Representatives from Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) are due to participate in the 2024 United Nations Climate Change Conference – known as COP29 – in Baku, Azerbaijan.
Iran’s President Masoud Pezeshkian instructed officials on Saturday to swiftly eliminate obstacles hindering private sector investment in the electricity industry, aiming to address power shortages ahead of the peak demand season.
In line with efforts to reduce its reliance on gasoline imports, Iran has increased its daily gasoline output by 8.5 million liters over the past two and a half months, according to a senior Oil Ministry official.
Maramat Veis Karami, the CEO of the National Iranian Oil Products Distribution Company has announced a 7.4% increase in Iran’s average gasoline consumption.
Iran relies on natural gas for a bulk of its electricity generation demand, according to figures provided by a senior energy expert who believes low-efficiency rates in Iranian power plants are causing a considerable amount of waste in the sector.
Iran will add a sum of 14 power plants to its electricity grid to prevent power cuts during the hot months of the next year, said a member of the parliamentary Energy Committee.
Iran has registered new highs in gasoline and gasoil consumption as inter-city trips have increased since the beginning of the last month of summer vacations on August 22.
Iran and Turkmenistan have signed four memoranda of understanding (MoUs) to enhance cooperation in energy and transportation, capitalizing on their strategic regional positions.
Gasoline consumption in Iran set a new record high last Tuesday a day before the two-week Persian New Year holidays.
The head of dispatching operations at the National Iranian Gas Company (NIGC) says that households and businesses have accounted for some 76% of the country’s total natural gas consumption.