Iran's energy sector review

Iran's gas condensate export during last month dropped by 260 percent to 205,000 barrels per day compared to the previous month. According to the Custom Administration's monthly report published on Sept.2, Iran sold 1,965 thousand tons of gas condensate two months ago, but this figure fell to 759 thousand tons last month. Iran's fiscal year started on March 21. Each of the first five months of Iran's fiscal year consists of 31-days. Iran categorizes the gas condensate as a non-oil commodity, sharing 29.82 percent of the country's total non-oil exports in value. However, if the condensate is recognized as ultra-light crude oil, then it shares about one third of Iran's total crude exports. Before the West's sanctions imposed in mid-2012 on Iran's oil exports, the country's condensate exports amounted to 265,000 barrels per day, but decreased to 195,000 barrels on average a year later. However, after Iran and the Six Powers' interim n

By Dalga Khatinoglu Iran with 1,190 trillion cubic feet of gas, as well as 157 billion barrels of oil reserves ranks second and forth as primary energy holder in the world, but due to huge consumption rates, it is suffering from energy shortage. Iran's upstream and downstream energy projects have faced long delays, cancellations or slow development due to the withdrawal of giant international companies as well as the lack of technology, financial might and mismanagement during last several years, while the primary energies consumption have grown at a fast pace. For instance Iran hasn't able to full commission any new oil and gas projects since 2007 and 2009 respectively. The Middle East country faced gas shortages last winter seriously. In addition to cutting the gas supply to power plants, which led to burning $30 billion of liquid fuels, the Iranian government had to decrease gas delivery to petrochemical plants from 1,236 million to 530 million cubic feet. T