Iran slightly boosted its crude production last month ahead of a supply-cut deal that came into force on Jan. 1, OPEC said in its monthly report this week.
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A 230/63-kilovolt power substation went on stream in the southeastern province of Sistan-Baluchistan last week in the framework of plans to boost electricity exports to Pakistan,
According…
The oil output cut deal last year between the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries will stabilize the oil industry and the global economy, providing short-,…
Oil-price gains will trigger a “significant” increase in US shale output as OPEC and other producers rein in supply, according to the head of the International Energy Agency.
“US shale-oil…
OPEC oil production fell in December but remains well above levels envisaged under a recent deal that took effect in January, the organization's monthly report showed on Wednesday.
Total…
Saudi Arabia has promised it will reduce the overall tax rate paid by its national oil company to make its 2018 initial public offering—potentially one of the largest in history—more appealing to…
Sri Lanka wants to draw on Iranian expertise in offshore drilling following their recent oil exploration and discoveries in the Indian Ocean, said Mansour Bazmi, deputy for the downstream sector…
An increasing number of oil tankers and vessels owned by the National Iranian Tanker Company are headed to European ports, the company's managing director Sirous Kianersi said on Wednesday.
The European Union has eased sanctions against several Iranian entities, mostly in the energy sector, and one individual, EU said in a statement on Tuesday, a year after the nuclear deal between…
National Iranian Oil Company and China Petroleum and Chemical Corporation (Sinopec) will finalize a contract to expand the Abadan Oil Refinery in southern Khuzestan Province in two phases,…
The National Petrochemical Company is looking into ways to capture and convert harmful carbon monoxide (CO) emissions into urea and ammonia, said the managing director of NPC, Marzieh Shahdaei.…
Global shipping insurers have devised a way to ensure nearly full coverage for Iranian oil exports from next month after striking a deal to provide cover without involving US-domiciled reinsurers…
Iran's oil and gas condensates tanker traffic in the Persian Gulf terminals has risen by 50% compared to last year, managing director of Iran Oil Terminals Company (IOTC) said on Tuesday.
"…
Tehran is keen on raising crude oil output and expand its footprint in the global market despite being part of a pact that took effect this month to cut oil supplies, said Saeed Khoshrou, National…
OPEC’s campaign to prop up oil prices is getting unlikely support from its biggest customer. China’s production is forecast to fall by as much as 7% this year, extending a record decline in 2016,…
Oil production in Asia-Pacific is declining at a rate not seen elsewhere in the world, with around half of losses coming from China alone, Wood Mackenzie has warned.
"We estimate 2016…
Japan's Inpex Corp said on Monday it had agreed with Abu Dhabi National Oil Co. (ADNOC) to extend its holdings in the Satah and Umm Al-Dalkh offshore oilfields in Abu Dhabi by about 25 years. The…
Oil prices slipped on Monday, pressured by doubts that large oil producers will reduce production as promised and on expectations that US production would increase again this year.
OPEC probably will not need to extend a deal it reached with other crude producers to cut output, given the level of their compliance with the reductions and the outlook for an increase in global…
Jordan plans to award 300 megawatts of renewable energy projects by the end of this year, according to Ziad Jibril Sabra, assistant secretary general in the ministry of energy. Four solar projects…
Iran will earn $41 billion from oil and gas condensate exports by the end of the present fiscal year in March, Oil Minister Bijan Namdar Zanganeh said on Monday.
The National Iranian Oil Company would welcome the formation of an international consortium of British, Japanese and French firms to develop Azadegan Oilfield in southwest of Khuzestan …
Facilities to increase supply of crude oil from the southern oilfields to an export terminal in the Persian Gulf region are being expanded, it was reported on Monday.
Global oil prices will witness "much more volatility" in 2017 even though markets may rebalance in the first half of the year if output cuts pledged by producers are implemented, the head of the…
Rome-based utility owner Enel SpA is targeting renewables projects in Saudi Arabia and the United Arab Emirates as oil-rich Persian Gulf Arab countries take advantage of the falling cost of solar…
