Energy

The global oil market will struggle this year to absorb fast-growing crude supply from outside OPEC, even with the group’s production cuts and US sanctions on Venezuela and Iran, the…

A flurry of intensifying risks could trigger an energy market "crunch" over the coming months, according to the chief executive of BP. His comments come at a time when energy market…

Iran is a dry and semi-arid country with limited water resources and limited rainfall; however, considering its vast land area, diverse climate, high altitude, vast plains and long coasts, there…

Venezuela's oil minister is in New Delhi this week hoping to convince India's key refiners to buy more of its crude and forge closer ties as the South American nation finds itself…

OPEC’s biggest producer Saudi Arabia would need oil prices at $80-85 per barrel in order to balance its 2019 budget, Jihad Azour, director of the Middle East and Central Asia Department at the…

Iran's liquefied petroleum gas shipments, which hit a trough in December at 101,000 tons, increased four-fold in January. The National Iranian Oil Company exported 400,000 tons of LPG last…

Four more phases of South Pars Gas Field in  Assaluyeh, Bushehr Province, will go on stream in the near future, the oil minister said. "Phases 14, 22, 23 and 24 will become fully…

Iran can buy several million cubic meters of water from Afghanistan in exchange for gas and electricity, a Zabol lawmaker said. Over the past year, Afghanistan has blocked the flow of water…

Middle East oil benchmarks Dubai and DME Oman have nudged above prices for Brent crude, an unusual move as US sanctions on Venezuela and Iran along with output cuts by OPEC tighten supply of…

A committee from the US House of Representatives has approved a bill aimed at making OPEC members liable to US antitrust legislation, Reuters reported, adding the prospects of the bill ending up…

Iraq is interested in expanding technical and engineering collaboration with Iran, the country’s Electricity Minister Luay al-Khateeb said during a tour of MAPNA Industrial Group’s technical and…

Gasoline inventories show a three-fold increase compared to last year, director of supply and distribution at the National Iranian Oil Products Distribution Company said Sunday. "Gasoline…

Oil exporters have not fully recovered from the dramatic oil price shock of 2014, the head of the International Monetary Fund said on Saturday, and she cautioned against spending money on "white…

Indian refiners are increasingly optimistic on winning another round of waiver to continue buying Iranian oil, at reduced levels, as New Delhi has put forward a strong case to Washington that it…

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…

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…