Iran's energy sector review

Iran's Oil Minister Bijan Namdar Zanganeh said Iran will become self-sufficient from gas imports after the Iranian 1394 solar year which will start on March 20, 2015. According to Shana News Agency, Zanganeh said on October 30 that gas shares 70 per cent of Iran's energy consumption basket. Iran has 33.6 trillion cubic meters of gas reserves. According to the U.S. Energy Information Administration report, Iran's natural dried gas output was about 153 billion cubic meters (bcm) which is as much as the domestic consumption figures. According to this report released in March 2013, overall, Iran's natural gas consumption is expected to grow around seven per cent annually for the next decade. Natural gas accounted for about 59 per cent of Iran's total domestic energy consumption in 2010 with oil consumption at 39 per cent of total energy use, according to EIA. Iran's gas import from Turkmenistan has decreased from above 10 bcm in 2010 to 4.5 bcm last...

In tandem with Speaker Ali Larijani's visit to China, Iran's Vice President Mohammad Bagher Nobakht said the country's $22bn worth of assets has been blocked in China. China is Iran's biggest oil costumer, second goods supplier and first non-oil commodities importer in the world. According to China Customs, this country which recently overtook the U.S. as the world's biggest oil importer, imported 16.01 million tons of Iranian oil during first nine months of the current year. The amount equals 428,160 barrels per day. Therefore, China imported more than $12.3 billion dollars' worth of Iranian oil during the first three quarters of 2013. Beijing makes Iranian oil payments through its national currency the yuan and deposits it in an internal bank account which is accessible only for purchasing permitted commodities inside China and exporting them to Iran. Iranian oil customers have not been permitted to allow Iran to exclude oil export revenues abroad s...

Iran's crude oil exports have decreased from 2.2 million barrels per day (mbpd) in 2011 to less than 1 mbpd currently. According to the statistics of the Iran's Customs Administration, the country's condensates exports have plunged significantly as well. Iran's Oil Minister Bijan Namdar Zanganeh said on October 27 that the country's crude oil incomes would reach $54.5 billion annually if the US-led sanctions over Iran's oil export are eliminated. While the oil price stands at about $107 per barrel, the targeted oil export income figure equals to the value of selling 1.4 mbpd. Later in September, member of Iranian Parliament Planning and Budget Commission Hossein Ali Haji Deligani said that Iran's oil and condensate revenues were around $23 billions during the first six months of the current solar year (started on March 21). He went on to note that, the country's crude oil and condensates exports currently stand at 1.209 mbpd, citing on a report submitted...

Iran's crude oil exports have halved since early 2012, falling from 2.2 million barrels per day (bpd) to around one million bpd, but Iran had about 0.3 mbpd of condensate exports which dropped to below 0.1 mbpd last month. An Iranian Customs Administration report published on October 2, says Iran exported only $280 million worth of condensate in the last month of the Iranian calendar (August20-September 20). This figure indicates a 55 per cent fall compared to Iran's average condensate export revenue during the current year. Iran exported $3.105 billion worth of condensate during the first five months of the current solar year which started on March 20. However this figure for the first six months increased just to $3.385 billion. In other words, Iran's monthly condensate export in the first five months was averaging around $620 million, while this figure for the last month was about $280 million which indicates a 55 per cent decrease. Iran's condensate expor...

Iran's positive trade balance has reached $20 billion during the last five months, despite huge reduction in both export and import volumes. Iranian legislator Hossein-Ali Hajideligani who serves as a member of Planning and Budget Commission of Parliament quoted Iranian Oil Minister Bijan Zanganeh as saying that Iran's current crude oil and condensate export stand at 1.209 million barrels per day. Hajideligani told Fars News Agency on September 25 that Iran's oil and condensate exports reached $23 billion during fist six months of current Iranian solar year, which began on March 20. Iran exported about averagely $3.83 billion worth of oil and condensates per month (19.16 billion per 5 months). Iran also exported about 9 billion cubic meters (bcm) of gas to Turkey with $4.5 billion worth and imports around 4.5 bcm gas from Turkmenistan with $2.3 billion worth in 2012, while the gas import/export figures remained unchanged during current year. Then Iran's net revenue f...

Iranian President Hassan Rouhani repeated "hope", "peace" and "humanitarian" words 15, 14 and 10 times respectively during his speech at United Nations General Assembly meeting, the most repeated words among his 2348-word speech. He also mentioned 11 times the word "war" in order to emphasizing the necessity of avoiding hostility. Despite his predecessor Mahmoud Ahmadinejad's offensive position, a person who had spoke 8 times during his 8-year presidency at UNGA and each time his rhetoric statements have raised opposite views against Iran and damaged the country's image before international community more and more, Rohani's speech was massively welcomed by all nations, except Israel. Rouhani also quoted a couplet written by Iranian great ancient epic poet Hakim Abul-Qasim Ferdowsi (940 - 1020 CE) as saying "Strive in causing Goodness, Bring the spring, whenever you see coldness". Iranian moderate president didn't have a ...

Prior to his visit to the United States, Iranian President Hassan Rouhani gave his first interview among the foreign media outlets to the NBC TV Channel, in which he claimed that he has all the necessary authority for any steps in discussions of the nuclear issue with the West. It was the first time that an Iranian president says he has the full authority to make decisions over such a priority and strategic issue. According to article 110 of the Iranian constitution, the right to make strategic and foreign policy decisions in Iran, mainly belongs to religious leader Ayatollah Ali Khamenei. "I still support the rules of diplomatic ethical conduct, as well as what I said years ago, a heroic flexible policy," Khamenei said recently at a meeting with generals of the Iranian Revolutionary Guard Corps (IRGC). Saying that 'years ago, he spoke of the heroic flexible policy', Ayatollah pointed to the book, which he has translated and published by him 44 years ago at t...