News in Brief
Iran to export renewable electricity to Pakistan
Pakistan is to be the first destination for exports of Iranian renewable electricity, announced Alireza Parandeh-Motlaq, the deputy head of the Renewable Energy and Energy Efficiency Organization of Iran (SATBA) for technical and engineering affairs.
Putting the total capacity of the country for export of renewable electricity at 300 megawatts, the SATBA official also noted that Turkey and Iraq have the infrastructure to import renewable electricity from Iranian plants, ILNA reported.
to receive electricity from Iran, Afghanistan needs to build two stations as well as 50 km of transmission line, Parandeh-Motlaq said.
The largest wind power plant, with the capacity of generating 50-MW, was inaugurated in the southern province of Sistan and Balouchestan by Iran’s Minister of Energy Ali Akbar Mehrabian on Friday.
“Mil Nader” power plant is equipped with twenty 2.5-MW turbines.
More than 250 million liters of water and 30 million liters of diesel will be saved annually with the generation of every 100 megawatts of the renewable energy.
According to the SATBA, it is planned that up to 700 MW of the electricity will be generated in Mil Nader region in the coming years.
China’s imports of Iranian oil soared in May
Export of Iranian crude oil to China this May surged to the highest level in seven months after a recovery in refining margins.
According to Bloomberg, China imported 1.54 million bpd of Iranian oil in May 2024, the most since October 2023, according to data from Kpler. Over half went to buyers in the port city of Qingdao in eastern China’s Shandong province, where many independent refiners are clustered.
China’s independent refiners — known as teapots — have struggled with weak margins for making fuels this year, which has led to companies cutting operational rates. The processors account for a quarter of the vast Asian country’s total refining capacity and are typically big producers of diesel.
The profit from converting crude into diesel and gasoline — or the crack spread — has recovered since early April and are near the highest seasonal level in 10 years.