Energy

New York state-supported solar power increased by almost 800% from December 2011 to December 2016, Governor Andrew M. Cuomo announced on Tuesday, with almost $1.5 billion leveraged in private…

Global oil prices slipped on Wednesday as the US dollar, in which payments for crude are made, rose but they traded broadly at multi-week highs after OPEC signaled optimism over its deal with…

Goldman Sachs expects global crude oil stocks to keep falling due to production cuts and strong growth in demand, although stocks are likely to rise in the United States.

The National Iranian South Oil Company (NISOC) has signed its fifth memorandum of understanding with the MAPNA Group to study three oilfields in the southern Khuzestan Province. 

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OPEC and Russia will need to prolong their six-month deal to cut oil output if they plan to trim the global inventory glut that has kept a lid on prices, said Total SA Chief Executive Officer…

Oil output at BP-led oilfields in Azerbaijan in 2016 edged down to 630,000 barrels per day from 634,000 bpd a year ago, BP-Azerbaijan said on Tuesday. Natural gas production from the Shah Deniz…

Tehran and Moscow are close to signing an agreement for the export of 100,000 barrels per day of Iranian oil to Russia, Oil Minister Bijan Namdar Zanganeh said on Tuesday.

"The two sides…

Crude oil prices could shoot up to $70 a barrel by the end of 2017, as supply and demand levels continue to rebalance in coming months, according to analysts at Citigroup.

Nearer-term, the…

Russia is cutting down its oil production in February ahead of the OPEC deal schedule, Russian Energy Minister Alexander Novak said on Monday. "In February, we are going ahead of the schedule…

Oil Minister Bijan Namdar Zanganeh said the National Iranian Oil Company and French energy giant Total are still discussing the detail of a contract to develop Phase 11 of South Pars following a…

Oil prices rose more than $1 a barrel on Tuesday after OPEC said it was sticking to its agreement to cut production and hoped compliance with the deal would be even higher.

Rosneft PJSC signed investment and crude-purchasing agreements with Libya’s National Oil Corporation, as more international companies return to the North African country to gain access to Africa’s…

OPEC countries are aiming to boost compliance with agreed oil output curbs further from January's high levels to clear a supply glut that has weighed on prices, the group's secretary-general said…

Iran and Kuwait are taking steps to reach an understanding to develop Arash Gas Field in the Persian Gulf, which has been a subject of dispute between Middle East countries over the years, an oil…

Saudi Arabia has kicked off its $50 billion renewable-energy push as the world’s top crude exporter turns to solar and wind power to temper domestic oil use in meeting growing energy demand.

Oil prices rose on Monday but the gains were limited as investors gauged whether an increase in US drilling rigs and record stockpiles would undermine efforts by producers to cut output and bring…

A consortium led by Russian oil major Rosneft plans to finally complete its $12.9 billion acquisition of India's Essar Oil next month, two Russian sources close to the deal told Reuters. Acquiring…

Oil Minister Bijan Namdar Zanganeh on Monday signed two preliminary agreements in Iraq on developing joint fields and expanding gas trade with the Arab neighbor. 

The first agreement…

Japan is set to import a naphtha cargo from Iran this month, a source said, marking the first import from the Middle Eastern country since 2011.

Iran has sold its entire inventory of gas condensates in China, the Oil Ministry's official news agency, Shana, reported on Monday. Iran had stored up 10 million barrels of condensates in China as…

Bandar Abbas Refinery in the southern Hormozgan Province will begin production of 4 million liters per day of gasoline compliant with Euro-4 standards in the third quarter of 2017, the managing…

Gas supply to Sistan-Baluchestan’s provincial capital Zahedan will begin next week, the spokesperson for the National Iranian Gas Company said on Monday.

Oil pricing agency S&P Global Platts said on Monday it was making the first major overhaul of its Brent oil assessment in a decade to address falling supply underpinning the benchmark that…

Russia overtook Saudi Arabia as the world’s largest crude oil producer in December, when both countries started restricting supplies ahead of agreed cuts with other global producers to curb the…

The National Iranian Oil Company held talks on boosting collaboration with the China Petroleum and Chemical Corporation (Sinopec) in a meeting in Tehran Sunday.