Energy

The delayed project to swap Kirkuk crude oil in the neighboring Iraq to Iran is expected to be launched later this month, the secretary-general of Iran-Iraq Chamber of Commerce said on Friday.…

Iran's Energy Ministry meets a major part of its need for high-tech equipment with the help of domestic manufacturers, a deputy energy minister said.

OPEC crude production dropped to the lowest in a year amid the woes facing Venezuela’s oil industry.

Output from 14 members of the Organization of Petroleum Exporting Countries fell by…

Oil prices slipped on Wednesday on expectations for a buildup in US crude inventories, but Russian government comments on prospects for stepping up cooperation with OPEC to coordinate output…

The global deal to rein in oil output has removed “85% of the problem” of oversupply, and OPEC and allied producers are seeking ways to cooperate after the agreement ends, UAE's Energy Minister…

Gasoline consumption in Iran during the 13-day period marking Norouz (the Iranian New Year) hit a record 1.2 billion liters. Iranians burnt an average of 97.1 million liters of gasoline per day…

Iran is expected to fetch $14 billion in revenues from petrochemical exports in the current fiscal (started March 21), the head of National Petrochemical Company said on Wednesday.

Oil Minister Bijan Namdar Zanganeh has urged the need to support the private sector in line with the country's push toward indigenization of oil and gas equipment, saying his ministry has…

To play a more leading role in international drilling ventures, the National Iranian Drilling Company, a subsidiary of National Iranian Oil Company, is in talks with a number of foreign firms,…

Iran’s Energy Ministry predicts a 4,000-megawatt reduction in power generation during the approaching summer peak consumption hours compared to that of last summer, as chronic water crisis will…

Mega crude oil tanks in the port of Jask in the southern Hormozgan Province will have the capacity of storing up to 30 million barrels of crude oil, the managing director of National Iranian Oil…

Iranian manufacturers of equipment and parts used in the petrochemical industry should be backed by the government and domestic banks, the managing director of Tamin Petroleum and Petrochemical…

International sanctions against Iran's banking system will not create a major hurdle on transferring money into the country by Russia’s state-owned oil company Zarubezhneft, which made a major…

To develop 27 hydrocarbon reservoirs, negotiations are underway between the state-owned National Iranian South Oil Company and multinationals to sign deals worth $4.3 billion in the next two…

In an effort to increase the share of natural gas in its energy supply, China’s state energy company Sinopec plans to nearly triple receiving capacity for liquefied natural gas by 2023 and to…

Indian Oil Corp, the country’s biggest refiner, will spend $22 billion on its expansion over the next five years, eying a capacity boost to 3.2 million barrels daily by 2030.

Oil prices inched up on Tuesday as rising Russian output and expectations of a reduction in Saudi Arabian crude prices were offset by a potential slowdown in US production.

The Iraqi Cabinet on Sunday approved a plan to raise the nation’s oil output capacity to 6.5 million barrels per day by 2022, according to a government statement. Iraqi Oil Minister Jabar al-…

Production from Azar Oilfield, currently at 30,000 barrels per day, will reach 60,000 bpd upon the completion of operations to drill new wells in the field, manager of the development project…

Iraq plans to award oil and gas exploration and development contracts in 11 new blocks on April 15, oil ministry spokesman, Asim Jihad, said on Sunday.

The country had initially set June…

Russian oil output rose slightly in March to an 11-month high of 10.97 million barrels per day, above a quota agreed under a global pact to curb production, energy ministry data showed on Monday…

Oil prices rose on Monday, lifted by a drop in drilling activity in the United States.

US WTI crude futures were at $65.20 barrel, up 26 cents, or 0.4%, from their previous settlement.…

Turkmenistan is exploring options on gas swap deals with Iran to export its fuel to markets further afield, Iranian President Hassan Rouhani reportedly said during a visit to Ashgabat on March…

Bahrain said on Sunday it had discovered the country’s largest oilfield in decades, located off the west coast of the kingdom, according to state news agency BNA.  The new tight oil and…

The second gas sweetening train of the South Pars Gas Field's Phase 13 in Persian Gulf will go on stream in April, less than a month of implementing its first train, the director of Phase 13…