Three export terminals on Russia’s Arctic coast shipped an average of 230,000 barrels of crude in the second quarter of 2016.
This figure is almost equal to Libya’s total daily exports,…
Energy
US oil producers continue to revive drilling in the shale patch, adding rigs for the fourth consecutive week in the longest streak of increases since August.
Schlumberger Ltd, the world's No. 1 oilfield services provider, said it expects a "significant global supply deficit" of crude oil, assuming steady growth in demand, given the sharp decline in…
Iran has significantly increased the export of condensates as more phases of its South Pars Gas Field come on stream, said Iraj Ghavami, head of the Asalouyeh Gas Terminal in Bushehr Province.…
Transfer of technology is a prerequisite of the new Iran Petroleum Contracts and a priority in negotiations with foreign academia related to energy projects, the National Iranian Oil Company’s…
Natural gas production from the South Pars Gas Field will rise by 56 million cubic meters per day after the installation of two new extraction platforms for phases 20 and 21, Abol Qassem Rahmani,…
South Korea's Wolsong No.1 nuclear power reactor shut down on Friday after its safety system detected a technical problem, the country's nuclear reactor operator said.
Crude futures were on track for weekly losses on Friday as investors reassessed US data on oil stocks and excesses in oil products in Europe and Asia.
While many expect global oversupply of…
Husky Oil said a leak from one of its pipelines on Thursday spilled about 200,000 liters, or around 1,250 barrels, of heavy oil mixed with a thinning chemical into the North Saskatchewan River…
The second phase of Kavian Petrochemical Complex, Iran's largest ethylene production plant, has been launched in the southern city of Asalouyeh, said Ramezan Ouladi, the chief executive of company…
Iran is in talks with Mitsui & Co. Ltd. and Total SA as part of its plans to attract $60 billion in foreign investment to more than double the capacity to produce petrochemicals in a…
Tabriz Refinery will start production of diesel compatible with the Euro-5 emission standard as soon as the desulfurization unit of the plant becomes operational, head of the refinery said.
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Iran can see a substantial rise in power production from wind by 2021, said the chief executive of the European Wind Energy Association who was in Tehran this week for a conference on renewables…
Russian Energy Minister Alexander Novak said in a statement he has ruled out possible coordination with OPEC on oil output after a failed attempt to jointly maintain production levels earlier this…
China's crude imports from Iran rose 16.1% in June over a year earlier to 780,175 barrels per day, up from 671,176 barrels in May. Imports for the January-June period also gained 2.5%.
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Halliburton Co., weighed down by the drilling slump in North America, sees the market turning around in the second half of the year.
The world’s largest provider of hydraulic-fracturing…
Barclays expects oil prices to reach $85 per barrel by 2019, a year sooner than it previously forecast, the British multinational and financial services company said in a report.
Few…
France’s IFP Energies Nouvelles has expressed interest in collaborating with Iran’s Research Institute of Petroleum Industry, the Oil Ministry’s scientific arm, in state-of-the-art oil recovery…
Lloyd’s Register held an exclusive one-day event in Tehran last week to share knowledge and experience with Iranian companies to optimize their oil and gas operations through enhanced oil recovery…
Iran will strongly support domestic and foreign investments in its power industry, Energy Minister Hamid Chitchian said, as the country pushes for raising the share of renewable energy and add…
The National Iranian Oil Company and South Korea's Daelim Industrial Co. have signed a memorandum of understanding, worth $4 billion, on upgrading the Isfahan Oil Refinery.
Saudi Aramco signed four engineering contracts to build its Fadhili gas processing project, the company announced at a press conference on Wednesday. The contracts, with firms including…
The pace of North Sea oilfield shutdowns is picking up as the impact of the market slump is compounded by the uncertain investment environment created by Brexit.
Arab countries exported $50.4 billion worth of crude oil in the first quarter of 2016, according to data reported by local Arab media. This is $24 billion less than the value of crude exports by…
A privately-owned Iranian company is planning to introduce a cutting-edge wind power generation system that could mark a turning point in the country's renewable energy sector.
Watt-Wind…
