Mexican Finance Minister Jose Antonio Meade said last week that approximately $5.4 billion in funds for state-run oil firm Pemex will be eliminated from the proposed federal budget in 2017.
Energy
Iran will send the first advance payment to Russia to finance the ongoing construction of the Bushehr-2 Nuclear Power Plant by the end of the year, an official site with the Russian manufacturing…
An official at the National Iranian Oil Company said it can tap into 28% of its total in-place crude oil and gas condensates, stressing the need to implement advanced oil recovery methods to boost…
Iran’s petrochemical output increased by 7% over the past six months compared to the same period a year ago, the head of production control at National Petrochemical Company said.
“Since…
The National Iranian Oil Company is set to raise gas condensate exports to meet increasing demand from foreign customers, the company's managing director said, playing down speculation about new…
Iran has told the Organization of Petroleum Exporting Countries it pumped 3.63 million barrels of oil per day in August, up 10,000 bpd from July, an OPEC source said, marking a slowdown in the…
Saudi Arabia is likely to appoint a new Organization of Petroleum Exporting Countries governor and national representative, a source familiar with the matter said. Adeeb Al Aama is expected to…
Iran and Russia broke the ground for two nuclear power plants in southern Bushehr Province in a ceremony on Saturday.
With a combined power production capacity of 1,057 megawatts, the new…
National Iranian Oil Company and China Petroleum and Chemical Corporation (Sinopec) have reached a final agreement to develop the Abadan Oil Refinery, managing director of National Iranian Oil…
The CEO of the Industrial Development and Renovation Organization (IDRO) of Iran outlined the energy roadmap for the next 10 years and said Tehran is seeking $180 billion in oil and gas…
As officials from the Organization of Petroleum Exporting Countries shuttle between Tehran, Moscow and Paris in preparation for an informal meeting in Algiers, the focus of their efforts appears…
OPEC and other producers can reconcile talks aimed at stabilizing the oil market with the prerogative of Iran, Nigeria and Libya to boost output, according to Algeria’s energy minister.
It will be too early for Iran to discuss freezing crude output when the world’s biggest producers meet later this month in Algiers, according to an official from the Iran’s state-oil company.
Oil prices edged lower on Friday but were set for the first weekly gain in three weeks after jumping 4% a day earlier due to a surprisingly large drawdown in US crude stocks.
Algeria’s energy minister was scheduled to meet his Saudi counterpart and OPEC’s secretary-general in Paris on Friday as part of moves toward clinching a global deal on stabilizing crude output to…
Polish refiner Lotos is poised to sign a long-term oil deal with Iran after receiving its first supplies from OPEC’s No. 3 producer last month, the deputy head of Lotos said on Thursday.
…
Plans are underway to build new power plants with distributed generation (DG) system and a capacity of 4,000 megawatts during the sixth five-year economic development plan (2016-21).
Iran is struggling to reduce water consumption in the agricultural and energy sectors despite a marked rise in its water reserves, data published this week by the Energy Ministry showed.
Iran’s Association of Petroleum Industry Engineering and Construction Companies (IRAPEC) has defended the general structure of the new oil and gas contractual framework, aka Iran Petroleum…
Japan’s electricity wholesaler Electric Power Development said on Friday it has pushed back the projected commercial start of its first nuclear power plant by two years to 2024/25, reflecting a…
Oil analysts are dusting off their favorite output statistics to figure out how much more crude Iran must pump before it hits pre-sanctions production levels, potentially triggering its…
Iran plans to launch the long-awaited new upstream oil and gas contracts, aka Iran Petroleum Contract, at a three-day international conference in Tehran scheduled for January 30.
Iran has exported 20.3 billion cubic meters of natural gas over the past three years, 13.6% more than its total exports during former president Mahmoud Ahmadinejad’s second term in office from…
According to the Customs Service of Armenia, natural gas imports from Iran increased by 1.2% to 186.5 million cubic meters while imports from Russia declined by 27.3% from 1.125 billion cubic…
President Hassan Rouhani says he supports efforts by the Organization of Petroleum Exporting Countries to stabilize oil prices, while reiterating that the country must restore production lost…
