Iran's Oil Sector Sees Significant Progress Under New Administration

Iran's Oil Minister Mohsen Paknejad has reported significant progress in the country's oil and gas sector during the first two years of the 14th government. Since taking office, approximately 11.5 million cubic meters per day of flare gas has been collected through various projects, bringing total associated gas recovery to 17 million mcm/d when combined with pre-existing efforts.

The administration has also completed oil production increase plans, expanded processing capacity in shared fields, discovered new gas reserves, and halted diesel imports. Paknejad described the early challenges upon his appointment in September 2024, noting that initial fuel reserve reports were concerning.

Paknejad emphasized that consumption optimization, not merely reduction, is key to closing the production-consumption gap. He praised the President's personal example in energy savings, noting that Pezeshkian keeps minimal lighting and avoids cooling devices even in summer.