Energy

Oil prices tumbled 4% on Friday on signs that OPEC producers were making little progress in achieving preliminary agreement ahead of talks by major crude exporters next week aimed at freezing…

The global power metering market is projected to reach $17.8 billion by 2020, at a compound annual growth rate of 8.9% from 2015 to 2020. Asia-Pacific is the largest market for power meters, said…

French oil major Total said Thursday it would trim back costs and investment in 2017-2018 in the face of continued low oil and gas prices.

Total said it would cut annual investment to…

Saudi Arabia has offered to reduce oil production if rival Iran agrees to cap its own output this year, in a major compromise ahead of talks in Algeria next week, three sources familiar with the…

The oil industry may be ready to open its wallet after two years of slashing investments. Companies will spend 2.5% more on capital expenditure next year than they did this year, the first yearly…

Indonesia's state-owned oil and gas company Pertamina said it expects to receive on September 26 the first shipment of liquefied petroleum gas (LPG) from its Iranian counterpart the National…

Foreign firms can submit their documents to the National Iranian Oil Company as of next week to qualify for bidding in oil and gas tenders, Ali Kardor, NIOC's managing director said.

Renewable energy, water quality enhancement and wastewater treatment and recycling initiatives were discussed in a meeting between Iran's Energy Minister Hamid Chitchian and the Danish…

Iran's Roham Refinery complex in East Azarbaijan Province is in negotiations with an unnamed Austrian company on developing its second phase, head of the board of the refinery said.

Over $68.2 billion has been invested in Azerbaijan’s oil and gas sector from 1995 till 2016 as part of the production sharing agreements, said Rovnag Abdullayev, president of Azerbaijan’s state…

An oil tanker left the Libyan port of Ras Lanuf for Italy early on Wednesday with the first crude export cargo from the terminal since at least late 2014, the port manager said.

He said a…

Nigeria is suing several leading oil companies for $12.7 billion of crude oil that allegedly was exported illegally to the United States between 2011 and 2014, officials said Tuesday.

Switzerland’s MECI Group International has signed an agreement with the Iranian government to build a €750 million ($839 million) wind farm.

The project, located in the…

Iran is committed to building a consensus on stabilizing the oil market between OPEC and non-member countries, the group’s new Secretary-General Mohammed Barkindo said.

Iran's natural gas export has reached 32 million cubic meters per day, the managing director of National Iranian Gas Export Company said on Wednesday.

“In line with plans to increase gas…

Iran has attracted billions of dollars in foreign investment in petrochemical projects after the agreement over the disputed nuclear program last year, with the Chinese making the biggest…

Japan signaled on Wednesday it would scrap a costly prototype nuclear reactor that has operated for less than a year in more than two decades at a cost of 1 trillion yen ($9.84 billion).

Oil prices edged lower on Tuesday ahead of an expected build in US crude oil stocks and on Venezuelan comments that the oil market remains oversupplied by 10%.

Siemens has shipped the first F-class gas turbine for a power project in Bandar Abbas, only six months after signing an agreement with MAPNA Group, an Iranian engineering and construction…

First Vice President Es’haq Jahangiri said petrochemicals account for one of the main non-oil exports, underlining the need to remove hurdles on the road to expand exports.

Saudi Arabia's oil exports rose in July as the kingdom pumped record high levels of crude, keeping the global market well supplied.

High and rising production costs in joint offshore oilfields notwithstanding, their development tops National Iranian Oil Company's priority, the company's managing director said on Tuesday.

India is set to buy 6 million barrels of Iranian crude for its strategic oil reserves as negotiations with the United Arab Emirates' national oil company for supplies are stuck over commercial…

Oil Minister Bijan Namdar Zanganeh discussed developing two Iranian oilfields by Russia’s Lukoil in a meeting with Vagit Alekperov, the company’s chief executive director in Tehran.

French gas and power group Engie plans to cut about 1,150 jobs in various support functions and the firm's liquefied natural gas (LNG) business is set to book a full-year loss after making losses…