Speaking at the 11th BRICS Energy Ministers’ Meeting in India, Paknejad
proposed the creation of the "BRICS Energy Security Partnership". The
initiative, intended to be integrated into the bloc’s 2025–2030 energy
cooperation roadmap, aims to protect critical infrastructure, encourage joint
strategic investments, and balance supply security for consumers with demand
security for producers.
Addressing Infrastructure Risks
The oil minister addressed the modern challenges facing the global
energy architecture, emphasizing that recent regional conflicts have
increasingly targeted commercial energy infrastructure. Paknejad noted that
disruptions to oil, gas, and petrochemical facilities act as a direct challenge
to broader global energy stability, triggering price volatility and escalating
commodity costs for civilian economies.
To counter long-term market uncertainty, the Iranian delegation
advocated for a regional approach to security, suggesting that stability in
West Asia is best managed directly by its littoral states.
Realistic Energy Transition Scenarios
A core focus of the ministerial address was the pace of the global
transition to clean energy. While acknowledging the necessity of collective
climate action, Paknejad cautioned against exclusionary policies that aim to
rapidly phase out fossil fuels, warning they could exacerbate global energy
poverty and compromise supply security.
Citing data from the recently published OPEC World Oil Outlook 2026,
Paknejad highlighted market projections indicating that hydrocarbons will
continue to meet over 53% of global energy demand through 2050. The report
expects no immediate peak in global oil demand within this timeframe, with oil
maintaining a 34% share in global power generation alongside its primary role
in industrial transport.
Consequently, Iran urged BRICS nations to accelerate global capital
deployment toward both traditional oil and gas production and advanced
decarbonization technologies to maintain structural stability.
Strategic Production Capacities
Despite operating under prolonged international trade restrictions,
Iran detailed its current domestic production benchmarks to underscore its
capacity as a major energy partner within the bloc:
- Natural
Gas: Annual output reached over 280 billion cubic meters in 2025,
accounting for roughly 7% of global supply.
- Crude
Oil: Production capacity stands at 4.2 million barrels per day.
- Refined
Products: Petroleum refining capacity has reached 2.4
million barrels per day.
- Power
Generation: Total domestic electricity capacity has
surpassed 100,000 megawatts.
Concluding his remarks, Paknejad emphasized that the collective
production, consumption, and innovation capacities of the expanded BRICS bloc
offer an exceptional platform to develop resilient, cross-border energy supply
chains.