Oil exporting countries in the Middle East lost a staggering $390 billion in revenue due to lower oil prices last year and should brace for even deeper losses of more than $500 billion this year,…
Energy
Indonesia's governor to OPEC said nothing had yet been signed with regard to a deal for Indonesia to import liquefied petroleum gas from Iran, noting that some impediments remained such as making…
Representatives of China Petroleum Engineering and Construction Corporation have traveled to Iran’s capital Tehran to evaluate petrochemical investment opportunities.
South Korea's Hyundai Engineering Company plans to sign a contract, worth $500 million, to build a 500-megawatt power plant in Zanjan Province.
Prior to South Korean President Park Geun-Hye…
Iran's oil exports are growing much more quickly than analysts predicted back in January when sanctions were eased. If the recovery continues at the recent pace, it could raise an interesting…
Saudi Arabia’s King Salman fired the water and electricity minister following public complaints over a surge in prices less than six months after the government cut utility subsidies.
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Oil Minister Bijan Namdar Zanganeh said his ministry is strongly against a legislation that mandates the sale of gasoline at two rates.
"Having two rates for gasoline leads to corruption…
Iran’s petrochemical projects need $77 billion in investment until 2020, which can be “easily” materialized, director for coordination and supervision at National Petrochemical Company said on…
Iranian energy companies can play a major role in generating electricity in South Africa from renewable resources, as the Persian Gulf country generates a part of its much-needed electricity from…
Extraction from South Pars Gas Field in the Persian Gulf will rise by 100 million cubic meters per day upon the completion of the field's phases 17-21. Ali Akbar Shabanpour, the managing director…
Authorities in the Italian port of Genoa declared a state of emergency Saturday as they battled to prevent tons of crude oil from spilling into the Mediterranean in the heart of the Riviera…
Oil Minister Bijan Namdar Zanganeh hoped Iran and South Africa will sign a memorandum of understanding on oil and energy trade when the two countries' presidents meet in Tehran on Sunday.
Halliburton Co. booked a $2.1 billion expense in the first quarter for cutting jobs and writing off assets, giving some results early and delaying the full earnings release as it strives to…
Sweden's Energy Minister Ibrahim Baylan on Saturday discussed the future of Tehran-Stockholm ties in the power sector in separate meetings with senior Iranian officials on Saturday.
Iran's Oil Minister Bijan Namdar Zanganeh said on Saturday last week's Doha meeting to freeze oil production, despite its failure, was a positive step and Iran would support any plan to stabilize…
Technical and economic feasibility studies for setting up the first Iranian petroleum coke company have been handed over to the French engineering firm Axens.
Plans have been devised to increase production capacity of petrochemical complexes by 6 million tons in the current Iranian year (started March 20, 2016).
Reliance Industries Ltd, India's biggest oil refiner, said it is looking to buy more crude from Iran, as the company seeks to rebuild ties to benefit from shorter shipping distances.
Venezuela's government said it will turn off electricity supply in its 10 most populous states for four hours a day for at least 40 days to deal with a severe power shortage. The power-saving plan…
Oil prices rose on Friday to $45 a barrel, heading for a third straight week of gains as market sentiment turned more upbeat despite persistent oversupply.
Traders said sentiment in the…
An official of the Society of Iranian Petroleum Industry Equipment Manufacturers said Iran is struggling with fundamentals to boost the export of oil industry equipment.
Danish wind energy company Vestas has started a new round of cooperation in Iran by helping generate electricity from wind, transferring the knowhow of wind power plants and turbines, and…
Ahead of the doomed Doha talks last weekend, Russia and Saudi Arabia said they were willing to discuss freezing oil output, but less than a week later both have threatened to ramp up production.…
Yadavaran Oilfield's production volume reached 50 million barrels in the last Iranian year (ended March 19, 2016), the field’s director said.
“The field’s first phase has made 98.6%…
Sweden's Energy Minister Ibrahim Baylan is slated to arrive in Tehran on Saturday to explore grounds for cooperation with Oil Minister Bijan Namdar Zanganeh. This will be the second and final leg…
