• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 43 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days The United States produced more crude oil than any nation, at any time.
  • 10 days e-truck insanity
  • 5 days How Far Have We Really Gotten With Alternative Energy
  • 9 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 8 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 8 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 10 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 13 days Bankruptcy in the Industry
Biden Administration's SPR Plans Derailed by Oil Price Surge

Biden Administration's SPR Plans Derailed by Oil Price Surge

The Biden Administration cancels planned…

Iran's New $40 Million Natural Gas Platform Sinks

Iran’s plans to double its natural gas production over the next few months may have to go on hold for a while after a recently erected natural gas platform in the Persian Gulf sank last week.

The $40 million platform was built a company owned by the Iranian Revolutionary Guard Corps (IRGC), and funded by the Iranian government. If this is the standard to be expected from the IRGC then maybe fears of a blockade in the Straits of Hormuz are unfounded.

A giant natural gas field exists under Qatar and the south-western part of Iran, known as the South Pars/North Dome Gas-Condensate field. Qatar’s share gives them around 890 trillion cubic feet, equating to nearly 13% of the world’s total proven reserves; Iran on the other hand has 450 trillion cubic feet

Related article: Aubrey McClendon and the Destruction of the Natural Gas Market

Iran has the largest natural gas reserves in the world after Russia, and if it manages to boost its production volume significantly, and export its product, then it could spell doom for the coal industry. Natural gas is much cleaner that coal, and generally it can be cheaper as well.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage



Leave a comment
  • Joshua on February 08 2013 said:
    Not a bit surprised. There is no end to the center of the earth, these days.. on land or on sea. Should be happening more and more as 'time' goes on.

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News