Oil prices steadied at around $53.50 a barrel on Friday after the biggest weekly rally in seven years following OPEC's decision this week to cut crude output in order to rein in a global glut.
Energy
A prominent economist has welcomed an OPEC accord to cut crude output as a win-win deal that protects Iran's national interest, asserting that the agreement could set a precedent to resolve…
Iran’s Persian Gulf Petrochemical Industries Company is in talks with Asian firms to raise an estimated $1.1 billion for expansion programs, including a methanol project to serve China and other…
Oil prices edged higher on Monday, after falling as much as 2% in early trading, as the market grappled over the shaky prospect of major producers being able to agree output cuts at a meeting on…
The Obama administration signed its final plan for renewable fuel use in the United States last week, leaving an oil industry reeling from the most aggressive biofuel targets yet as president-…
Swaupe International Ltd is in talks to construct a 400 megawatts power plant in Chabahar Free Trade Zone, managing director of CFTZ Organization said.
OPEC was trying on Monday to rescue a deal to limit oil output as tensions grew among the producer group and non-OPEC member Russia, with top exporter Saudi Arabia saying markets would rebalance…
National Iranian South Oil Company (NISOC) signed a memorandum of understanding with Schlumberger Ltd, the world's leading oilfield services provider, to study three oilfields in the southern oil-…
As per a directive issued by Oil Minister Bijan Namdar Zanganeh the National Iranian Gas Export Company has been liquidated and handed over to the National Iranian Oil Company (NIOC). Earlier…
China on Saturday formally launched a state-backed commodity trading center in Shanghai, as the world's top energy consumer looks to race ahead of other countries such as Tokyo and Singapore to…
Exxon Mobil, Anadarko Petroleum and their peers, along with big players in other industries, will face as many as 200 resolutions regarding climate change at their 2017 annual…
Saudi Arabia pulled out of planned talks with non-OPEC nations including Russia as disagreements about how to share the burden of supply cuts stood in the way of a deal to boost prices just days…
BP has reached an agreement with Italian oil company Eni to buy 10% of its Shorouk concession offshore Egypt, which includes the super-giant Zohr gas field, for $375 million. BP will also…
Iran and Algeria on Saturday discussed the details of a tentative OPEC accord which aims to cut the group's production to lift prices and ease global oversupply.
Iran is interested in energy cooperation with Japan, including water and wastewater and power plant projects, Energy Minister Hamid Chitchian said.
Chitchian made the statement in a meeting…
Talks are underway between Iran’s National Petrochemical Company and major Spanish consortium Sercobe to open a credit line to finance petrochemical projects in Iran, says the NPC’s head of…
Oil prices slid on Friday, dragged by a strong dollar and uncertainty over whether OPEC will agree to cut production at the group’s meeting next week, but benchmark contracts were on track to…
Energy Minister Hamid Chitchian signed the International Energy Charter declaration in a conference in Tokyo, adopting the 25-year-old non-binding agreement alongside Iraq and Guatemala on Friday…
OPEC’s final push to implement the Algiers supply accord and boost oil prices shifted focus to Iran and non-members such as Russia as Iraq appeared to reverse its opposition to output cuts.
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US president-elect Donald Trump holds stock in the company building the disputed Dakota Access oil pipeline, and pipeline opponents warn that Trump's investments could affect any decision he makes…
Essar Oil, the top Indian buyer of Iranian crude, imported about 86% more Iranian oil in October compared to a year ago, according to tanker arrival data obtained from trade sources and ship-…
Italian oil major Eni will start working again in Iran when it has been repaid investments previously made and when it understands the type of contracts Tehran will be offering, CEO Claudio…
The Health, Safety and Environment Association of Oil Industry Companies of Iran on Friday signed a memorandum of understanding in Tehran with a British corporation on expanding cooperation in the…
Denmark’s ambassador to Tehran has called for strengthening oil and gas ties with Iran, signaling the readiness of Danish companies to return to Iran's petroleum industry.
Iran has decided to phase out inefficient power plants, improve the aging electricity infrastructure and move toward modern power production technology, head of Iran's Thermal Power Plants Holding…
