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Finance

Iran's energy crisis intensifies, industries shut down

By Asia Tech Times
Last updated: 22/03/2025
3 Min Read
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According to the New York Times, Iran is facing a “full-blown energy emergency” with government offices closed or reducing hours, schools and universities forced online, manufacturing has all but stopped, and highways and shopping malls are dark due to power outages. .

Iran is normally one of the world’s largest suppliers of natural gas and crude oil, but targeted attacks by Israel, which secretly blew up two pipelines in February, add to “years of sanctions, mismanagement, aging infrastructure and waste” sexual consumption”, creating a crisis that, the report says, seriously affects daily life.

President Masoud Pezeshkian, who was elected in July, apologized to citizens in a live televised address this month, explaining that “we face very serious problems with gas, electricity, energy, water, money and the environment.” imbalance,” adding that “all of them are at levels that could turn into a crisis.

Officials say the country needs to lose 350 million cubic meters of natural gas per day to function properly, but as temperatures plummet, the government has been forced to either reduce household use or shut down supplies to power plants. It chose the latter because 90% of Iranians rely on natural gas for heating and cooking, so they need natural gas for heating.

As of Friday, 17 power plants were offline and the rest were operating only partially. This means state-owned and private companies could face losses of 30-50% – totaling billions of dollars.

The crisis caused the rial to fall to an all-time low against the dollar.

read Full report: The New York Times.

See also:

Russian oil tanker sinks in Black Sea, US warns of ‘dark fleet’

Nikkei, Hang Seng fall on Israel, Iran concerns, Chinese stocks rise

China warns Iran of Red Sea attack as Suez trade tanks

U.S. imposes sanctions on Chinese energy companies over Iranian oil

Iran wants to launch new currency for Chinese group responsible for 30% of global GDP

EU Secretary-General Josep Borrell says Iran nuclear deal ‘very close’

Iran calls Saudi-Kuwait deal to develop Dura gas field ‘illegal’

Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He served as a senior editor at The Nation for more than 17 years.

Contents
See also:Russian oil tanker sinks in Black Sea, US warns of ‘dark fleet’Nikkei, Hang Seng fall on Israel, Iran concerns, Chinese stocks riseChina warns Iran of Red Sea attack as Suez trade tanksU.S. imposes sanctions on Chinese energy companies over Iranian oilIran wants to launch new currency for Chinese group responsible for 30% of global GDPEU Secretary-General Josep Borrell says Iran nuclear deal ‘very close’Iran calls Saudi-Kuwait deal to develop Dura gas field ‘illegal’Jim PollardLeave a Comment
TAGGED:crisisEnergyIndustriesintensifiesIran39sshut

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