Despite recent improvement in oil prices and the adoption of consolidation measures, projected fiscal deficits of (Persian) Gulf Cooperation Council countries remain large in both the short and…
Energy
Listen to Saudi Arabia and hear the oil market is rebalancing. Look at the screen, and Brent is indeed holding above $50 a barrel. But dig deeper into the world of physical oil, and bearish…
Iranian petrochemical companies continue to be affected by difficulties in obtaining letters of credits, a source at a local petrochemical company said on the sidelines of the “K 2016” trade fair…
A deputy oil minister said on Saturday that oil cooperation between Iran and Germany’s Deutsche Bank has resumed.
According to Amirhossein Zamaninia, negotiations are being held also with…
Tehran and Kuala Lumpur have converging interests in boosting ties in Iran's petroleum sector, Oil Minister Bijan Namdar Zanganeh said on Saturday, underlining oil trade as a positive step to…
Iran's longest power transmission line with a capacity of 400 kilovolts is planned to be officially launched on Oct. 23 in Arak, Markazi Province, in the presence of President Hassan Rouhani and…
Oil prices fell on Friday as a strong dollar made it more expensive to hold the dollar-denominated commodity, setting contracts up for the first weekly loss in five weeks.
Global benchmark…
Many nations are willing to join OPEC in cutting production to secure a continued improvement in oil prices, said Saudi Arabia’s Minister of Energy and Industry Khalid Al-Falih.
Russia will produce 548 million tons (11 million barrels per day) of oil next year, a post-Soviet record, however Moscow still wants global producers to curb production amid weak prices, Energy…
Haldor Topsoe, one of the world’s leading catalysis companies, is keen to expand its presence in Iran’s petrochemical industry and is in cooperation talks following the lifting of international…
Iran has reached an agreement with Greece to settle the latter's oil debts over two years, the deputy oil minister for international affairs said.
“Greece will repay its oil debt in…
The National Iranian Oil Company is expected to reach an agreement by the end of next month with Khatam-al-Anbiya Construction Headquarters, a major domestic contractor of engineering projects, on…
France's oil giant Total is expected to sign a $2 billion contract by March with the Persian Gulf Petrochemical Industries Company to build a petrochemical complex for olefin production in Iran,…
Iran wants to attract $72 billion in foreign investment for 80 major petrochemical projects in line with plans to triple petrochemical production over a decade, the top petrochemical official said…
Venezuelan President Nicolas Maduro is to arrive in Tehran on Saturday and meet President Hassan Rouhani for talks on the volatile international oil market. Maduro has said his government will…
Egypt’s central bank has allocated $1.8 billion to ensure six months of reserves in all strategic goods, Supply Minister Mohamed Ali El-Sheikh said on Wednesday, after widespread sugar shortages…
Japanese traders including Marubeni Corp and Sumitomo Corp that stopped buying Iranian oil during sanctions are looking to resume imports, potentially by the yearend, industry sources said.
Saudi Arabia's crude oil exports in August fell to 7.305 million barrels per day from 7.622 million bpd in July as the world's largest oil exporter pumped less, the kingdom has told an influential…
A top official in the oil industry warned on Tuesday that Iranian manufacturers of oil and gas equipment are working at almost one-third of their production capacity.
Iranian and Pakistani officials are still hopeful that a long-pending gas supply project between the two nations will see the light of day despite years of financial constraints and…
Negotiations are underway with Danish conglomerate Maersk Group to undertake the second phase of the South Pars Gas Field's oil layer development project, said the deputy head of National Iranian…
Iran is negotiating with 16 international energy companies to help operate and manage 50 oil and natural gas projects around the country to boost production after years of international sanctions…
Moscow and Cairo may ink a deal on the construction of the Dabaa Nuclear Power Plant in Egypt by the end of the year. Russia's Rosatom nuclear energy corporation could sign a contract on the…
Iran's energy minister on Tuesday discussed grounds for cooperation in energy projects with Premysl Sobotka, first vice president of the Czech senate.
"We are interested in expanding…
Natural gas has been discovered in a part of the North Sea—an area that up until now, had slim chances of containing reserves.
