EghtesadOnline: Oil prices advanced further on Wednesday, underpinned by major supply disruption in the south of the United States this week caused by a winter storm in Texas.
EghtesadOnline: The Guardians Council–a watchdog that ensures laws are in line with the Constitution and Sharia–rejected on Saturday the Iranian Parliament’s so-called “supply of essential goods to households” proposal, also known as the “third subsidy grant program”.
EghtesadOnline: The government plans to continue subsidizing essential goods in the next fiscal year (March 2021-22).
EghtesadOnline: The widening gap between what consumers pay and the final cost of water treatment and supply has pushed the state-owned Tehran Province Water and Wastewater Company (Abfa) into the red to the tune of $120 million so far, the company director said.
EghtesadOnline: While most power plants in Iran use gas to generate electricity, Bandar Abbas Thermal Power Station is among the few still using mazut as the main feedstock and is a major source of air pollution in the capital of southern Hormozgan Province, director general of Hormozgan Provincial Directorate of Department of Environment said.
EghtesadOnline: Oil rose on Monday, with Brent touching the highest in five months, underpinned by a 30% cut in Abu Dhabi crude supplies and encouraging Chinese data even as global demand struggles to return to pre-COVID levels in a well-supplied market.
EghtesadOnline: To help stabilize power supply in the desert Yazd Province, a small-scale power plant with distributed generation system came online in Taft County, the head of small scale power projects in the provincial electricity company said.
EghtesadOnline: Oil prices rose more than 1% on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet commitments on cutting supply and two major oil traders said demand was recovering well.
EghtesadOnline: To assist power supply during the hot summer, production of distributed generation (DG) power plants has increased 21% compared to last year.
EghtesadOnline: Iran and Iraq will invoke past agreements to expedite settlement of Iraqi arrears using a trading mechanism designed to supply basic goods to Iran.