In recent years, Iranian authorities have often announced significant discoveries of oil and gas reserves, but, in reality, the government has faced tremendous challenges – often self-inflicted – in actually extracting these resources. In February 2017 authorities revealed the presence of two billion barrels of shale oil reserves in the …
Read More »Limitations Abound On Iran’s Ability To Boost Oil Output
Bijan Zanganeh, Iran’s former oil minister, has made bold assertions regarding Iran’s potential to significantly increase its oil production, despite minimal investments and limited access to technology. Iran’s crude oil production stood at an estimated 3,163,000 barrels per day as of January 2024, showing a slight decrease from December 2023’s output of …
Read More »Iran Plans More Nuclear Reactors Despite Serious Hurdles
Iran’s recently stated plan to build four more nuclear power reactors has raised questions about its feasibility as the country wrestles with economic crisis and isolation. According to early estimates, work has started in the southern region with a five-thousand-megawatt total capacity in mind. With 4,000 employment prospects and an estimated …
Read More »Iran Remains Undecided About International Financial Conventions
The logo of the FATF (the Financial Action Task Force) is seen during a news conference after a plenary session at the Organisation for Economic Cooperation and Development Headquarters in Paris, France, October 18, 2019.
Read More »Iran Announces Questionable Oil Export Revenues
Iran announced this week that it exported $26.5 billion of oil during the past 9 months, a figure that contradicts both previous Iranian and international estimates. For years, Iranian administrations have not transparently disclosed their oil revenues, citing the illicit nature of shipments under the US sanctions regime. However, in …
Read More »Taliban Turn Back Tankers Carrying Iranian ‘Low-Quality Gasoline’
In a bizarre turn of events, the Taliban government’s standards office has returned fuel tankers carrying Iranian gasoline, deeming the product below standard. In a message on Thursday, November 29, posted on X, the Taliban stated that 24 tankers carrying low-quality Iranian gasoline were returned to Iran through the Farah’ …
Read More »Iran Sees Less Income From Oil And Gas Exports In The Coming Year
ran’s draft budget for 2024-2025, presented to the parliament, reveals a significant decline in oil and gas export revenues, and a surge in domestic energy prices. The bill outlines a projection of 1.35 million barrels per day for oil exports at an average price of €65 per barrel (approximately $71) …
Read More »Iran Wastes Huge Oil Reserves Due To Gas Shortage
Iran’s Chamber of Commerce’s Energy Commission head, Arash Najafi, warns that the natural gas shortage not only affects many sectors but also threatens Iran’s oil fields. He emphasized that without re-injecting gas into oil deposits, some fields might become unproductive, leading to substantial economic losses for the country’s oil sector. …
Read More »Ripple Effects of the Gaza War: Geopolitical Strains and Energy Market Shocks
The Gaza war has exerted significant pressure not only on the geopolitical equilibrium but have also sent ripples through global trade initiatives, energy markets, particularly affecting investment strategies and operations in the oil and gas sectors within the Mediterranean region. The ongoing Israel-Gaza war has dramatically increased geopolitical tensions across …
Read More »Iran Nurtures Ambitions For The Venezuelan Oil Market
Iran’s semi-official Fars news agency has stated that Tehran envisions to boost its oil exports to Venezuela, with a target of 860,000 barrels per day within three years. This plan involves not only exporting oil but also repairing Venezuelan refineries to facilitate this export. The goal is to restore Iran’s …
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