Kuwait will back efforts made to restore balance to the world's oil markets and eliminate a supply surplus, expecting a deal extending production cuts during the coming OPEC and non- OPEC…
Energy
iran energy news, Read the latest news about Iran’s oil and gas sector, renewable energy, electricity, water, and drilling industries.
Saudi Arabia and Russia signaled they could extend production cuts into 2018, doubling down on an effort to eliminate a supply surplus just as its impact on prices wanes.
The Philippines’ state oil company, PNOC, signed a memorandum of understanding on Monday to study Iran’s Paznan Khami and Darkhoveyn oilfields in southern Khuzestan Province.
Draeger Safety, a leading global provider of medical and safety solutions, is looking to expand its foray in Iran's petroleum industry, a company executive told the Financial Tribune.
Oil prices gave up early gains on Monday, as the market weighed news from OPEC and other producers about prolonging output cuts against data showing the recovery in US drilling had extended for a…
The first crude oil consignment from the oil layer of South Pars, the giant gas field that is shared between Iran and Qatar in the Persian Gulf, has been exported, managing director of the Iranian…
The lifting of international economic sanctions last year helped Iran cut costs for import of essential equipment for the key oil industry.
Named after a Nordic god, 'Thor' is the name of a rig that symbolizes Iceland's efforts to produce powerful clean energy. If successful, the experimental project could produce up to 10 times more…
The National Iranian Oil Company is in the final phase of talks with OMV to sign a contract to sell 40,000 barrels of oil per day to the Austrian oil and gas company, the NIOC chief said.
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Malaysian state-owned oil firm Petroliam Nasional Bhd said on Sunday its second floating liquefied natural gas facility will be operational in 2020.
Tehran Refinery signed an agreement with the Petrochemical Commercial Co. (PCC) on Saturday for producing a type of catalyst used in the production of gasoline that complies with Euro-4 emission…
Business magnate Warrant Buffett says he expects coal to decline as a percentage of railroad revenues.
"If you're tied to coal, then you've got problems," Buffet said Saturday at Berkshire…
The largest annual convention in Iran's petroleum industry, known as the Iran Oil Show, opened in Tehran on Saturday.
Conspicuous by their absence are the big names such as BP and Total.…
Japan’s Itochu Corporation signed a deal on Saturday to purchase 11,000 tons of polyethylene per month from the Persian Gulf Petrochemical Industries Company (PGPIC).
Negotiations are underway with Iraq to form a joint technical committee to decide on the development of joint oil fields with the Arab neighbor, managing director of Iranian Central Oil Fields…
It has come to this for the beleaguered oil market: a big bet that prices are about to sink to their lowest level in more than a year.
About $7 million worth of options…
Oil prices closed 1.5% higher on Friday, rebounding from five-month lows, following positive US jobs data and assurances by Saudi Arabia that Russia is ready to join OPEC in extending supply cuts…
Turkmenistan has discovered a potentially large natural gas field close to its Caspian coast, the Central Asian nation's state news agency reported on Saturday. Gas exports are the main source of…
The Oil Ministry faces no obstacles in getting paid for selling crude oil to foreign buyers, says Amirhossein Zamaninia, deputy oil minister for international affairs.
The economy will struggle if the oil industry, the engine of economic growth, does not get the long-awaited impetus after years of underinvestment.
Oil Minister Bijan Namdar Zanganeh made…
The ruling establishment will back any effort that will help Iran develop its key petroleum industry, Majlis Speaker Ali Larijani said on Saturday.
A sharp drop in the number of oil barrels Saudi Arabia loaded onto tankers in April appears to deliver what the market has been awaiting: a big decline not just in crude output, but exports.
A slew of measures are being taken to develop Iran's power industry, from promoting renewable energy to adopting emerging technologies to curb electricity consumption, according to the chief…
OPEC and other countries that agreed to cut crude production are converging on the need to extend the pact beyond June to help to clear a supply glut, Saudi Arabia's OPEC governor said on Friday…
Shell has reported higher-than-expected revenues and a doubling of profits for the first quarter of 2017 as higher oil prices buoyed the oil major after a difficult three years.
