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…
Energy
iran energy news, Read the latest news about Iran’s oil and gas sector, renewable energy, electricity, water, and drilling industries.
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…
Russia's top oil producer Rosneft is to invest another $500 million, as it raises its stake in the Petromonagas joint venture in Venezuela's Orinoco Belt region to 40%, Venezuela's President…
Greece’s Hellenic Petroleum will purchase 60,000–150,000 barrels of oil per day from Iran, deputy oil minister for international affairs said on Saturday.
“The Greek refiner will buy 60,000…
Iran wants to raise oil production capacity to 4.7 million barrels a day under a five-year plan, head of the National Iranian Oil Company was quoted as saying by Shana.
The National Iranian Oil Refining and Distribution Company is ready to distribute diesel compliant with Euro-4 and 5 standards nationwide, managing director of NIORDC said on Saturday.…
Iranian power plants producing about 3,000 megawatts are dilapidated, a senior official at Iran Power Generation, Distribution and Transmission Company (Tavanir) said on Saturday.
“Plans…
Oil prices fell by over $1 a barrel on Friday as talk of a plan by some producers to freeze output levels was tempered by continued concerns of an oversupplied market after a record build in US…
Selling gasoline via fuel cards is likely to be stopped in the near future, but diesel will be distributed as usual, managing director of National Iranian Oil Refining and Distribution Company…
Russia's First Deputy Energy Minister Alexey Texler said on Friday the global oil market was oversupplied by 1.8 million barrels per day, but that half of that glut could disappear if an output…
Kuwait signed a deal to export 100,000 barrels of oil per day with a major refiner, with a potential annual return of $2 billion, state news agency KUNA reported without giving details.
Russian Energy Minister Alexander Novak may visit Iran again in late February, a source in the Russian government said on Friday.
Reliance Industries, owner of the world's biggest refining complex, is preparing to buy oil from Iran next month after a gap of about five years, said an industry source with knowledge of talks…
