Iran's energy sector review

While Iran's CBI says the amount of bad loans stand at 1000 trillion rials, spokesman of Judiciary System put the figure two times more than CBI's statistics. Each USD is sold at 35,000 rials in the open market, while the official rate of dollar against rial is 26,500 rials, then the amount of bad loan based on free exchange markets is about $51 billion and based of official rate is $75.5 billion. The amount of bad loans reached about $51 billion in Iran, while the loan-to-deposit ratio in the country's banks on average is in the critical stage. Gholamhossein Mohseni Ejei, the Spokesperson for the Iranian Judiciary announced Feb.19 that only half of debtors requested extending the deadline to pay off their debts. The figure indicates above 30 times increase compared to nine years ago when ex-President Mahmoud Ahmadinejad took power. The Central Bank of Iran has not published any updated statistics, but according to mid-2013 data released by the CBI, the total

Iran's power sector consumes about 400 million barrels of oil equivalent per year, sharing one fourth of total primary energy usage in the country. The latest weekly statistics, released on Energy Ministry's official website which covers statistics of 10.5 months of current fiscal year, started on March 21, indicate huge changes in the power sector, but not fundamentally. According to the report, Iran consumed about 43.47 billion cubic meters (bcm) of gas as well as 16.627 billion liters of liquid fuels for electricity generation during a 10.5-month period to produce 56,850 Megawatt power. Power sector Current year (10.5 months) Y/Y change Last year (12 months) Two year ago (12 months) Gas consumption (bcm) 43.47 34.4% 36 38.1 Diesel consumption (billion liters) 7.627 -24.5% 12.1 7.67 Fuel oil consumption (billion liters) 9 -33.5% 15.2 14.46 Actual power generation (GW) 56.856 54.879 54.879 54.043 The statistics