Russia and Saudi Arabia, the world's two biggest oil producers, indicated on Friday that they are not pulling back from huge crude output levels that have helped send prices tumbling.
Energy
Exxon Mobil Corp. and Chevron Corp. were among several US oil and natural gas producers that had their outlooks or ratings cut by Standard & Poor’s as the industry suffers from weak crude…
Saudi Arabia is expected to cut the prices of crude it sells to Asia in November after the Dubai benchmark weakened last month, in a move that will help the top OPEC exporter retain its market…
Kazakhstan is willing to resume oil swap operations with Iran after the lifting of sanctions against the Persian Gulf country, Kazakhstan’s Energy Minister Vladimir Shkolnik said in the capital…
Mexico awarded three out of five offshore production-sharing contracts on Wednesday in the second phase of its oil sector opening, comfortably beating the disappointing results of the first phase…
Electricity consumption in Iran is not only above the global average, but has also surpassed that of regional rates, said a senior official at the Iran Power Generation, Transmission and…
Iran is inviting foreign investors to actively develop its energy industry after sanctions are expected to ease in 2016, under a nuclear deal between Iran and six global powers, Deputy Oil…
The government is mulling plans to supply water from Zab River along the western borders to the disappearing Lake Urmia in northwest as part of measures to help restore the once largest saltwater…
India will pay the second tranche of $700 million in oil dues to Iran on October 12, sources said, within weeks of paying a similar amount after a July deal that set the roadmap for the lifting of…
The proposal by the Energy Ministry to hike water tariffs has been approved by the Economy Council with slight revisions, but no directives on raising the prices have been issued so far, Deputy…
Oil prices slipped on Wednesday after an unexpectedly big build in US crude inventories, further evidence of an oversupply that has helped halve global spot prices over the last year.
South Azadegan Oilfield Development Project will be financed by Iranian companies and not foreign investments, said Mahmoud Marashi, the executive manager of Development Project.
"So far,…
A second terminal for oil and gas export will be built in the port city of Jask in Hormozgan Province, secretary-general of the Supreme Council of Iran's Free Trade, Industrial and Special…
The government has no plans to scrap fuel cards, which have attracted the attention of Venezuela, Iraq and Syria, CEO of the National Iranian Oil Production and Distribution Company said.
"…
In a meeting on Wednesday, the Cabinet approved the framework of the new petroleum contracts, known as Iran Petroleum Contract, due for unveiling in November.
IPC is aimed at accelerating…
Iran's condensate exports in September reached the highest monthly total so far this year, after its top client China resumed buying the ultra-light crude for the first time in six months, two…
India reduced the price of locally produced natural gas by 18% for six months beginning Oct. 1, hurting producers, including Oil & Natural Gas Corp., Oil India Ltd. and Reliance…
The overall level of energy consumption nationwide should be cut by two-thirds by the end of the Fifth Five-Year Economic Development Plan (2016) and reach 50% of the present level by the end of…
Energy Transfer Equity will acquire the Williams Companies for about $37.7 billion, including debt, to create a giant in US oil and gas pipelines, the companies announced Monday.
The stock-…
Russia’s state-run energy giants Rosneft OJSC and Gazprom PJSC are delaying offshore drilling by two to three years because of sanctions and weaker oil prices, according to the country’s…
A summit of OPEC and non-OPEC, as suggested by Venezuela, would be pointless as independent producers are not committed to cutting output, Kuwait’s oil minister said.
“The problem is that…
More than 14 million cubic meters of gas from Phase 19 of the South Pars Gas Field in the Persian Gulf is planned to be injected into the national gas pipeline by winter, according to the phase…
Gas storage volume has been doubled in the northeastern Shourijeh underground gas storage facility in Sarakhs City in Khorasan Razavi Province, the managing director of Hasheminejad (Khangiran)…
The Iranian Offshore Oil Company is working on a $7-billion investment plan to raise extraction from southern oilfields, IOOC managing director said.
Saeed Hafezi added that the plan calls…
Brazil's crude oil exports rose by more than 50% in August compared with a year earlier and gasoline output fell by more than a fifth, the country's petroleum regulator ANP said, as Brasilia…
