OPEC has lost its competence, as it failed to stabilize oil prices at the last meeting, according to Bank of America. It warns oil will slide to $50 a barrel leading to wild prices, where only…
Energy
The gas pipeline connecting the Republic of Crimea with the Krasnodar Territory of Russia will be laid under the Kerch Strait in 2018, Minister of Fuel and Energy of Crimea Sergei Yegorov said at…
The first of four reactors to be built at the Barakah nuclear plant is 61 per cent complete, and on course to be completed by 2017, according to Reuters.
The project, which is valued at $…
Iran’s budget bill for the next Iranian fiscal year (starting March 21, 2015) authorizes the four principal companies affiliated to the ministry of oil to issue foreign…
Given that output of ethane feedstock for ethylene production is set to increase in South Pars gas field, four new petrochemical projects will be launched via ethylene pipeline routes in the west…
Subsidized gasoline may be halted during the coming year, enabling it to be offered at a unified price, said a member of parliament.
Export of Iranian crude to Pakistan will resume after three years, pursuant to the agreement between the two countries’ ministers, Mehr news agency reported Wednesday.
Oil Minister Bijan Namdar Zanganeh rejected assertions by the Russian economy minister that an agreement has been reached between the two counties to barter oil in return for goods, Mehr news…
Petrochemical and petroleum products close to 446,000 tons were offered at the Tehran Stock Exchange bourse on Wednesday, Shana reported.
Saudi Arabia, the world's top crude exporter, will keep supplies at full contracted volumes for Asian term buyers in January, industry sources said, the latest sign the kingdom is holding firm…
The Russian Direct Investment Fund will team up with an Indian partner to invest $1 billion in hydroelectric projects in Asia's third-largest economy, the head of the Russian state fund told…
Brent and West Texas Intermediate rebounded from the lowest closing levels in more than five years amid signs that US oil producers were curbing investment as price competition intensified between…
Russia resumed gas flows to Ukraine on Tuesday after halting them six months ago in a dispute over prices and unpaid debts, Ukraine's gas transport monopoly said.
Iraq will sell its Basrah Light crude next month to customers in Asia at the steepest discount in at least 11 years, following Saudi Arabia’s lead as Middle East producers seek to defend…
Consumption of compressed natural gas (CNG) is on the decline despite rapid growth in the recent past, secretary of the Iran CNG Guild said, ILNA reported Tuesday.
"Promotion of CNG is an…
Iran’s 13 year long dawdling over Esfandiar oilfield and Saudi Arabia’s increased extraction from the field, has ultimately made production unfeasible for Iran, Tasnim news agency cited the field’…
While admitting its failure to complete Iran-Pakistan gas (IP) pipeline project on time, Pakistan reaffirmed its commitment to the visiting Iranian minister to complete the project in two phases…
Lukoil, the Russian oil and gas company has officially announced its intention to resume operations in Azar and Changuleh fields in Ilam Province, and a meeting has been held between officials of…
Britain's Centrica has made a small gas discovery northeast of the Aasta Hansteen field in the Norwegian sea, the Norwegian petroleum directorate was quoted by Reuters as saying. Preliminary…
Iran reached an agreement to receive its oil dues from Nicaragua in installments, Energy Minister Hamid Chitchian said in a meeting with the Nicaraguan foreign minister. Chitchian did not to…
Global energy demand is expected to increase by 60 percent until 2040, with fossil fuels remaining the main source, Bahrain energy minister Abdulhussain bin Ali Mirza said Sunday, TradeArabia…
The investments in projects designed to supply Azerbaijani gas to Europe will reach $45-$48 billion, Rovnag Abdullayev, president of the Azerbaijani state energy company SOCAR made the remark at…
Business leaders from Germany visited Tehran to explore areas of cooperation, especially in the energy sector, Iranian ambassador to Germany said, IRNA reported Monday.
Up to 50 projects valued at $40 billion will be offered at the London seminar in which Iran's new petroleum contracts will be unveiled for the first time, a senior official at the National Iranian…
Funds will be allocated for production of 75 million cubic meters of gas and 90,000 barrels of oil in the South Pars field in the next Iranian calendar year (March 2015-2016), head of the…
