Japan's Itochu Corporation signed a deal on Saturday to lend €320 million ($341 million) to the Persian Gulf Petrochemical Industry Company (PGPIC) for infrastructure development.
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State-owned National Petrochemical Company is negotiating with France's Air Liquide global E&C Solutions (formerly Lurgy GmbH) on construction of a polypropylene production plant in the…
Oil pricing agency Platts is considering the first major overhaul in nearly a decade of its benchmark dated Brent assessment, which is used for most of the world’s crude trade. It may add…
A boom in electric vehicles made by the likes of Tesla Motors Inc. could erode as much as 10% of global gasoline demand by 2035, according to the oil industry consultant Wood Mackenzie Ltd.
Russia's largest private oil company Lukoil expects that oil prices will be around $60 per barrel in 2017, Lukoil vice president Leonid Fedun said.
"Over the next year the price of $60 per…
OPEC will meet non-OPEC countries to iron out the details of a global oil limiting pact on December 10 in Vienna, two sources told Reuters on Saturday. Two OPEC sources earlier said the meeting…
Iran's natural gas production from the giant South Pars Gas Field will reach 515 million cubic meters per day by the end of this month as total production is planned to exceed 540 mcm/d by the end…
OPEC’s agreement to cut production for the first time in eight years has the potential to balance the oil market, as long as everyone sticks to it, former Saudi Arabia oil minister Ali al-Naimi…
New loading facilities have been installed off the coast of Asaluyeh in southern Bushehr Province to enhance export of gas condensates via large vessels.
A historic deal OPEC struck on Wednesday to cut oil output and place production ceilings for each member was a major victory for both Iran and Saudi Arabia, says an economist.
The…
Low oil, natural gas and coal prices will continue to put downward fiscal pressure on US states that rely on those resources to fund their budgets, ratings agency Fitch said.
Imports of crude oil by Iran's four major buyers in Asia in October more than doubled from a year ago as the producer continued to recoup market share lost under sanctions, pushed higher as the…
Iran’s largest wastewater treatment plant was inaugurated by President Hassan Rouhani on Thursday in the city of Mashhad, the provincial capital of Khorasan Razavi.
Ghadir Investment Company is negotiating with Italy's oil giant Eni and Russia's Lukoil to jointly develop an offshore as well as an onshore oilfield in the west and south Iran, the company's…
Oil prices steadied at around $53.50 a barrel on Friday after the biggest weekly rally in seven years following OPEC's decision this week to cut crude output in order to rein in a global glut.
A prominent economist has welcomed an OPEC accord to cut crude output as a win-win deal that protects Iran's national interest, asserting that the agreement could set a precedent to resolve…
Iran’s Persian Gulf Petrochemical Industries Company is in talks with Asian firms to raise an estimated $1.1 billion for expansion programs, including a methanol project to serve China and other…
Oil prices edged higher on Monday, after falling as much as 2% in early trading, as the market grappled over the shaky prospect of major producers being able to agree output cuts at a meeting on…
The Obama administration signed its final plan for renewable fuel use in the United States last week, leaving an oil industry reeling from the most aggressive biofuel targets yet as president-…
Swaupe International Ltd is in talks to construct a 400 megawatts power plant in Chabahar Free Trade Zone, managing director of CFTZ Organization said.
OPEC was trying on Monday to rescue a deal to limit oil output as tensions grew among the producer group and non-OPEC member Russia, with top exporter Saudi Arabia saying markets would rebalance…
National Iranian South Oil Company (NISOC) signed a memorandum of understanding with Schlumberger Ltd, the world's leading oilfield services provider, to study three oilfields in the southern oil-…
As per a directive issued by Oil Minister Bijan Namdar Zanganeh the National Iranian Gas Export Company has been liquidated and handed over to the National Iranian Oil Company (NIOC). Earlier…
China on Saturday formally launched a state-backed commodity trading center in Shanghai, as the world's top energy consumer looks to race ahead of other countries such as Tokyo and Singapore to…
Exxon Mobil, Anadarko Petroleum and their peers, along with big players in other industries, will face as many as 200 resolutions regarding climate change at their 2017 annual…
