Iran Economy
- Thread starter Hack-Hook
- Start date
Persian Gulf
INT'L MOD
Persian Gulf
INT'L MOD
as planned for many years, Majlis approved removing 4 0s from rial
Pakistan Space Agency
Elite Member
So, it'll show 4 Rials instead of 40,000 Rials?
Isn't that just hiding the true reality of the situation or is that for practical reasons such as reducing note printing?
Persian Gulf
INT'L MOD
that's the government set rate not the free market rate
but yes. 100,000 rial will = 10 rial
countries frequently do this when their currency falls a lot (turkey did it in 2005) to simplify business
Homajon
Registered Member
Household Survey Data Reveal Modest Gains in Iran’s Living Standards for 2024/2025
The recently released microdata from Iran’s Household Expenditures and Income Survey (HEIS) offers valuable insights into household economic conditions across the country during the Iranian year en…djavadsalehi.com
. .
Rethinking CPI, Food Prices, and Living Standards in Iran
A comment from an informed reader prompted me to re-examine my earlier post on living standards in 2024/25. The issue raised was whether it is adequate—or even accurate—to deflate household expendi…
djavadsalehi.com
Persian Gulf
INT'L MOD
BigMela2onin
Registered Member
Rural poverty is over 30%? Iran needs to take some economic lessons from China. That is obscenely high.
Persian Gulf
INT'L MOD
Iran loses $2.5 billion arbitration against UAE, £100m NIOC building in London to be seized by UK government to fulfil the order
The Crescent case dates back to a 2001 contract between NIOC and Crescent Petroleum to supply 500 million cubic feet of sour gas per day from Iran’s Salman field. The deal, signed under then-Oil Minister Bijan Namdar Zanganeh, collapsed amid internal opposition in Tehran, prompting years of arbitration and litigation.
Iran was found liable for breaching the contract and was ordered to pay hundreds of millions of dollars in damages. In recent years, Crescent has moved to enforce those awards by targeting Iranian state assets abroad.
The London property was valued at about £100 million ($125 million), Iranian media said.
The Iran daily, a state-run outlet, attributed the loss of NIOC assets to “political interference by those who cancelled the Crescent deal.”
NIOC has already lost another office in Rotterdam as part of enforcement actions, leaving the company without any active offices in Europe.
www.iranintl.com
The Crescent case dates back to a 2001 contract between NIOC and Crescent Petroleum to supply 500 million cubic feet of sour gas per day from Iran’s Salman field. The deal, signed under then-Oil Minister Bijan Namdar Zanganeh, collapsed amid internal opposition in Tehran, prompting years of arbitration and litigation.
Iran was found liable for breaching the contract and was ordered to pay hundreds of millions of dollars in damages. In recent years, Crescent has moved to enforce those awards by targeting Iranian state assets abroad.
The London property was valued at about £100 million ($125 million), Iranian media said.
The Iran daily, a state-run outlet, attributed the loss of NIOC assets to “political interference by those who cancelled the Crescent deal.”
NIOC has already lost another office in Rotterdam as part of enforcement actions, leaving the company without any active offices in Europe.
UK court seizes Iranian oil company’s £100 million London property - media
A UK appeals court has upheld an earlier ruling ordering the seizure of a London property owned by the National Iranian Oil Company (NIOC) to help satisfy a $2.4 billion arbitration award in favor of an Emirati firm, Iranian media reported on Monday.
Persian Gulf
INT'L MOD
Tehran - BORNA - According to the Ministry of Petroleum, the Pazen field holds an estimated 10 trillion cubic feet (10,000 billion cubic feet) of natural gas in place, marking one of Iran’s most significant exploration achievements in recent years.
Minister Mohsen Paknejad, expressing gratitude for the discovery, said: “I thank God that today I can share good news with our honorable people — the discovery of new gas and oil reserves in the southern region of Fars Province, extending toward northern Bushehr.”
The Pazen field is situated approximately 21 kilometers from Jam City in Bushehr Province. According to Paknejad, after nearly eight years of suspended exploration activities, operations resumed on the second exploratory well, which has now been successfully drilled and tested.
“Based on the results of our drilling and well testing, we have reached an impressive and promising achievement,” the minister noted.
This new discovery adds roughly 10 trillion cubic feet of gas to Iran’s total in-place reserves. Assuming a 70% recovery factor, it would yield an estimated 7 trillion cubic feet of recoverable gas—a figure equivalent to 7,000 days (about 17–18 years) of production from a single phase of South Pars, one of the largest gas complexes in the world.
“This is a significant volume that underscores the enormous potential of the Pazen field and its importance to Iran’s long-term energy security,” Paknejad emphasized.
Field development contract signed — production expected within 40 months
The Oil Minister announced that a development contract for the Pazen gas and oil field has already been awarded, and field development operations will begin soon.
“It is estimated that production from this field will commence within approximately 40 months,” he said.
Paknejad further highlighted that during the latest phase of drilling, Iranian exploration engineers successfully penetrated a horizontal layer estimated to contain at least 200 million barrels of crude oil, marking a first in Iran’s exploration operations.
“With continued studies and complementary exploration work, there is strong potential for identifying even larger reserves,” he added.
borna.news
Minister Mohsen Paknejad, expressing gratitude for the discovery, said: “I thank God that today I can share good news with our honorable people — the discovery of new gas and oil reserves in the southern region of Fars Province, extending toward northern Bushehr.”
The Pazen field is situated approximately 21 kilometers from Jam City in Bushehr Province. According to Paknejad, after nearly eight years of suspended exploration activities, operations resumed on the second exploratory well, which has now been successfully drilled and tested.
“Based on the results of our drilling and well testing, we have reached an impressive and promising achievement,” the minister noted.
This new discovery adds roughly 10 trillion cubic feet of gas to Iran’s total in-place reserves. Assuming a 70% recovery factor, it would yield an estimated 7 trillion cubic feet of recoverable gas—a figure equivalent to 7,000 days (about 17–18 years) of production from a single phase of South Pars, one of the largest gas complexes in the world.
“This is a significant volume that underscores the enormous potential of the Pazen field and its importance to Iran’s long-term energy security,” Paknejad emphasized.
Field development contract signed — production expected within 40 months
The Oil Minister announced that a development contract for the Pazen gas and oil field has already been awarded, and field development operations will begin soon.
“It is estimated that production from this field will commence within approximately 40 months,” he said.
Paknejad further highlighted that during the latest phase of drilling, Iranian exploration engineers successfully penetrated a horizontal layer estimated to contain at least 200 million barrels of crude oil, marking a first in Iran’s exploration operations.
“With continued studies and complementary exploration work, there is strong potential for identifying even larger reserves,” he added.
Iranian Oil Minister Announces Major Discovery of New Gas and Oil Reserves in Fars Province
Iran’s Minister of Petroleum has announced the discovery of substantial new gas and oil reserves in the “Pazen” field, located in southern Fars Province, describing it as a strategic breakthrough that could play a vital role in addressing the country’s future energy imbalance.
borna.news
Navid09
Registered Member
Although it's showing that it's approaching pre trump sanctions levels.
I don't think it's an accurate image though, because i believe it's not showing the eroded purchasing power of the middle class, only the lower class
Homajon
Registered Member
Write it as a comment in the blog post. Look what Prof. Salehi-Isfahani has to say.
Persian Gulf
INT'L MOD
one person should not have this power. if an agreement is signed then it must be executed
Persian Gulf
INT'L MOD
oil export levels are strong
and oil production levels are improving (slowly)
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