Iran's energy sector review

After two gas export contracts with Iraq to sell daily 45 million cubic meters (mcmpd) of natural gas, Tehran sealed a deal with Muscat to export 30 mcmpd of natural gas on March 12. It's expected the deal be implemented in three years. Iran holds 18 percent of global gas reserves, amounted at 33.6 tcm and produces 575 mcmpd of gas, approximately equals with domestic consumption level. However, the country is also expected to launch five phases of giant South Pars with 180 mcmpd of gas production capacity until 2017. The current production level of South Pars is about 300 mcmpd of gross gas, which of above 200 mcmpd is refined. Phases Production capacity development Implementation date Phase 12 81 mcmpd 92% completed until January 2014 2014 or 2015 Phase 15 and 16 50 mcmpd gas 92% completed until January 2014 2015 or 2016 Phase 17 and 18 50 mcmpd 82% completed until January 2014 2016 or 2017 During Iranian President Hassan Rouhan...

Iran Custom Administration's reports indicate dropping condensate exports in 2013 by 13 percent. The International Energy Agency's latest reports indicates that Iran exported about 1.07 million barrels of crude oil and condensate during 2013. Iran's daily crude oil and condensate exports during 2013 decreased by 450,000 barrels compared to 2012. Iran exported about 8.42 million tons of condensate during December 19, 2012 to December 20, 2013, custom's data states. Gregorian year Statistics indicates that during December 20, 2012 to March 19, 2013, Iran's total condensate exports stood at 1.288 MT, indicating a 50 percent drop compared to the same period in the previous year, but the country's condensate exports experienced a huge soar during three latest months of 2013. Condensate export based on Custom reports: From December 20, 2012 to March 19, 2013 stands at 1.228 MT From March 20, 2013 to October 21, 2013 stands at 3.926 MT From O...

Before diving in depth of the Iran-Six powers nuclear negotiations to achieve the final accord, it seems that EU foreign policy chief Catherine Ashton is testing the water during her visit to Iran by meeting with the country's several powerful wings, including Iranian hard-liners. This is the first visit of a senior EU leader to Iran after six years (2008), but with new hopes and different atmosphere than during the former President Mahmoud Ahmadinead's presidency. Alongside visiting with Iranian President Hassan Rouhani and Foreign Minister Mohammad Javad Zarif, Ashton has had a couple of meetings with Iran's former nuclear negotiator Saeed Jalili, the top politic advisor of Supreme Leader Ali Akbar Velayati, the Secretary of Iran Supreme National Security Council Ali Shamkhani, as well as Parliament Speaker Ali Larijani Mrs.Ashton's spokesman Michael Mann, who accompanied the European delegation that flew to Tehran on March 8, told the BBC Persian service ...

For a country like Iran with an 8-percent power consumption growth annually, managing the power generation is vital. Iran plans to boost the efficiency of thermal power plants, which shares 57.5 GW of the country's total 68 GWh power generation capacity. Hamid Chitchian, Iran's Energy Minister told Shana on March 4 that some 120 trillion rials ($4.8 billion based on official USD rate in Iran on March.4) has been allocated based on pay-back contracts during current fiscal year's budget law to increase the efficiency of thermal power plants (TPP). Iran's fiscal year started on March 20, 2013. Some 120 trillion rials were allocated in the next year's budget law to improve TPPs' efficiency as well. He went on saying that the TPPs' efficiency is aimed to increase from its current 37.5 percent to 50 percent. Iran's TTPs produces 57.5 GW electricity, equal to 210 GWh, and shares about 85 percent of the country's total electricity generation c...

During Iran's ex-President Mahmoud Ahmadinejad's presidency the oil officials kept warning about the high rate of gas consumption in the country. They used to stress the importance of cutting gas consumption, saying that Iran's gas consumption is equal to that of the European Union. On March 2, the managing director of Iranian Fuel Conservation Company, Nasrollah Seifi, repeated the claim. He said that households' consumption accounts for the lion's share of the country's total gas consumption. He went on to note that Iranians currently pays only 16 per cent of the real price of natural gas and the government pays for the rest in the form of subsidy. According to him, the final price of natural gas after implementation of the subsidy reform plan should be around 18,700 rials per cubic meters. The figure currently stands at 700 rials. Iran's gas consumption equal to that of EU's? BP's annual report suggests that Iran's gas consumpti...

Iran's monthly condensate exports after the nuclear interim accord achieved on November 24 increased by 281 percent compared to previous months of the country's fiscal year. According to a report released by Iran Custom Administration on Feb.25, Iran exported 11.886 million tons of condensate during the first 11 months of the current fiscal year which began March 20, of which 7.453 million tons was exported between November 20, 2013 to February 19, 2014. Iran's monthly condensate export: March,20, 2013 to November 19, 2013 November 20, 2013 to February 19, 2014 11 months of current fiscal year Y/Y change Thousand tons 663.26 t/m 1863.25 t/m 1080 t/m 29.3 percent Barrels per day* 192,800 bbl/d 521,918 bbl/d 302,000 bbl/d 29.3 percent Value $3.926 bn $5.553 bn $9.479 bn 11.6 percent * density of the condensate: 0.75 t/m3, 1 bbl of condensate ≈ 0.119t According to the U.S. Energy Information Administration's report publi...

Based on the latest reports released by international organizations, including the International Energy Agency (IEA), in January, Iran's oil exports increased by 250,000 barrels per day compared to the country's average monthly exports in 2013. Iran's monthly oil exports gradually increased in the past four months, reaching 1.32 million barrels per day (including gas condensates) in January. Iran's average oil exports were around 1.07 million barrels per day in the previous year. Gas condensates are a kind of light and expensive crude oil extracted from gas fields. Before the US-led sanctions, Iran used to produce 400,000 barrels of gas condensates per day. The country's average monthly income from exporting gas condensates was around 850 million dollars in the mentioned period. International organizations, such as IEA usually put gas condensate under the category of crude oil exports. A rise in gas condensates exports Iran Customs Administration re...