US sanctions on Iranian crude could soon push oil prices above $90 a barrel, an oil analyst told CNBC on Monday, amid heightened energy market fears of a supply shock.
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Vietnam’s Nghi Son oil refinery is seeking approval to export oil products, as high inventories and preexisting import contracts have limited domestic fuel demand, said three industry sources on…
A senior Iranian energy official criticized Russia and Saudi Arabia for ramping up oil output, saying they were breaking a production agreement between OPEC and Moscow and would strengthen the…
Despite a persistent decline in crude oil production, Venezuela has seen its exports of crude to its biggest market, the United States, climb since February this year.
In fact, between…
Oil prices rose on Monday after Saudi crude production registered a surprising dip in July and American shale drilling appeared to plateau.
Spot Brent crude oil futures were at $73.42…
A consortium of Philippine and Chinese companies will help Iran complete its value chain in the petrochemical industry, National Petrochemical Company's deputy for investment said.
Iraqi Oil Minister Jabar al-Luaibi said on Monday oil prices are approaching stability. Iraq plans to raise oil production to more than 7.5 million barrels per day by 2023-24, including 6…
Boosting the share of compressed natural gas in the country's fuel mix can have multiple advantages, especially cutting gasoline demand and helping export the fuel, the head of Iran's CNG…
A new container terminal in the southwestern Khorramshahr Port Complex in Khuzestan Province will be operationalized by the end of the fiscal year (March 20, 2019).
For the first time in history, investment in India’s renewable energy sector surpassed that of fossil fuel-based power production. India achieved this groundbreaking feat in 2017, according to…
Japan has asked the United States to prevent a possible adverse impact of its sanctions on Japanese companies seeking crude oil from Iran, Japan's Foreign Ministry said on Friday.
Electricite de France (EDF) has halted four nuclear reactors at three power plants in France because of the current heatwave affecting Europe, a spokesman for the utility said on Saturday.
Senior executives from German gas and energy companies are scheduled to visit the First Iran International Gas Show (IRGS 2018) to be held in Tehran in September.
Saudi Arabia pumped close to its all-time high in July and several of its OPEC brethren posted their largest crude oil output figures in more than a year and a half, as the bloc appears to be…
Top oil exporter Saudi Arabia said on Saturday it has resumed all oil shipments through the strategic Red Sea shipping lane of Bab al-Mandeb. Saudi Arabia temporarily halted oil shipments…
The construction of storage tanks at Goureh Oil Terminal in Bushehr Province is expected to become complete by the end of the current Iranian year (March 20, 2019).
Iran has finally filed a lawsuit in the International Court of Arbitration against Turkmenistan for cutting off its natural gas supply in late 2016, after unsuccessful efforts to resolve the…
The completion of its largest liquefied natural gas venture, known as "Iran LNG", will change Iran into a major player in the global gas market, the former secretary-general of Gas Exporting…
Crude futures pulled back late on Friday, giving up gains from the previous session as trade concerns weighed on the market and fueled misgivings about demand. US West Texas Intermediate crude…
Saudi Arabia, which recently pledged oil-supply increases to tame rallying crude prices, cut production last month, according to OPEC delegates familiar with the matter.
Canada Natural Resources, the largest producer, is allocating capital to lighter oil drilling and is curtailing heavy oil production, as the price of Canadian heavy oil tumbled to a nearly five-…
Due to the rising trade tension between China and the United States, the trading arm of Chinese state oil major Sinopec has suspended imports of crude oil from the United States, Reuters…
Iran's electricity consumption, which had leaped during the summer heat wave in the past few weeks, has fallen by some 15%, giving the government great relief.
According to the Iran Grid…
Iran will face widespread water shortage sooner-than-expected if water price is not adjusted, Energy Minister Reza Ardekanian said on Friday.
“While the price of a 0.5-liter bottle of…
The US State Department's efforts to reduce Tehran's oil revenue to zero will bear no fruit, Majlis Research Center's director said.
"The country has its own traditional customers,…
