Plans to hand over the distribution of petroleum products to the private sector are gaining momentum, following a directive issued by Oil Minister Bijan Namdar Zanganeh this week.
The…
Energy
iran energy news, Read the latest news about Iran’s oil and gas sector, renewable energy, electricity, water, and drilling industries.
Total SA posted first-quarter profit that beat analysts’ estimates, as cost cuts, rising production and resilient refining earnings helped the French company offset the slump in crude prices.
OPEC overproduction, China’s slowdown and the reentry of Iran to the oil market are issues weighing heaviest on the minds of oil industry executives, a new study has revealed.
Oil prices rose on Tuesday, boosted by a weaker dollar and by expectations that demand could grow quickly enough to match supply this year, although concern over a potential battle for market…
Saudi Arabia expects state oil company Saudi Aramco to be valued at more than $2 trillion and plans to sell less than 5% of it through an initial public offering, Deputy Crown Prince Mohammed bin…
Iran is planning to launch a joint venture with Russia to implement feasibility studies aimed at exploring deep-water reservoirs in certain regions, especially in the east.
Qatar will scrap gasoline and diesel subsidies next month, as the world’s richest nation per capita is set to plunge into deficit this year after more than a decade of budget surpluses. The world’…
Taiwan, once a small customer of Iran's crude, is planning to increase its imports from the Middle East nation, Taiwan's Deputy Foreign Minister Javier Ching-shan Hou said in Tehran on Tuesday.
British oil and gas firms BP and Royal Dutch Shell want to resume business with Iran, a senior Iranian official said, amid reports of some of the worst financial performances of the two majors in…
About 90% of gas requirements of petrochemical complexes will be met domestically by the end of the current Iranian year (ending March 20, 2017), director of production control at National…
South Korea is pushing to more than double its import of crude and condensates from Iran as part of efforts to boost its oil trade with the Middle Eastern country, industry sources said on Tuesday…
The 21st International Iran Oil, Gas, Refining and Petrochemical Exhibition will open in Tehran on May 5.
Tehran and Islamabad will resume talks on the protracted Iran-Pakistan Gas Pipeline project during a visit by Pakistan's Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi to Tehran…
Thanks to its plentiful supply of natural gas, Iran will soon overtake Saudi Arabia in petrochemical output, an official at the National Petrochemical Company said.
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,…
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.
…
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…
