Pointing out that when the 14th government started, the level of power plant reserves decreased by about 45% compared to the same period last year, the oil minister said: "Now we are trying to compensate for the decrease in reserves at this point in time by increasing production as well as imports."
The meeting to review the latest status of joint investment projects with foreign countries was held with the presence of the Minister of Oil.
The latest statistics of the US Department of Energy show that in the past year, 187 ships have transported Iranian oil or oil products to 93 ports in 26 countries in the past year, ignoring US sanctions.
The fate of the world economy is tied to several narrow straits. These straits are the oil highways of the world through which millions of barrels of oil pass daily. From the Strait of Hormuz, the uncontested king of these vital vessels, to the Strait of Malacca, Bab al-Mandeb, the Suez Canal, and the Bosphorus, each in turn plays a key role in supplying the world with energy.
The implementation of development plans in the companies under the Oil Industry Pension Fund will ensure stable income to pay the salaries and pensions of oil industry retirees.
The growth of Iran's crude oil and gas condensate production in the third quarter of 2024 compared to the same period last year was about 9 percent.
Failure to select a new CEO of National Drilling Company has made the company's chaotic situation more chaotic than before.
The CEO of Iran Oil Pipelines and Telecommunications Company emphasized the full readiness of the oil transportation industry for winter fuel transportation, pointing out that 70 billion liters of petroleum products have been sent throughout the country during the first 6 months of this year.
Saudi Arabia, Bahrain, Qatar, and the United Arab Emirates carry out most of their oil exports through the Strait of Hormuz, and any tension in this region can seriously disrupt the energy exports of these countries and, as a result, global markets.
Analysts say, what is happening in the oil market today is a fire under the ashes. Although the decrease in concerns about the possibility of the Zionist regime attacking oil targets in Iran has reduced the excess risk rate these days and contributed to the drop in oil prices, it cannot last in the long term. What's more, the disruption in Iran's oil exports will make the oil market more risky.
