Data released Friday indicates that that the number of rigs operating in the US was down 74 this week, the rig count’s biggest one-week decline in more than six years.
Energy
iran energy news, Read the latest news about Iran’s oil and gas sector, renewable energy, electricity, water, and drilling industries.
Japan Atomic Power Company is considering splitting itself into two units, seeking to restructure its business to focus on the decommissioning of nuclear reactors on behalf of regional utilities,…
In the face of sanctions imposed on Iran’s energy sector, the National Iranian Oil Refining and Distribution Company (NIORDC) has signed a contract with a domestic producer for providing the…
A shift from standards recommended by the American Petroleum Institute (API) to Iran's own industry standards is being studied by a group of Iranian experts, director of the center for research…
Iran, Azerbaijan, and Turkmenistan may cooperate in construction of a pipeline to transfer gas from the Caspian region to Europe, Tasnim news agency quoted the National Iranian Gas Company (NIGC)'…
The oil ministry has reviewed the list of companies banned from signing oil contracts and a number of them have been delisted, Mizan news agency quoted deputy oil minister, Emad Hosseini, as…
Ukraine imported 572.2 million cubic meters of Russian gas in the first two weeks of January, the country’s state-owned gas company UkrTransGaz reported on Monday. All in all, Ukraine imported 1…
The price of oil could fall to $25 a barrel, Lukoil chief Vagit Alekperov said. Based on the latest statements from Saudi Arabia, he said a price drop to $25 could not be ruled out amid…
Oil advanced in New York, paring an eighth weekly decline, as the International Energy Agency (IEA) lowered forecasts for supplies from outside OPEC and said prices could recover, Bloomberg…
BP Plc will face a maximum fine of $13.7 billion under the Clean Water Act for its Gulf of Mexico oil spill, several billion dollars less than feared, after a judge ruled that it was smaller than…
India imported 42 percent more Iranian oil last year over 2013 levels as its refiners increased purchases to take advantage of an easing in sanctions targeting Tehran's nuclear program.
The…
A hydrogen unit for refining kerosene and gasoil (diesel) is being built at the Tehran refinery, which has been taking measures recently to uphold environmental standards, director of operations…
Power generation capacity of solar and wind power plants will increase two-fold by yearend (March 21), managing director of Iran Power Generation and Transmission Company (Tavanir) announced.
Three projects are being implemented, one in Isfahan and two others south of the country, with the aim of increasing the domestic gasoline production capacity by 10 million liters a day, deputy…
While preliminary estimations indicated that Yadavaran oilfield's reservoir contains approximately 17 billion barrels of oil, a recent study has assessed the figure to stand at 34 billion barrels…
The largest methanol unit in the world, with a production capacity of 7,000 tons per day, has had a progress of 65 percent so far, Tasnim news agency reported Friday.
Dubai launched a project Thursday to build a solar plant to produce 200 megawatt of electricity, as part of plans to generate five percent of the emirate's power from renewables by 2030. The $327…
Refineries around the world processed a record volume of crude in December as plants returned from maintenance and falling oil prices boosted margins, the International Energy Agency said on…
Persian Gulf Arabs are gradually losing perks from free water to cheap fuel as governments hit by the slump in crude prices seek to trim their budgets, Bloomberg reported.
Norway is embracing a slump in the krone that Finance Minister Siv Jensen says will act as a buffer to protect western Europe’s biggest oil exporter from plunging crude prices.
Italy's Eni has reached its second agreement in less than a week to explore oil and gas fields in Egypt, as efforts by Cairo to pay foreign oil majors debt attracts investors, UPI reported.
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Qatar Petroleum and Shell said they had decided not to proceed with their $6.4 billion Al Karaana petrochemical project in the Persian Gulf state, the region's second big energy project to be…
The country's air quality slightly improved after gasoline produced at petrochemical plants was eliminated from the list of fuels distributed nationwide, deputy head of the Department of…
Subsidies are intended to protect consumers by keeping prices low. But they also come at a high cost as they are expensive for governments -- and therefore taxpayers -- to finance and can hinder…
Industry experts expect that further pressure reductions of the South Pars Phase 12 reservoir in the coming years will reach full production from present platforms, indicating the need for a new…
