OPEC's oil output in December fell from a record high ahead of a deal to cut production, a Reuters survey found on Thursday, helped by attacks on Nigeria's oil industry and top exporter Saudi…
Energy
iran energy news, Read the latest news about Iran’s oil and gas sector, renewable energy, electricity, water, and drilling industries.
China's Iranian crude oil imports may rise to a record this year as state-owned oil firms lift more crude through their upstream investments while extending their current supply contracts, senior…
Saudi Aramco has started talks with customers globally to discuss possible cuts of 3% to 7% in February crude loadings to comply with OPEC production cuts, four sources with knowledge of the…
Tehran has finalized an agreement worth $2 billion (2.3 trillion won) with South Korea's Daelim Corporation to renovate and expand a refinery in Isfahan Province, head of the National Iranian Oil…
Philippines' state oil company is in negotiations with the National Iranian Oil Company to resume crude imports, said a member of the Philippines National Oil Company (PNOC) board of directors.
Tehran will not backpedal on an agreement with the Turkish energy company Unit International for the construction of seven power plants, Mohsen Tarztalab, the managing director of Iran's Thermal…
Oil Minister Bijan Namdar Zanganeh on Thursday broke ground on a $52 million (2.1 trillion rials) pipeline project to connect Tabriz Petrochemical Company in East Azerbaijan Province to Miandoab…
The National Iranian Gas Company released a statement on Wednesday saying that it will appeal to the International Court of Arbitration (ICA) regarding a dispute with Turkmengaz—the national gas…
Japan’s Inpex Corporation has opened negotiations with the National Iranian Oil Company to develop Azadegan Oilfield in southwestern Iran, the chief executive of Iran's Petroleum Engineering and…
The world's largest oil trader, Vitol, has clinched a deal with the National Iranian Oil Company to loan it an equivalent of $1 billion in euros guaranteed by future exports of refined products,…
Global oil and natural gas prices are expected to remain volatile again in 2017, but fluctuate within the $40-60 per barrel range, Moody’s Investors Service said in a press release on Tuesday.
Libya, the holder of Africa’s biggest crude reserves, is ramping up output from its biggest oil field again after two years of internal conflict, the latest reminder of just how vulnerable OPEC’s…
Shale gas deposits have been found in Lorestan Province, about 500 kilometers southwest of Tehran, an official at the National Iranian Oil Company said.
"We are certain of a shale gas…
The Research Institute of Petroleum Industry is planning to cooperate with Delft University of the Netherlands to boost oil recovery rate in Ahvaz Oilfield in the oil-rich Khuzestan Province, said…
Petrochemical facilities in Iran are up and running, an official at the National Petrochemical Company said, stressing that the plants have faced no shortage of feedstock despite the suspension of…
Iran has suspended power supply to Iraq since the beginning of 2017 after its electricity export contract with the Arab neighbor ran out at the end of last year, a top energy official said on…
Tehran is expected to hold the first international tender to develop its oil and gas fields later this month, Ali Kardor, the head of National Iranian Oil Company said.
"The first oil…
Oil prices hit 18-month highs on Tuesday, the first trading day of 2017, buoyed by hopes that a deal between OPEC and non-OPEC members to cut production, which kicked in on Sunday, will drain a…
Solar power is now cheaper than coal in some parts of the world. In less than a decade, it is likely to be the lowest-cost option almost everywhere.
Russian oil production in December stood unchanged at 11.21 million barrels per day, flat month on month and at its highest in almost 30 years, energy ministry data showed on Monday.
Russia…
There is a wide variety of opinions on whether or not OPEC will deliver on its promised cuts of 1.2 million barrels per day, and a lot hangs in the balance.
An explosion occurred at a gas pipeline near Azerbaijan's capital Baku early on Monday, the country's emergencies ministry said, the second such incident in a week. The explosion hit the Baku-…
The government is obliged to curb the flaring of natural gas to 10% or lower by 2021, according to a law passed by the Majlis on Sunday.
The measure was part of a slew of ratifications by…
Export of petrochemicals will exceed 20 million tons by the end the current fiscal (March 2017), Farnaz Alavi, a member of the board of the state-run National Petrochemical Company, said Monday.…
Strategic stockpiles of diesel and mazut to be used as alternative fuels to run thermal power plants in northern provinces has increased considerably compared to last year, managing director of…
