Energy

Financial disputes between the Energy Ministry and the contractor of the first geothermal power plant in Meshgin Shahr, Ardebil Province, has brought the project to a standstill, the governor of…

OPEC oil supply has fallen in November from a two-year high due to US sanctions on Iran, a Reuters survey found, although most of the output gap left by Iran was plugged by Saudi Arabia and the…

Japanese firms will continue buying crude oil from Iran with the maximum capacity possible before the end of the 180-day period during which it is exempt from new US sanctions on Iranian oil…

Italian major Eni is in talks to expand its footprint in Oman and the United Arab Emirates as part of plans to build its asset base in the oil-rich Persian Gulf and offset its reliance on Africa…

In the wake of a sharp spike in ethane production, polyethylene output in Kavian Petrochemical Complex in the Pars Special Economic Energy Zone in Asalouyeh, Bushehr Province, has witnessed a 40…

Oil’s on track for its worst month in a decade on growing fears over a global supply glut that’s been exacerbated by American waivers to Iranian crude buyers. Futures in New York are set to…

The National Iranian Drilling Company has drilled 98 onshore and offshore wells since March, the company’s deputy managing director for drilling operations said.

Two platforms of phases 22-24 in the South Pars Gas Field off the Persian Gulf will come on stream next January, operator of the two phases said. Farhad Izadjou said the two phases have made 92…

Imports of Iranian crude oil by major buyers in Asia hit a five-year low in October, as China, Japan and South Korea sharply cut purchases ahead of US sanctions on Tehran that took effect in…

The annual cost of maintenance and expansion of Tehran's power network is $22 million, the managing director of Tehran Province Electricity Distribution Company said Tuesday. Hossein Sabouri…

Iraq has finalized its 2019 crude oil term contracts, with 67% of its exports poised to go to Asia, an oil ministry spokesman said Tuesday. "The percentage of the total quantities planned for…

Close to 130 billion cubic meters of natural gas was consumed during the eight-month period to November 21. According to Saeed Momeni, the deputy manager at the  National Iranian Gas…

South Korea's gasoline demand dropped 16% year on year in October, the sharpest decline in 20 years since October 1998 when the country was hit by the Asian financial crisis.

Japanese buyers are unlikely to load Iranian oil after April 1 without an extension of the country’s current waiver because of the difficulty in making payments before sanctions are reimposed in…

Oil prices fell on Tuesday, depressed by record Saudi production even as the kingdom tried to persuade other exporters to agree output cuts ahead of an OPEC meeting next week. Brent crude oil…

The National Iranian Drilling Company, a subsidiary of National Iranian Oil Company is able and willing to undertake drilling operations and subsidiary services overseas, says the managing…

China National Petroleum Corporation has replaced France's Total in the South Pars gas project, Oil Minister Bijan Namdar Zanganeh said. "Total has been replaced by CNPC in Phase 11 of South…

Competent companies can and must play their role in developing oil and gas projects, the head of the Society of Iranian Petroleum Industries Equipment Manufacturers said.

Brent Crude is expected to average $75.50 a barrel next year, according to an S&P Global Platts survey of 11 top banks and oil brokers, who see OPEC cutting oil production by at least 1…

Turkey’s foreign minister objected to the Trump administration’s demand that it slash imports of Iranian petroleum products in six months, arguing that the time frame is too tight given his…

A 42 megawatt gas power plant in Zahedan, capital of Sistan and Baluchestan Province, started operations on Thursday in the presence of the Energy Minister Reza Ardakanian.

Costing…

Natural gas production in the giant South Pars Gas Field in the Persian Gulf will increase by 84 million cubic meters per day by March, the managing director of Pars Oil and Gas Company said. "…

OPEC is showing no public signs of panicking to the largest weekly plunge in oil prices since 2016, with five senior sources telling S&P Global Platts that the organization has not discussed…

After completion of the first phase of the plan to collect associated petroleum gases in the Forouzan Oilfield in the Persian Gulf by the end of the current fiscal (March 209), an estimated 15…

Oil bounced by around $1 a barrel on Wednesday to claw back some of the previous day’s 6% plunge, lifted by a report of an unexpected decline in US commercial crude inventories and record Indian…