The parliament's integration committee authorized the oil ministry to sell 50,000 billion rials ($1.9 billion) in fixed rate participation bonds in order to invest in development of joint oil and…
Energy
Bandar Abbas refinery, in the southern Hormozgan Province, will produce six million liters of gasoline and eight million liters of diesel compliant with Euro-5 standards in the second of half…
A total of $33.6 billion was generated through the sale of crude oil, natural gas, and gas condensate in the first half of the current year (March-August 2014), Tasnim news agency reported…
Sasol Ltd. delayed its decision on whether to build the US’s first gas-to-liquids plant as the South African company announced plans to mitigate against lower oil prices. The facility, to be…
State-owned China National Petroleum Corporation (CNPC) saw the nation's oil demand rising to 10.68 million barrels per day (bpd) in 2015, some 310,000 bpd or 3 percent higher than last year…
Through a consortium, Mellat Bank, Tejarat Bank, and Bank of Industry and Mine (BIM) will cooperate to provide the required finances for Damavand petrochemical project, Shana reported.
The Russian economy will run without a deficit only if oil prices stay above the $70 per barrel mark by 2017, Russia's finance minister said Tuesday. "We will conduct a careful budget policy and…
Egypt's state gas board has awarded a $2.2 billion tender to import 75 cargoes of liquefied natural gas (LNG) to four international firms, its chairman said, as the country seeks new energy…
Construction of the 4th fixed steel jacket for South Pars gas field's Phase 12, with a length of 84 meters and 4,200 tons of weight, has been carried out successfully in 16 months, the oil…
Next year's budget has been formulated irrespective of possible fluctuations in foreign exchange rates and oil prices, stipulating 537 trillion rials ($20.1 billion) in revenues from exports of…
The National Iranian Gas Company (NIGC) invited Iranian and foreign investors to take part in construction of small and medium-size LNG plants, the company's gas distribution manager said Tuesday…
Energy giant BP said Tuesday it was freezing global salaries following a sharp drop in oil prices, less than a fortnight after announcing 300 job cuts in the North Sea.
"We informed staff…
Petrobras’ refineries increased oil processing by 34,000 barrels per day in 2014, its sixth consecutive annual record for oil processing.
Besides the increased processing at distillation…
French power consumption hit a 12-year low last year as mild weather, a sluggish economy and energy-saving measures cut use, the country’s grid operator said, Bloomberg reported.
Saudi Aramco will renegotiate some contracts and postpone some projects due to falling oil prices, the head of Saudi Arabia's state oil company said on Tuesday, TradeArabia reported.
Ukraine is actively using gas from underground storage facilities, with its volume falling 0.56% by January 24 to 9.709 billion cubic meters, the Ukrainian National News (UNN) agency reported on…
The entire Iranian oil tanker fleet traveling across international waters is now covered by domestic insurance companies, head of the Central Insurance of Iran said.
The country will no longer need to import gasoline upon completion of the Persian Gulf Star (Setareye Khalij Fars) Refinery, First Vice-President Es'haq Jahangiri said during his visit to the…
Gas production from South Pars gas field will surge by 120 million cubic meters per day before the end of the current Iranian year (ends March 20), IRNA reported Monday.
The continued oil plunge is inflicting a monthly loss of 900,000 rials ($25.7 at market rate) on Iranian citizens, a figure which is twice the per capita cash subsidy they receive monthly from the…
Daily gas pipeline transport capacity has increased by 100 million cubic meters after a new compressor station went online this week, manager of the 10th Gas Transfer District said Monday.
Fracking shale for oil and gas should be put on hold in the UK because of risks to public health and the environment, a panel of lawmakers said, Bloomberg reported.
Despite a small increase in oil production and exports following the 2013 Geneva interim agreement, a further increase of Iranian crude production and exports can only result from an easing or…
Venezuelan state oil company PDVSA's consolidated financial debt rose 6.3 percent in 2014 compared with the previous year to reach $46.2 billion, a figure that does not include debts to providers…
Yemen declared force majeure on liquefied natural gas (LNG) deliveries from its Balhaf plant as the security situation in the country deteriorated following the government’s collapse, Arabian…
