BP has started producing oil from its Kinnoull field in the central North Sea, the oil major said on Tuesday, bringing on stream a new field that feeds into BP's existing Andrew platform off the…
Energy
Gazprom has agreed to buy its European partners Wintershall, EDF and Eni out of the scrapped South Stream gas pipeline project, Itar Tass reported. Thus, Gazprom will be a 100% owner of the…
More than 75 percent of the country's energy needs are met through natural gas, the heating value of which equals approximately four million barrels of oil per day, the managing director of the…
Petrochemical production capacity is planned to reach 180 million tons by 2022, managing director of the National Petrochemical Company (NPC) said Monday, Shana news agency reported.
Storage capacity of petroleum products will increase by 540 million liters upon the completion of three storage units, deputy of the National Iranian Oil Refining and Distribution Company (NIORDC…
The first gas-powered unit of the Kahnuj Combined Cycle Power Plant with 162MW capacity in Kerman Province came on stream on Monday, Fars news agency reported.
Despite the world's largest gas reserves, Iran is placed 12th in terms of gas exports, thanks to poor management and indifference of authorities. Those in charge in Tehran over the past four…
Brent for February settlement gained 65 cents to $60.10 a barrel on the London-based ICE Futures Europe exchange on Monday. The contract declined 79 cents to close at $59.45 on Dec. 26, capping a…
China's state-owned Sinopec Group, parent of Sinopec Corp, said on Monday that falling oil prices have no major impact on its plans for natural gas development. The company will continue expanding…
Russia may help OPEC to prop up global oil prices by slightly cutting exports in favor of domestic refining, its ex-energy minister and a former negotiator with OPEC, Igor Yusufov, told Reuters.…
In just the last three months, oil prices have fallen by 40% to their lowest levels since the financial panic of 2008-2009. Citigroup estimates this might provide the global economy with…
Daqing Oilfield, the largest oilfield explored by China's major oil and gas producer PetroChina, is expected to reduce its production starting 2015, as reported by Xinhua News…
The oil price decline of 2014 upended the geopolitical chessboard. Worth watching in 2015 will be who can recover and dominate play -- OPEC, Russia, or US shale drillers.
Algeria's oil revenues was estimated at $60 billion by the end of 2014 against $62 billion in 2013, meaning a $2 billion year-on-year shortfall, Minister of Energy, Youcef Yousfi said Saturday,…
Global oil traders are likely to store crude in tankers next year, as a widening contango makes large-scale storage at sea profitable for the first time since the financial crisis more than five…
Construction of the Meghri Dam on the Aras River near the Iran-Armenia border will commence within 2 months, managing director of the Iran Water & Power Resources Co. (IWPCO) said, ISNA…
Energy imports could sharply increase by 2025 if the current trend of consumption continues, managing director of the Iranian Fuel Conservation Company (IFCO) said Sunday.
Nosratollah Seifi…
More than 60 billion liters of petroleum products was consumed in the past nine months, the National Iranian Oil Refining and Distribution Company (NIORDC) said in a report published on Sunday.
South Korea's nuclear power operator said on Sunday that cyberattacks on non-critical operations at the company's headquarters are continuing but the country's nuclear power plants are operating…
A fire at an oil storage tank at Libya's Es Sider oil port has spread to two more tanks, TradeArabia quoted officials as saying. The first oil tank was hit during clashes between armed factions…
Russia has agreed on a new deal to supply coal and electricity to Ukraine, which is struggling with a lack of raw fuel for power plants due to a separatist conflict in the industrial east, Russian…
China will cut retail prices for gasoline by 520 yuan ($84) per ton and for diesel by 500 yuan ($81) per tonne from Saturday, on falling world oil prices, the powerful economic planning agency…
Natural gas slumped below $3 per million British thermal units in New York for the first time since 2012, Bloomberg reported. Futures settled at the lowest in 27 months and have plunged 26 percent…
There will be no increase in the price of gasoline for private car owners in the next Iranian calendar year (March 2015-16), Mehr news agency reported.
Iran has overtaken Qatar in number of drilling rigs as seven more of its offshore platforms and 14 gas sweetening units have become operational.
There are 17 drilling rigs operating…
