INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Iran urges people to dress warmly to cut gas use

Iranians visit the Tochal peak of the Alborz mountain range, north of capital Tehran, on Jan 18, 2022. AFP
  • The record consumption was 748 million cubic meters on November 22, 2021.
  • Oil Minister Javad Owji asked people to save gas consumption so that we can pass the next 10 days "without any problem".

Iran’s oil ministry on Sunday urged people to wear warm clothes to reduce a surging demand for gas, as people turn up their heaters to cope with bitterly cold winter temperatures.

Iran has the world’s second largest gas reserves after Russia, and the fourth largest oil reserves. Gas is almost free in Iran because it is heavily subsidized.

“Gas consumption can be managed by wearing warm clothes and turning off heating appliances when leaving home and work,” Oil Minister Javad Owji said Sunday, according to the ministry’s Shana news agency.

“We ask people to save gas consumption so that we can pass the next 10 days without any problem.”

On Thursday, Iran’s Meteorological Organization issued weather warnings about low temperatures in several cities, including the capital Tehran.

“Even though, thanks to God and to the efforts of the employees of the oil industry, the gas network is stable, the continuation of this situation requires the cooperation of dear compatriots and consumption management,” he added.

Owji said that in past 24 hours, the use of 692 million cubic meters of gas had been registered in “domestic, commercial and non-major industry sectors”.

The record consumption was 748 million cubic meters on November 22, 2021.