Indian companies ONGC, IOC and OIL are among the five global companies named by the US administration for having energy ties with Iran, for which they can face sanctions, Deccan Herald reported…
Energy
iran energy news, Read the latest news about Iran’s oil and gas sector, renewable energy, electricity, water, and drilling industries.
Energy subsidies lead to improvident consumption, and also bring about inequality as consumers are entitled invariably, energy minister Hamid Chitchian was quoted by ISNA as saying Saturday in a…
Crude oil prices closed down on Friday, with benchmark Brent losing its most in a week since January, as a resurgent dollar and fear of a US rate hike diverted attention from the…
China could struggle to meet its 2020 nuclear energy targets with the industry still waiting on a cautious government to speed up the approval process. But as it waits for domestic projects to go…
A fifth onshore drilling rig has been installed in Yaran oilfield, an official from the National Iranian Drilling Company said Saturday. Nasrollah Abbasi told ISNA that Rig Fath-37 will soon start…
An estimated 550 million liters have been added to the country's oil storage capacity with construction of three new storage facilities, managing director of the National Oil Products Distribution…
Of South Pars gas field's total production target, 33 percent has been realized in the past 18 months, since President Hassan Rouhani took office, managing director of Pars Special Economic…
A prominent industrial manager has called on the government to privatize drilling companies first, arguing that non bureaucratic structure in private firms could help the sector easily handle…
The time limit for implementation of associated petroleum gas (APG) projects has been extended from one year to two years based on applicant companies' demand, Shana news agency reported Saturday…
Annual petrochemical production capacity could hit 180 million tons within the next 10 years, 3 times more than the current capacity, deputy managing director of the National Petrochemical Company…
Oil was to have been Brazil’s “passport to the future,” but the grand dreams tied to state company Petrobras have been brought to a screeching halt not only by falling crude prices, but by a…
British energy giant BP said Friday it would invest $12 billion (11 billion euros) in gas fields in Egypt together with Russian-owned partner DEA, calling it a "vote of confidence" in the country…
Russian gas export monopoly Gazprom said on Friday it had received another $15 million prepayment from Ukraine for gas deliveries, Gazprom's spokesman was quoted by Reuters as saying.
Iran said oil prices would not rise above $60 a barrel until 2016 and that it would increase crude exports if western sanctions over its nuclear program were lifted, Mehr news agency…
Petrochemical exports in the first eleven months of the current Iranian calendar year (ends March 20) generated $13 billion, a 31 percent increase compared with the same period last year when…
A decision by the government to increase residential and industrial electricity prices by 10 and 20 percent (which came into force in February) is seen as an added burden on industries, ISNA…
Production assessments conducted by the Petroleum Engineering and Development Company (PEDEC), also known as Matn, on the first well of the jointly-owned Azar oilfield had positive results,…
Iran will have to pay hefty fines should the country fail to abide by internationally-mandated regulations on greenhouse gases and carbon emissions, Energy Minister Hamid Chitchian said.
Norwegian energy firm Statoil postponed two of its biggest offshore developments on Friday as low oil prices spur cost cuts, Reuters reported. Statoil delayed the concept selection for the Arctic…
Iran's light crude oil price registered an increase of almost nine dollars to reach $54.33 per barrel in February compared with January prices, ISNA reported, citing figures released by the…
The foreign ministry reiterated the country's "explicit and transparent" stance that a prospective final deal on Iran's nuclear program, which is currently under negotiation with major powers,…
Britain may take further action over the sale of German utility RWE's oil and gas production unit to Russian tycoon Mikhail Fridman unless assets are divested, Prime Minister David Cameron's…
Iraq is reviewing its oil production agreements with international firms because falling crude prices meant that the financial cost of existing service contracts were too high to bear.
The governor of the Central Bank of Iran (CBI) has approved opening of a Chinese letter of credit (LC) to help accelerate development of Tabas thermal power plant, Tabas parliamentary…
A senior official from the National Iranian Oil Company (NIOC) projected that oil production will commence from South Pars Oil Layer in less than two years, Shana news agency reported.
