Ukraine’s Naftogaz press service said on Saturday the company has transferred $378 million to Russia’s Gazprom as advance payment for Russian gas, Itar Tass reported.
Energy
The price of energy carriers will increase by 30 to 40 percent in the coming year (starting March 21, 2015), in view of the fact that the government will not cut subsidies, said a member of the…
Ninety eight percent of major electricity equipment is manufactured by Iranian companies, director of distribution coordination at the Iran Power Generation Transmission & Distribution…
Russia and Slovakia signed a framework agreement on Friday for a new oil supply deal, Itar Tass reported.The new deal provides for annual pumping of up to six million tons of oil to Slovakia via…
Norway plans to boost the financial firepower of state-owned energy group Statkraft by $1.4 billion to support its renewable power expansion at home and abroad, Reuters reported. Statkraft is…
One thousand tanker trucks were produced by domestic companies and joined the transportation fleet of the National Iranian Oil Production and Distribution Company (NIOPDC), managing director of…
The deepest well in phase one of the South Pars gas field has been drilled at a depth of 5000 meters, said the deputy managing director of National Iranian Drilling Company (NIDC).
The well…
A sharp drop in global oil prices which was intensified last week with the decision by the Organization of Petroleum Exporting Countries (OPEC) to maintain its 30-million-barrel-a-day production…
Prices of petrochemicals, especially mazut as a major export item have decreased due to falling oil prices, chairman of the Iranian Oil, Gas and Petrochemical Products Exporters' Association (OPEX…
The first waste-to-energy (WtE) plant will go on stream this year (ending March 2015) with the help of Chinese finance, the managing director of the Renewable Energy Organization of Iran (SUNA)…
Global oil and gas exploration projects worth more than $150 billion are likely to be put on hold next year as plunging oil prices render them uneconomic, potentially curbing supplies by the end…
Iran has laid 90 percent of its share of the Iran-Pakistan (IP) gas pipeline, with 250 kilometers of the pipeline remaining to be laid within the Pakistani border, Pakistani oil minister Shahid…
Saudi Arabia would only consider cutting production if other countries, including non-OPEC producer Russia, joined in limits, former Saudi intelligence chief Prince Turki bin Faisal said.
The deputy oil minister for engineering affairs, Seyed Emad Hosseini, announced the uniformity in terms for domestic and foreign contractors to take part in oil tenders.
In a recent…
Germany’s biggest utility E.ON — long a pillar of the country’s fossil fuel and nuclear industry — dropped a bombshell on Europe’s business world with the announcement that the multinational was…
Construction of two power plants with a total production capacity of 735 megawatts of electricity commenced on Tuesday, December 2, in the Persian Gulf Special Economic Industrial and Mining Zone…
Daily gas usage has increased by 35 percent across the country compared to last year. Gas consumption during colder periods has remained steady, however, eliminating the need to cut gas supplies…
The ‘take or pay’ clause has not been removed from Iran’s contract to export gas to Turkey, deputy oil minister said, also noting that no agreement was reached between the two countries for an…
The first official line of credit (LOC) for the petrochemical industry was opened by Chinese financers, with an additional four to be opened soon, the deputy oil minister announced.
Parliament has ratified an amendment whereby the National Iranian Oil Refining and Distribution Company (NIORDC) will acquire 20 percent of diesel prices by way of duties for road maintenance…
India's Bharat Petroleum Corp (BPCL) on Wednesday said it will invest 741.44 million to diversify into the petrochemicals business, Reuters reported. The state-owned company will produce…
Ukraine plans to raise transit tariffs on the southern spur of the Druzhba pipeline and denominate the prices in euro, Itar Tass reported. The 5,327 km Druzhba oil pipeline, also known as the…
First batch of gas from Phase 16 in the South Pars field in the Persian Gulf was injected into the national gas pipeline, director of phases 15 and 16 said, IRNA reported Monday.
Reza…
French oil major Total said it had struck oil and gas near the city of Arbil in the autonomous Kurdistan region of Iraq, its second discovery in the Harir block in two years, TradeArabia reported…
Japanese buyers of liquefied petroleum gas (LPG) are holding off on increasing term supplies from the United States following a plunge in oil prices that has made US LPG more expensive than Middle…
