Russian Energy Minister Alexander Novak said coordinated oil production cuts with OPEC to support falling oil prices were unlikely and would be inefficient if they did happen anyway.
Energy
As soon as sanctions imposed on Iran are lifted, there will neither be any obstacles nor pressure from a third party to implement the long-awaited Iran-Pakistan Pipeline, Pakistan's oil and…
The lifting of sanctions will ease the docking of Iranian oil vessels in international ports, allowing Iran's tanker fleet to earn a significant amount of profit, chief executive of the National…
Extracting drinking water from a depth of 800-1,000 meters in some areas of Iran is viable, a deputy energy minister said, referring to a series of studies.
Oil and gas projects worth an estimated $380 billion have been cancelled since 2014, according to a new estimate from Wood Mackenzie.
The downturn in oil prices has hit projects…
US energy firms this week continued to cut the number of rigs drilling for oil to the lowest in nearly six years, data showed on Friday, suggesting drillers were preserving cash as they evaluate…
Brent crude futures plunged as much as 5.5% to near 12-year lows on Friday as the market braced for increased Iranian oil exports, with the lifting of international sanctions possible within days…
The undisclosed formula for setting the price of natural gas as feedstock for petrochemical units officially got the backing of First Vice President Es'haq Jahangiri on Thursday.
South Korea's crude oil shipments from Iran slid 62.2% in December from a year ago, with imports in full-year 2015 falling 8% from 2014 in accordance with sanction requirements over Tehran's…
The newly inaugurated phases of South Pars Gas Field will generate a return on investment in less than two years, managing director of Pars Oil and Gas Company said.
The Energy Ministry endorses foreign investors' plans aimed at reducing electricity wastage in the country, deputy energy minister said on Thursday.
Houshang Falahatian made the statement…
With Iran poised to resume usual business ties with the world under a historic nuclear deal, Tehran is set to target India, Asia's fastest-growing major oil market, and old partners in Europe with…
German investors will construct one of the world's biggest solar power plants in the central province of Isfahan, a representative of the German company said on Thursday.
The first developmental well of Sohrab Oilfield has been drilled and is ready for exploitation, director for drilling projects in Sohrab and Darkhovein oilfields said. Hailed as "one of the…
Oil prices fell on Wednesday after a rise in weekly US crude inventories fed into bearish sentiment about the deepening global supply glut that has brought oil prices close to 12-year lows.
OPEC members are unlikely to convene an emergency meeting ahead of the group's scheduled summit in June, Oil Minister Bijan Namdar Zanganeh said, as his Emirati counterpart supported Iran's return…
China will not let fuel prices fall in line with crude below $40 a barrel, as the world’s second-biggest oil consumer seeks to curb pollution and shield domestic producers from the oil price…
Kuwait has decided to permanently shut its heavy oil cracking unit at its Shuaiba refinery that has been shut since a fire at the unit in August, a spokesman for the state refiner said on…
The National Iranian Tanker Company is prepared to deliver petroleum products to European countries, as Iran is only days away from the removal of sanctions.
Iran's energy sector in post-sanctions era will have a high investment capacity, an Italian member of the World Energy Council said on Monday.
Jozpeh Preziuso made the statement on the…
OPEC will soon make efforts to convene before the next scheduled meeting in June, as the slump in oil prices is hurting producers, including the world’s biggest exporter, Saudi Arabia, said…
British oil and gas company BP announced plans on Tuesday to slash 5% of its global workforce in the face of a continued slump in oil prices.
It said it aims to reduce its global oil…
Modification and reconstruction of water and wastewater networks need $270 million annually, a senior official at the National Water and Wastewater Engineering Company (Abfa) said.
Iran will turn into a key player in the global oil market in the near future, the acting oil minister said while outlining energy policies in Iran's post-sanctions period.
Seyyed Kazem…
Investors from Japan, Spain, India and South Korea have contacted the National Iranian Oil Refining & Distribution Company and asked for detailed information about oil projects in Iran, yet…
