National Iranian Drilling Company (NIDC) dug and completed digging operation of 73 oil and gas wells during the first five months of current Iranian calendar year (March 21-August 22), according to an official with the NIDC. Hamidreza Khoshayand, the deputy managing director of NIDC, said over 100,000 meters of digging has been conducted for the […]

According to the newest data released by the Central Bank of Iran (CBI), Iran’s debts to foreign lenders in the end of the fourth Iranian month of Tir (July 22, 2018) stood at $10.66 billion, showing 5.6 percent decrease in comparison with announced figure in the first Iranian calendar month of Farvardin (March 21- April […]

OPEC’s leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia, ruled out on Sunday any immediate, additional increase in crude output, effectively rebuffing U.S. President Donald Trump’s calls for action to cool the market. “I do not influence prices,” Saudi Energy Minister Khalid al-Falih told reporters as OPEC and non-OPEC energy ministers […]

 The 12th edition of Iran’s International Exhibition of Plastics, Rubber, Machinery and Equipment (Iran Plast 2018) will kick off today at Tehran Permanent International Fairgrounds, Shana reported. According to the exhibition’s director Reza Khalaj, exhibitors from 15 different countries including Germany, Italy, Switzerland, Austria, Cyprus, Belgium, Serbia, Thailand, Greece, India, the Netherlands, Turkey, China, Taiwan […]

 Iran’s Persian Gulf Star Refinery (PGSR)’s daily gasoline output will reach 40 million liters by the end of current Iranian calendar year (March 20, 2019) once the third phase of the refinery is complete, according to Soroush Ziglari, the operation director of the refinery. Last December, Oil Minister Bijan Namdar Zanganeh said: “Iran will reach […]

Tehran Stock Exchange (TSE)’s main index (TEDPIX) jumped 3,209 points to end trade at 160,538 points in the last day of summer, IRNA reported. As reported, 4.628 billion shares worth 13.572 trillion rials (about $323 million) were traded through 221,153 deals in the stock market. The first market’s index gained 2,341 points while the second […]

 Some 448 units in 91 of Iran’s thermal power plants are going under a general overhauling program to get ready for the next year’s demand peak period. The annual overhaul program starts every year in early September and will continue until late May in the next year, the report said. According to Bahman Mehran, head […]

Iran is going to need 8000 megawatts (MW) of new electricity capacity to prevent outages in the next summer, Tasnim news agency reported on Saturday quoting the energy minister. “Our estimate is that, the peak demand for the summer of 1398 [next Iranian calendar year], will reach over 61,000 MW while our current operational capacity […]

 Governor of Central Bank of Iran (CBI) Abdolnaser Hemmati announced that $13 billion has been allocated to supply basic goods required in the country. As the official has previously announced CBI has paid €3.2 billion to import basic goods during the past month. “In the past month, €1.8 billion has been paid for importing basic […]

India may revert to paying Iran in rupees for the oil it buys from its third largest supplier as U.S. sanctions will from November 4 block use of U.S. dollars to settle such trades, a top official said Thursday. Oil refiners such as state-owned Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) […]