The energy industry is still pumping more oil than the world can consume, and is facing a medium-term future that is far less profitable than its recent past, the International Energy Agency warns…
Energy
Iran’s first mini oil refinery, for primary processing of hydrocarbon raw materials, has become operational in the southwestern city of Khorramshahr, Shana news agency reported.
It was…
The energy bourse recorded over 11.2 billion rials worth of electricity transactions on Tuesday, the energy ministry reported. According to Shana, the total volume of electricity trade surpassed 1…
The recent slump in oil price is a “complicated issue” and, thus, “it can’t be resolved overnight,” oil minister Bijan Namdar Zanganeh said Wednesday, ISNA reported. “Part of the problem, however…
Iraqi oil production grew at a faster rate than any country apart from the United States, according to analysis from the US Energy Information Administration.
"Despite some supply…
South Australia, home to one of the largest uranium deposits in the world, will conduct an inquiry into the potential benefits and risks of establishing a nuclear industry there, the state…
Norwegian energy firm Statoil found up to 82 million barrels of oil equivalents in a North Sea prospect, more than earlier thought. The prospect, near the Oseberg South field, is now thought to…
Plans to reduce compressed natural gas prices aimed at increasing CNG consumption across the country are being technically assessed, managing director of the National Iranian Oil Refining and…
Tariff cuts on imports could benefit Iran's Customs Administration and therefore the economy, a top official said on Monday, arguing that the policy would also discourage smuggling activities.
Diversifying the use of energy resources is one of the main objectives of the energy ministry, and it is promoting private investment to meet this end, deputy energy minister, Houshang Flahatian,…
Export of gas condensate from the South Pars gas field's Phase 12 surpassed 9.3 million barrels after the eighth cargo of the commodity, containing 850,000 barrels, was exported recently, ISNA…
Abu Dhabi National Oil Co. is seeking final bids on Tuesday for concessions to the emirate’s largest onshore fields, said Abdullah Nasser Al Suwaidi, director general of the state-owned company.…
The supply of fuels to ships in the first ten months of the current Iranian year (ends March 20) exceeded three million tons, Shana news agency reported Monday.
OPEC cut forecasts for global oil-supply growth in 2015 as US producers lead a slowdown in drilling after last year’s price collapse, TASS reported.
The Organization of Petroleum Exporting…
In a country blighted by power cuts and poor infrastructure – and struggling under the impact of the Syrian war across its border -- Lebanon is hopeful that untapped oil and gas reserves may offer…
Gazprom and Turkey have agreed the Turkish Stream’s on-ground passage for further exploration, Gazprom’s CEO Alexei Miller told reporters while commenting on his visit to Turkey.
"We have…
A deepsea natural gas discovery in the northern part of the South China Sea has certified proven reserves exceeding 100 billion cubic metres, making it one of China's biggest offshore finds,…
The Bodo community in the Niger delta will get $84 million to settle claims of environmental pollution by the Nigerian subsidiary of Shell, the Anglo-Dutch oil giant. Despite the relatively large…
A total of 13 agreements on transfer of technical knowledge were signed with the private sector over the past two years, said the managing director of Petrochemical Research and Technology…
Restoration of two dilapidated oil turbines by Iranian experts has saved the country $6 million in hard currency, deputy managing director of Iranian Oil Pipelines and Telecommunication…
Khalij-e-Fars floating oil storage unit (FSU), with capacity of 2.2 million barrels of oil, was officially inaugurated on Sunday, helping expedite oil storage and export operations.
The ministry of science, research and technology has signed an agreement with the National Iranian Oil Company (NIOC) aimed at providing universities and research institutes with scientific data…
Upgrading facilities, including Pier T (long beach container terminal), at Kharg Oil Terminal has helped raise the facility's export capacity by 70,000 barrels per day, managing director of Iran’s…
The oil and gas research centers of Iran and the Azerbaijan have signed a cooperation agreement, ISNA reported Sunday. The agreement was signed in Baku by Amir Abbas Hosseini, deputy director of…
Abu Dhabi Gas Industries (Gasco) has awarded Spain’s Tecnicas Reunidas a $700 million contract for a natural gas project in Abu Dhabi, TradeArabia reported. The contract covers part of Gasco’s…
