Iran is the third-largest worldwide provider of subsidies for energy consumption, according to a new report by the World Bank.
To temporarily redress the growing imbalance between gasoline and diesel supply and demand, the government has started to import fuels, spokesman for the Majlis Energy Commission said.
Iranian people consumed as much as 99.3 million liters of gasoline on March 21 – the first day of the Persian New Year (Nowruz) holidays, according to the managing-director of the National Iranian Oil Products Distribution Company.
Iranian President Ebrahim Raeisi has inaugurated a new expansion project in the country’s flagship Abadan Refinery.
Iran’s liquefied petroleum gas shipments has risen by 50% to reach 310,000 tons per month, largely to Asia, since 2021.
An Iranian Oil Ministry official says the country has halted taking new orders for exports of gasoline as domestic demand for the fuel rises to all-time highs.
Iranian Oil Ministry’s fuel department (NIORDC) has slashed monthly gasoline quotas given to motorists in the country as it struggles to prevent fuel smuggling across the borders.
The construction of Iran’s first bioethanol plant has made 85% progress, according to Deputy Minister of Industry, Mine, and Trade.
Iran has launched a major power plant in its largest island in the Persian Gulf amid efforts to boost investment in the region.
An Iranian deputy president says the country will be ready to supply part of Europe’s energy needs if governments in the region commit to long-term contracts and avoid seeking third party intervention.