many other urea and methanol petrochemical plants has dropped to zero; why? Because the only prescription of all governments to overcome the gas crisis is to close the gas valve of petrochemical plants.

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Petrochemical industry seeks sustainable management of water resources with recycling technology

The Director of Health, Safety, Environment and Passive Defense at the National Petrochemical Industries Company said: "The petrochemical industry emphasizes managing water resources by recycling and using wastewater."

Iran-US talks raise oil prices

Oil prices rose on Tuesday as concerns about supply increased due to media claims that talks between Iran and the United States may not reach a conclusion, while the dollar weakened.

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.