Iran's energy sector review

The Custom Administration released details of Iran's non-oil export indicating the country's revenues are affected by both crude oil and non-oil exports. Oil prices have decreased by almost 60 percent since mid-2014, while the country's oil export also indicates a decrease over the 10 months of 2015. The country's oil export to its Asian clients fluctuated around 1.1 million barrels per day (mb/d) during the first half of 2015, 8.9 percent less than the previous year, while "September and October loadings - for arrivals mostly in October and November - indicate purchases by Iran's main buyers in Asia are set to fall a third consecutive month," Reuters reported Oct. 6. Iran sold only 720,000 barrels per day in October to its four major Asian clients China, India, Japan and South Korea, while Turkey bought 110,000 barrels per day, the report said. Iranian government is setting next year's budget at $22 billion export revenues, 5 times less t...

Iran's refined gas production level reached 82.2 billion cubic meters during the first half of current fiscal year, 4 percent more than the same period in last year. According to Iran Oil Ministry's information obtained by Trend, currently the country's raw gas production capacity is 700 million cubic meters per day (mcm/d) -including flaring and re-injection-, while the sweet gas output capacity stands at 550 mcm/d. During the first half of year, Iran accelerated maintenance of refineries as well as developing the South Pars Phase 19 to add 14 mcm/d of natural gas to grid. The country is also to produce natural gas from phases 20 and 21 by winter. Iran is also planning to add 100 mcm/d refining capacity by late 2015. Iran's commercial gas production level reached about 202 billion cubic meters per day last year, while additional 100 mcm/d of gas production was planned for current fiscal year. Iran says the country's gas production would reach 1,100 m...