Oil Minister Bijan Namdar Zanganeh on Wednesday sought to reassure his critics and stakeholders in Iran's oil and gas industry that a raft of new contracts to develop the country's massive…
Energy
The world’s biggest oil companies, supported during crude’s collapse by a buoyant refining business, have lost that buffer as brimming fuel stockpiles swamp demand.
The International Energy Agency said that the world's capacity to generate electricity from renewable sources has now overtaken coal.
The IEA said in a new report that last year, renewables…
Crude oil futures gained on Tuesday ahead of the release of US crude inventory data, which in recent weeks has provided bullish surprises, but a flurry of top-level comments from OPEC members…
Iraq's Oil Ministry has launched a new round of bidding to develop 12 small to medium-sized oil fields and will directly negotiate terms with oil companies as it seeks to move away from the…
Venezuelan Oil Minister Eulogio Del Pino and Russian Energy Minister Alexander Novak have discussed coordinating action on the global oil markets, Russia's Energy Ministry said in a statement.…
Iran’s Oil Industries, Engineering and Construction company has participated in several tenders to develop oilfield projects in neighboring countries, the firm's chief executive officer said on…
Bosnia and Herzegovina is expected to hold a new round of negotiations to import oil and byproducts during the visit of Bosnian Chairman of Presidency Bakir Izetbegovic to Tehran at the head of an…
A top oil official on Tuesday said the government plans to exclude a bill for gasoline imports from the national budget for the next fiscal (2017-18) in what would end years of reliance on imports…
India’s government is in “serious” negotiations with Iran on securing the development rights for Farzad-B Gas Field in the Persian Gulf, deputy oil minister for international affairs said.
Global oil demand will rise by 1.2 million barrels per day in 2017, steady from 2016 global demand growth levels, despite gains in Chinese consumption, the chief of the International Energy Agency…
A short-term cap in oil output would reduce market volatility, Russian Energy Minister Alexander Novak said on Monday at a meeting with OPEC Secretary-General Mohammed Barkindo, as both are…
Oil prices fell on Monday as Iraq said it wanted to be exempt from an OPEC deal to cut production, though losses were capped by Iran saying it would encourage other members to join an output…
Energy Minister Hamid Chitchian on Monday reiterated plans to build five photovoltaic power stations in the near future as part of declared national policy to boost electricity production from…
Companies are expanding talks with western officials on investment and cooperation in the petrochemical industry in line with long-haul plans to raise billions of dollars in foreign investment to…
The cost of developing the second phase of North Azadegan Oilfield in Khuzestan Province are expected to be reduced due to the removal of international sanctions in January, the executive director…
A deputy oil minister said on Monday that Tehran was ready to encourage other OPEC members to join a plan to freeze output to bring stability to the volatile oil market.
Angola became China's largest crude supplier for the second time in September, taking the top position from Russia, customs data showed on Monday. China imported 4.19 million tons of oil from the…
Iran has given the final ultimatum to India’s Oil and Natural Gas Corporation Limited (ONGC) to offer a more attractive master plan for development of the coveted Farzad-B Gas Field project in the…
Iraq will maintain oil production at current levels after exceeding 4.7 million barrels a day in September, even as other OPEC members discuss limits on output.
Iraq asked the Organization…
After a heart-stopping plunge in the price of crude over the last two years, along with slashed dividends and the elimination of tens of thousands of jobs, the biggest oil companies are proving…
Oil Minister Bijan Namdar Zanganeh on Sunday urged non-OPEC producers to join an OPEC-led initiative to cut crude production to rebalance the market and lift prices.
“Members of the…
Iran's Energy Efficiency Organization (SABA) and Italy's Centro Elettrotecnico Sperimentale Italiano (CESI) signed an agreement in Tehran on Sunday on technology transfer and implementing the…
A senior official on Sunday outlined some of the terms and conditions of the new oil and gas tenders that make it difficult for small and mid-tier companies to enter the multibillion dollar energy…
Kuwait's finance minister and acting oil minister Anas al-Saleh sees crude oil prices at $50 to $60 a barrel within the next 15 months, Reuters reported on Sunday. Saleh made his comments in an…
