According to the latest mid-year forecast assembled by World Oil magazine, only 14,430 wells will be drilled in the US this year, on par with the years 1930-34, when not a single year topped 20,…
Energy
Oil fell after the longest run of gains in four years, as Iraq sought to increase exports amid a global oversupply and Nigerian militants called an end to hostilities.
Futures dropped as…
Iran is capable of providing Afghanistan with its much-needed oil products for 30 years, managing director of National Iranian Oil Refining and Distribution Company said on Monday.
Petroliam Nasional Bhd., Malaysia’s state oil company, said profit dropped 96% last quarter after it was hit by oil prices that remained sharply lower than a year earlier. Net income fell to $86…
Italian energy firm Eni is looking forward to working in Iran's oil industry but is waiting for the finalization of the country's new model of contracts for dozens of oil and gas projects, the…
Siemens, the German engineering company, has commenced a new round of negotiations with Iran on expansion of cooperation in the country’s petrochemical industry.
The list of Iran's crude oil buyer has expanded noticeably in the last few months.
The list, which had been limited to only five states during the sanctions, has grown significantly, as…
Oil companies and even Nigerian officials are losing faith in a deal anytime soon with militants who have slashed the nation's oil output, casting doubt on a production recovery in what is…
China’s diesel exports rebounded to a record in July, as severe flooding in some parts of the country curbed domestic fuel demand.
The world’s largest energy consumer exported 1.53 million…
Venezuelan state oil company PDVSA has begun talks with Credit Suisse AG for a possible swap of bonds due in 2017, according to sources familiar with the negotiations. PDVSA has seen its income…
Oil Minister Bijan Namdar Zanganeh appeared before the parliament in a closed hearing on Sunday to address questions and concerns over the new model of oil contracts.
The hearing was held…
Iran’s crude oil storage capacity will increase by 10 million barrels in the current Iranian year (started March 20), managing director of Iranian Oil Terminals Company announced on Sunday.
Thanks to the large-scale gas production in the country, there is no need to import oil byproducts, such as diesel and mazut, from the Caspian Sea littoral states to meet the northern power plants…
Shale drillers are adding the most oil rigs since crude was worth $100 a barrel, as confidence that OPEC may finally agree to freeze output pushed futures into a bull market.
China voiced anger on Friday over a decision by Australia to rule out on security grounds the preferred Chinese bidders for an energy grid potentially worth more than $7 billion and restart the…
A deputy oil minister announced on Saturday that no part of oil debts to Iran is blocked in foreign countries due to banking problems.
Making serious attempts to attract foreign investment to develop joint oil and gas fields with the help of Iran's new oil contracts—known as Iran Petroleum Contracts or IPC—will help secure…
Iran is running out of time to introduce its new oil and gas contracts to internationals in what has turned into a costly political dispute at home, National Iranian Oil Company's director for…
Iraq plans to double the volume of crude it pumps via a pipeline to Turkey to its regular rate of 150,000 barrels per day next week, an official at state-run North Oil Company told Reuters on…
Iran’s crude oil exports were flat in June at just over 2 million barrels per day and production at 3.610 million bpd was steady from the previous month, official data showed on Friday.
Saudi Arabia's oil exports rose in June as the kingdom kept the market well supplied, pumping near record high levels of crude to feed rising local and international demand. Crude exports in June…
Jam Petrochemical Company in Asalouyeh, Bushehr Province, has unveiled eight products indigenized by Iranian experts.
Iran and India are expected to sign a deal on developing Farzad-B Gas Field in the Persian Gulf by the end of next month after years of negotiations.
National Iranian Gas Company can increase natural gas export to Turkey to 36 million cubic meters per day through the existing infrastructure, managing director of NIGC said.
"Iran' gas…
New petrochemical projects in Iran will receive cheaper gas feedstock as part of the government’s incentive to spur growth in the key petrochemical sector, the director for production control at…
