Azerbaijan's state energy company SOCAR reported a 1.785 billion manat ($1.15 billion) net loss for 2015, compared to a net profit of 1.274 billion manat a year earlier, the company said on Friday…
Energy
Imports of Iranian oil by four major buyers in Asia in May jumped 34.5% from a year ago to the highest in at least 4-1/2 years, reflecting Tehran's aggressive moves to recoup market share lost…
An unnamed Belgian company has agreed to construct a 600-megawatt power plant in East Azarbaijan Province, the deputy head of East Azarbaijan Investment Services Center announced.
“The…
A supertanker with Iranian crude is heading toward Poland's Baltic Sea port of Gdansk, trade sources said and ship-tracking data showed, as Iran continues to win back market share after the…
A new entity should be established to regulate and coordinate the petrochemical exports of Iranian companies that claim a bigger stake in foreign markets following the removal of trade…
OPEC's oil output has risen in June to its highest in recent history, as Nigeria's oil industry partially recovers from militant attacks and Iran and Persian Gulf members boost supplies.
The National Iranian Drilling Company is accelerating operations to complete the drilling of wells at four joint oil and gas fields in the south and southeast of the country with the help of…
Contractors have cut back the drilling of oil in Venezuela amid a rising unpaid debt owed to suppliers by the Latin American country’s government and state-owned producer PDVSA.
As…
Siemens has said the UK's decision to leave the European Union will mean its plans to export wind turbine blades from the country and its new plant in northeast England will be put on hold, CNBC…
Iran posted a year high of 47,989 megawatts in electricity consumption on Tuesday, as the country prepares for higher electricity demand in a sweltering summer.
The rise in demand comes as…
Saudi Arabian Oil Company is leading an upsurge in borrowing by energy companies in the Middle East, as they turn to banks and investors for cash after a slide in crude prices eroded their ability…
Iran needs to turn to foreign technology and investment to accelerate the growth of its burgeoning oil industry and reignite its sanctions-hit economy, Iran's first deputy for OPEC affairs said in…
The construction of infrastructures for the exchange of electricity with Azerbaijan has been completed and Iran can start power swap operations with its northern neighbor this summer, Iran’s…
Saudi Arabian Oil Company and Saudi Basic Industries Corp. are one step closer to building their first plant to process crude directly into chemicals, cutting out a costly intermediate link…
Iran on Tuesday reappointed a former managing director of its Swiss-based trading company as part of a broader reshuffle aimed at bolstering oil exploration and exports.
Majid Hedayatzadeh…
The UK’s North Sea oil and gas industry, already reeling from low prices and high costs, now faces a worsening investment drought as the nation’s decision to quit the European Union looks set to…
Oil exports from Iraq's southern ports have averaged 3.162 million barrels per day so far this month, down slightly from May due to maintenance work and rising demand for fuel oil used in power…
The production of 600,000 barrels of oil per day from Maroun, Koupal and Shadegan Oilfields is high on Marun Oil and Gas Production Company's agenda, director of MOGPC said on Tuesday.
The National Iranian Oil Production and Distribution Company has signed five memoranda of understanding on research projects with domestic universities and scientific centers in the past three…
The recent gains of the Iraqi Army against the self-styled Islamic State militants can propel the export of Iran's natural gas to the war-stricken Arab country after years of regional insecurity…
The founding family of Japanese refiner Idemitsu Kosan Company opposes a merger with rival Showa Shell Sekiyu KK because of the latter’s close ties with Saudi Arabia.
India's Essar Oil, the top Indian buyer of Iranian crude, imported 49.7% more Iranian oil in May compared with a year ago, according to tanker arrival data obtained from trade sources and ship-…
Iran is planning to get a share of Georgia’s oil byproduct market and open a new gateway to Europe.
“Georgia can be an export gateway to Europe,” Amir Vakilzadeh, director of import and…
Iran Power Generation, Distribution and Transmission Company (Tavanir) has devised plans to increase electricity production from power plants with distributed generation (DG) system to 900 MW in…
Russia and China sealed a raft of energy deals during President Vladimir Putin's visit to Beijing last week.
