Lots of oil but no power: how Iran ran low on energy

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Financial Times 14h ago

Lots of oil but no power: how Iran ran low on energy - Financial Times

Quick Summary:

What a shame for a country so rich in oil and gas, with huge solar and wind energy potential,” said Javad, a Tehran engineer who declined to give his full name.“This is the result of ineffective managers and officials who are all talk and no action.

So severe is the economic and energy crisis that President Masoud Pezeshkian acknowledged in September that the government was struggling to pay workers and was therefore tapping into the National Development Fund, a sovereign wealth fund that is supposed to guard current oil revenues for future generations.

I suspect that we are also running out of heavy fuel oil,” said Hashem Oraee, chair of the Iran Energy Associations Syndicate, an industry group.