Energy

Oil markets steadied on Tuesday, supported by firm demand but weighed down by high supplies from OPEC and producers in the United States.

Benchmark Brent crude was up 20 cents at $48.62 a…

Oil rose above $49 a barrel on Monday, as a slowdown in the growth of rigs drilling in the United States eased concern that surging shale supplies will undermine OPEC-led cuts.

Domestic gasoline consumption has reached an average of 83 million liters per day in the past three weeks, the deputy head of National Iranian Oil Refining and Distribution Company said. "Although…

Saudi Arabia, the world’s biggest exporter of crude oil, moved a step closer toward the construction of its first utility-scale wind power project.

The National Iranian South Oil Company and Zarubezhneft signed a memorandum of understanding on Monday allowing the state-run Russian oil company to conduct technical surveys on two oilfields in…

Gasoline and diesel prices surged in North Korea in the weeks after a Chinese state oil company suspended fuel sales to the country, according to data reviewed by Reuters and an interview with a…

Three recently discovered major gas fields are expected to raise Egypt's natural gas output by 50% in 2018 and 100% in 2020, the petroleum ministry said.

Iraq has paid $500 million to Iran over the past four months as part of its debt for importing Iranian electricity, a deputy energy minister said on Monday.

“Iraq has pledged to make more…

Japan's Toyo Engineering Corporation on Monday signed an agreement with the National Iranian Oil Company and Petropars to develop the offshore Salman oil and gas field in the Persian Gulf.

The United States has objected to a project of a Japanese consortium and Russia’s state-run oil giant Rosneft to drill for oil offshore Russia, Bloomberg reported, citing people familiar with the…

France should define a clear roadmap to fulfill its pledge to cut the share of nuclear power in its electricity generation to 50% by 2025, French ecology minister said in an interview in the…

A week after Tesla announced it had won a tender for the installation of the world’s biggest battery storage system in Australia, Siemens and AES launched a joint venture that focuses exclusively…

Iran has made no major concession to French energy giant Total S.A. for developing Phase 11 of the giant South Pars Gas Field in the Persian Gulf, the deputy head of National Iranian Oil Company…

Esfahan Oil Refinery Company’s collaboration with South Korea’s Daelim Corporation on optimizing the facility's processes will result in the production of about 8.5 million barrels of gasoline per…

State oil firm Saudi Aramco said the first phase of a new energy industrial city in Saudi Arabia will be completed in 2021.

Last week, the Saudi government said it approved Aramco's plans…

Natural gas from three new phases of South Pars Gas Field will start to flow into the national gas network by the end of next month, upon the completion of a refining facility for the three phases…

Crude oil inventories will decline at a faster pace worldwide in the second half of the year, as demand increases and OPEC members comply better with a global agreement to cut output, Kuwait’s…

Oil rose 1% on Friday as US crude producers added only two rigs in the latest week and on signs of increased Chinese demand, but trading was volatile as global supply remained strong.

Over the next seven years, Iraq will need Iranian natural gas supplies to feed its power-generation plants, because domestic gas output will not be enough, Iraq’s Minister of Electricity Qasim al-…

South Korea's crude oil imports from Iran increased 10.5% in June from a year earlier, as Tehran continued to ramp up output after international sanctions over its nuclear program were lifted.…

Iran will miss out on substantial revenues from oil and gas fields unless it raises the rate of recovery from its underground hydrocarbon reservoirs with the help of advanced technical know-how,…

Iran managed to avert an energy crisis in winter by raising natural gas supplies from reservoirs in the northeast, said the chief executive officer of East Oil and Gas Production Company.

The government hopes to sign 10 major oil and gas deals by the end of its fiscal year (March 20, 2018) after concluding a landmark deal with French energy firm Total to develop a gas project in…

Oil prices edged higher in choppy trading on Friday and were on track for solid weekly gains following positive demand signals and a reported decline in stocks.

The world’s biggest oil producers are starting to take electric vehicles seriously as a long-term threat.

OPEC quintupled its forecast for sales of plug-in EVs and oil producers from Exxon…