Energy

Indian refiners have been told to prepare to deposit $700 million with United Commercial Bank in readiness for it to pass on the first installment of oil payments owed to Iran, two sources…

Iranian and Azerbaijani officials discussed the exploration and development of the Caspian Sea oil and gas fields in Baku on Thursday, in the latest rounds of talks between the two countries to…

Iran has reduced the quarterly price for its flagship crude to the lowest in three years to lure Asian buyers to lock in more term supplies next year.

The risk that oil could fall as low as $20 a barrel is rising, with a persistent surplus requiring prices to remain lower for longer to rebalance the market, Goldman Sachs said, cutting its…

China is planning to launch its oil benchmark in October, similar to Brent and WTI, striving for a more important role in establishing crude prices.

Unlike the western benchmarks, the…

Oil production from the Organization of Petroleum Exporting Countries totaled 31.26 million barrels per day in August, down 140,000 bpd from the July level of 31.4 million bpd.

This was…

Iran will revise its natural gas export contract with Iraq, raising the export target by a third.

Iranian and Iraqi high-ranking officials had approved the final draft of the contract for…

The chief executive of a small electricity company criticized the Energy Ministry for obstructing the activities of small producers and patronizing the government's monopoly.

Iman Qahari…

Gaining advanced technologies and ensuring proper management of Iran's oil industry are the most essential needs of this key sector, after the sanctions are lifted, deputy oil minister for…

South Korea's electricity giant KEPCO and major automaker Hyundai are set to implement joint ventures in the fields of electricity generation, transmission and distribution in Iran.

South Africa would resume oil imports from Iran "tomorrow", if sanctions were lifted as agreed in July, a senior government official said on Wednesday.

Egypt paid foreign oil companies $600 million in debts in August and still owes them $2.9 billion, the country's oil minister said on Wednesday. Sherif Ismail also said Egypt aims to lower the…

Iran plans to increase power production capacity from combined-cycle power plants by 8,000 megawatts in the foreseeable future to reduce dependence on hydrocarbon resources and curb pollution, a…

Persian Gulf Arab oil ministers are due to meet on Thursday in Qatar for an annual meeting, in the first gathering by the heavyweight crude producers since the latest slide in oil prices.

More gas fields are very likely to be discovered in northeastern Iran, National Iranian Oil Company’s head of exploration told Shana.

“Based on preliminary evidence, there is a high…

Syrian government officials denied on Tuesday that Islamic State militants captured an oilfield, which a monitoring group reported had been seized from government forces a day earlier.

Lowering the rate of electricity wastage nationwide will cost a whopping $3.3 billion, while curbing water wastage in the capital Tehran by merely 1% will cost $60 million, energy officials say.…

Iranian officials elaborated on grounds for cooperation with Spain and Austria after Oil Minister Bijan Namdar Zanganeh on Monday discussed economic and energy ties with the envoys of the two…

Iran will establish a joint committee with Oman to explore the possibility of building dams in the Arab country.

This was announced by Energy Minister Hamid Chitchian after a meeting with…

Brent crude rebounded after two days of declines that sent it to the lowest in more than a week.

Futures advanced as much as 1.6% in London. China’s imports dropped to 26.59 million…

Indonesia will return to the Organization of Petroleum Exporting Countries in December after a six-year break, the country's minister of energy and mineral resources, Sudirman Said, confirmed.

The North Sea oil industry is at “serious and urgent risk” of being abandoned, as major energy firms put off projects due to the oil price slump, according to the UK's Oil and Gas Authority.

The Organization of Petroleum Exporting Countries has offered Russia to become its member, but Russia will remain an observer in the group, Rosneft CEO Igor Sechin said on Monday.

Yadavaran Oilfield's production capacity will reach 180,000 barrels per day in the field's second phase, said a top oil industry executive.

Iran imports around 6.4 million liters of gasoline a day to meet domestic demand, but plans to embark on gasoline export once the first phase of the Persian Gulf Star Refinery in Bandar Abbas goes…