Oil Minister Bijan Namdar Zanganeh says Iran has turned to the sale of Islamic bonds to finance oil projects. "The first sale of bonds to fund our oil output augmentation projects worth $6.2…
Energy
Oil prices edged higher for the first time in three sessions on Wednesday, although concerns over the outlook for the global economy capped gains. US West Texas Intermediate crude futures were…
Sixty-three petrochemical plants have come on stream over the past 40 years and production and export of a variety of petrochemicals have grown. According to National Petrochemical Company data…
Canadian company Pembina Pipeline Corp. says it is going ahead with a $4.5-billion joint venture with Kuwait's Petrochemical Industries Co. to build an integrated propane dehydrogenation plant…
India’s Hindustan Petroleum Corporation Limited could buy 0.9 million tons of Iran oil in its 2018/19 financial year, said Vinod S Shenoy, the company’s director of refineries. HPCL bought 0.7…
To speed up production from oil fields shared with Iraq, drilling operations on seven wells in Azar Oilfield in Anaran block in Mehran, Ilam Province, are expected to end by March, operation…
Privatization of power plants has not been compatible with Article 44 of the Islamic Republic Constitution based on which a large part of executive responsibilities of the Energy Ministry…
Oil Minister Bijan Namdar Zanganeh on Tuesday made a rather positive review of the government's projected oil revenues in the proposed budget for the next fiscal that begins in March.
Iran's oil refining capacity has reached 1.95 million barrels per day, indicating a 100% increase over the past four decades.
Four new solar farms in cities and towns in western Hamedan Province were inaugurated on Tuesday. “The four farms, each with production capacity of 7 megawatts, supply 28 MW of electricity to…
Russia is complying fully with its pledge to cut oil production gradually, Energy Minister Alexander Novak said on Monday. He said Russian oil production decreased by 47,000 barrels per day in…
Iran recoverable crude oil and gas condensates reserves are estimated at 160 billion barrels. According to the Exploration Department of the National Iranian Oil Company, proven gas reserves are…
PDVSA began a partial rationing of gasoline at gas stations in certain areas of Venezuela, as many gas stations in Caracas ran out of fuel as customers nervously filled up their tanks in…
Oil hit a two-month high above $63 a barrel on Monday as OPEC-led supply cuts and US sanctions against Venezuela’s petroleum industry offset forecasts of weaker demand and an economic slowdown…
Energy Minister Reza Ardakanian says the electricity export bill to Iraq over the past 15 years amounts to $6 billion. "The neighboring country has paid $5 billion of and the rest is…
Japan's largest refiner JXTG Nippon Oil & Energy is set to resume loading of Iranian crude oil as early as Monday, almost three months after the US sanctions waiver was granted. S&P…
Construction of a combined-cycle power plant in Sabzevar, Khorasan Razavi Province, started on Saturday. With 546 megawatt capacity, the plant will help develop regional power infrastructure,…
To help avoid power outages in summer, Tehran Province Electricity Distribution Company is renovating the power grid, the managing director said. Hossein Sabouri said $3 million is spent per…
US crude exports to Asia are set to swell over March and April as a drop in freight rates makes US cargoes more competitive against barrels from Asia or the Middle East, according to market…
Royal Dutch Shell plc, through its subsidiary Shell Brasil Petroleo Ltda. and consortium partners have announced the start of production at the Lula North deepwater project in the Brazilian…
Exxon and Qatar Petroleum will proceed with a $10 billion expansion of their Golden Pass liquefied natural gas import terminal in Texas to turn it into an export facility as well, Reuters…
To raise crude output in shared reservoirs with Iraq, Iran's Petroleum Engineering and Development Company is installing skid-mounted modular mini refining units in South Azadegan Oilfield in…
South Khorasan Regional Electricity Company has installed 30 solar panels for 80 nomadic families in underprivileged areas over the last 10 months, managing director of the provincial Nomadic…
Seventy power projects will be operational in Yazd Province by the end of February, managing director of Yazd Regional Electricity Company said Saturday.
European buyers of the heavy crude produced by Venezuela’s PDVSA have put their purchases on hold in anticipation of sanctions against the government in Caracas to be announced by the European…
