Officials from Saudi Arabia say oil at $50 to $60 a barrel would ensure adequate global supply, setting out a potential price band for the producer club before its meeting in Vienna next month.
Energy
Kuwait's finance minister and acting oil minister, Anas al-Saleh, said on Tuesday he was optimistic that an understanding on production "at least" would be reached between producers at an OPEC…
A group of Italian investors has voiced interest in financing a development project in Jam Petrochemical Complex (JPC) in the southern Bushehr Province.
According to Shana, an Italian…
Iran's October crude and condensate exports are set to hold near five-year highs seen in September, a source with knowledge of its preliminary tanker schedule said, reflecting Tehran's success in…
A delegation of private companies and investors from the British Chambers of Commerce explored opportunities for cooperation in Iran's South Pars megaproject in a meeting in Tehran last week.
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Iran Power and Water Equipment and Services Export Company (SUNIR) has exported $82 million worth of engineering and technical services since March 2015, but is working for a significant increase…
OPEC’s struggle with the first step of its new production deal -- agreeing on how much its members are pumping -- deepened as Iran became the third nation to openly question the organization’s…
Exxon has turned into a collateral victim of the US economic sanctions against Russia. Exxon, the world’s biggest oil and gas company by value, entered Russia in the 1990s and has enjoyed a…
Four plans, including a solar power project that involves foreign investment, are now underway in Fars Province, director general of the Economic Affairs and Finance Bureau of the province said.…
Former managing director of National Iranian Tanker Company said all restrictions imposed on the state-run company were lifted after the implementation of the nuclear agreement with the six world…
The oil minister on Monday laid out policies and plans to further boost crude oil and gas production and said Iran needs to invest $200 billion in its key energy sector over five years.
German chemicals giant BASF said on Monday that several people had been injured and some were missing after an explosion at its facility in Ludwigshafen, where the company is headquartered. The…
Iran has no plans to take on Russia in Europe’s natural gas market, managing director of National Iranian Gas Company said on Sunday.
“We cannot compete with Russia in the European (gas)…
Expensive subsidies for fossil fuels and the negative attitude of authorities and stakeholders have resulted in Iran lagging behind global trends in the fast-emerging renewable sector.
Solar panels have been installed in Tehran's Pardisan Park for green electricity production, said Masoumeh Ebtekar, head of the Department of Environment.
She made the statement on her…
Norway's Statoil said on Sunday it had stopped production at its Statfjord A platform in the North Sea due to a fire, and started to evacuate personnel.
Oil majors including Statoil, Shell and Chevron are experimenting with various technologies, from drones and drill design to data management, to drive down costs and weather a deep downturn.
Iran has no stockpiles of crude oil at sea and floating gas condensates are rapidly dwindling as exports pick up in wake of the lifting of international economic sanctions, says a senior official…
The National Iranian Tanker Company’s board of directors appointed Sirous Kianersi as the company’s new managing director on Saturday. According to IRNA, Kianersi will replace Ali Akbar Safaei,…
The world’s prominent energy forecaster will raise its outlook for wind and solar installations following a decade of underestimating growth in the renewables industry.
OPEC's deal to cut oil production is unlikely to result in a substantial reduction in supplies, some of the world's biggest oil trading companies said this week, meaning the market is unlikely to…
The global demand for electricity is set to double by 2060 thus leading to a significant expansion of global capacities, a top Siemens official said. "At present, around one billion people have no…
South Korea's crude oil shipments from Iran jumped 85.8% in September from a year ago, with imports in the first nine months of 2016 soaring 114.1%, customs data showed on Saturday.
The National Iranian Oil Company has called on foreign corporations to submit documents to be vetted for a hitherto unknown number of oil and gas tenders.
Royal Dutch Shell has agreed to invest $350 million in a major petrochemical project in Iran's Hamedan Province, director of the Industry, Mine and Trade Organization at the province said.
