Oil services company Petrofac will reopen its office in Iran, its chief executive said on Wednesday, as the lifting of western sanctions on Jan. 16 allows foreign companies to rekindle business…
Energy
Iran's gas output will exceed the 1-billion-cubic-meter-per-day mark in the next Iranian year [starting March 20, 2016], in line with plans to overtake Qatar's production from the giant South Pars…
A subsidiary of the National Iranian Oil Company recently held talks with officials of Germany’s Butting GmbH in Tehran to expand cooperation in pipeline production.
Iran’s energy sector pays $12 billion of its annual revenues to Targeted Subsidies Organization, a deputy oil minister said.
Mohammad Mehdi Rahmati also criticized the monthly payment of…
The $64 billion tie-up of Royal Dutch Shell with BG Group and the steady growth of Exxon Mobil Corp. are creating a new league of two: the ultramajors.
At least 3,000 barrels of crude oil have been spilled in an Amazonian region after leaks from Peru's main oil pipeline, the state oil company said.
The oil has polluted two rivers that at…
A Spanish firm, SERCOBE, is holding a new round of negotiations with Iran to become the first European firm to finance an Iranian petrochemical project in the post-sanctions era.
New York-based bond rating firm Moody's Investors Service on Monday released a new report suggesting Iran's return to global oil markets could be stymied by production…
Of the 70 million liters of gasoline consumed daily in the country, only 62 million liters are produced by domestic refineries, managing director of the National Iranian Oil Refining and…
Azerbaijan's President Ilham Aliyev arrived in Tehran on Tuesday for two days of talks to push the envelope in economic relations with Iran, more than a month after sanctions against it were…
Iran can sign $10-15 billion worth of energy projects under its new oil and gas contracts within the next 12 months, managing director of the National Iranian Oil Company said on Tuesday.
“…
An OPEC production cut does not appear close at hand, but the group is seemingly eager to participate in an effort to boost oil prices, OPEC Secretary-General Abdalla Salem El-Badri told…
Iran’s Oil Ministry plans to implement five megaprojects to form a knowledge-based oil industry under the sixth five-year development plan (2016-21), a senior official at the ministry said.
A state-run Indian firm is poised to seal a contract to build a $1.6 billion power plant in Bangladesh, beating out a Chinese competitor in the latest commercial tussle between the region's two…
The global oil glut will persist in 2017, limiting any chance of a price rebound in the short run as the surplus takes even longer to clear than previously estimated, according to the…
Qatar and Royal Dutch Shell have agreed to develop liquefied natural gas as fuel for use by the world's largest container shipping company, A.P. Moller-Maersk, Qatargas said in a statement on…
Oil Minister Bijan Namdar Zanganeh said Iran can turn into a regional hub for the production and export of oil and gas equipment in cooperation with German conglomerate Siemens.
He…
India has taken measures to boost its relations with Iran, especially in the petrochemical industry, India’s ambassador in Tehran said.
The decline in oil prices has been a blessing in disguise for international oil vessels, including Iran's tanker fleet that made 80% more revenue in 2015 year-on-year, an executive at the National…
Iran and Oman concluded a fresh round of talks on economic and energy cooperation on Sunday and set a six-month deadline to take their biggest joint economic project to a new level.
"The…
Nigeria backed Saudi Arabia and Russia in freezing oil production while giving Iran and Iraq a way out to regain some of their lost market share due to sanctions and war. The biggest oil producer…
Energy Minister Hamid Chitchian said Iran is ready to cooperate closely with Azerbaijan in renewable energy development projects.
Fifty-eight petrochemical plants are under construction across the country, a member of board of directors at National Petrochemical Company said on Sunday.
“Of the 58 complexes, six are…
Austrian energy company OMV said it was placing bets on opportunities in Iran, as it retools its upstream portfolio for growth in the weakened energy sector.
Consultations on a preliminary deal between leading oil producers to freeze output should be concluded by March 1 after a group led by Russia and Saudi Arabia reached a common position this week…
