Iran has attracted billions of dollars in foreign investment in petrochemical projects after the agreement over the disputed nuclear program last year, with the Chinese making the biggest…
Energy
Japan signaled on Wednesday it would scrap a costly prototype nuclear reactor that has operated for less than a year in more than two decades at a cost of 1 trillion yen ($9.84 billion).
Oil prices edged lower on Tuesday ahead of an expected build in US crude oil stocks and on Venezuelan comments that the oil market remains oversupplied by 10%.
Siemens has shipped the first F-class gas turbine for a power project in Bandar Abbas, only six months after signing an agreement with MAPNA Group, an Iranian engineering and construction…
First Vice President Es’haq Jahangiri said petrochemicals account for one of the main non-oil exports, underlining the need to remove hurdles on the road to expand exports.
Saudi Arabia's oil exports rose in July as the kingdom pumped record high levels of crude, keeping the global market well supplied.
High and rising production costs in joint offshore oilfields notwithstanding, their development tops National Iranian Oil Company's priority, the company's managing director said on Tuesday.
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India is set to buy 6 million barrels of Iranian crude for its strategic oil reserves as negotiations with the United Arab Emirates' national oil company for supplies are stuck over commercial…
Oil Minister Bijan Namdar Zanganeh discussed developing two Iranian oilfields by Russia’s Lukoil in a meeting with Vagit Alekperov, the company’s chief executive director in Tehran.
French gas and power group Engie plans to cut about 1,150 jobs in various support functions and the firm's liquefied natural gas (LNG) business is set to book a full-year loss after making losses…
Three more companies in North America joined the ranks of those that have filed for Chapter 11 bankruptcy protection since the fall in oil prices.
Libya halted loading what would be the first overseas crude shipment from the port of Ras Lanuf since 2014 as rival armed forces began fighting for control of the facility, complicating efforts to…
In an open letter to Oil Minister Bijan Namdar Zanganeh, a member of parliament warned about the environmental hazards of a fire incident at a petrochemical complex in southern Iran and its grave…
Iran has leased 12 oil tankers to foreign companies and plans call for leasing more vessels in the current Iranian fiscal year that ends next March, managing director of National Iranian Tanker…
President Hassan Rouhani says Tehran supports any move to stabilize the international oil market and lift prices.
"Instability and falling oil prices are harmful to all countries,…
The meeting of the members of the Organization of Petroleum Exporting Countries and non-OPEC producers in Algiers later this month would be an informal meeting for consultations and not for…
Brazil's largest oil workers union strongly rejected a proposal from Petrobras for a deal over salaries and benefits in their annual talks, increasing the risk of a new strike at the state-led oil…
Majlis Speaker Ali Larijani has endorsed the new model of oil contracts, speaker of the Parliament Energy Commission said on Saturday. Asadollah Gharekhani said a special committee in parliament…
Oil producers in the North Sea were supposed to be among the first victims of a global battle for market share. Instead their high-cost, decades-old facilities are proving surprisingly resilient…
US drillers this week added oil rigs for an eleventh week in the past 12, according to a closely followed report on Friday, although the rate of increases has slowed as crude prices remain below…
The Central Bank of Russia expects the crude glut on the global market to persist till 2017, according to the regulator's report on monetary policy released on Friday.
Shazand Petrochemical Company has received more than $6.7 million in frozen revenues from foreign banks after the implementation in January of the nuclear agreement with the six world powers,…
Iran’s diesel export has reached 15 million liters per day, the recently appointed managing director of National Iranian Oil Products Distribution Company said on Saturday.
The energy minister has raised the alarm on critically low levels of rainfall and dwindling water resources, linking the dry spell in Iran and other regions to the upsurge in harmful emissions…
Venezuela will use this weekend's Non-Aligned Movement summit to meet fellow oil producers and gather support for a global deal to strengthen oil prices at a gathering in Algeria this month, Oil…
