OPEC can rest easy even on the off chance that President Donald Trump’s plan to sell US oil reserves comes to fruition, according to Goldman Sachs Group Inc.
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OPEC and non-member oil producers could deepen output cuts or extend them for a year when they meet in Vienna this week as they seek to clear a global oversupply and prop up the price of crude,…
It is unlikely that Iran will reduce its crude oil output but will go along with an OPEC decision to extend supply cuts to help boost prices, Oil Minister Bijan Namdar Zanganeh said.
"Iran…
OPEC will likely agree to extend production cuts for another nine months, delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude.
The White House plan to trim the national debt includes selling off half of the nation’s emergency oil stockpile, part of a broad series of changes proposed by President Donald Trump to the…
Iran's share in the global natural gas trade should increase to 10% by 2025, the managing director of National Iranian Gas Company (NIGC) said.
"Although the country holds the world's…
Iran's crude prices extended their recent losses into the week to May 12, mirroring the withering effect of a global initiative to cut down supplies and lift stubbornly low prices.
The National Petrochemical Company says it aims to raise petrochemical output to more than 58 million tons in the present fiscal that ends in March 2018 from 50.6 million tons in the…
With the aim to produce quality machinery and equipment for the oil and gas industry, the National Iranian Oil Company is to sign an agreement with a Spanish consortium to manufacture special…
The National Iranian Tanker Company has signed more than 70 contracts to lease vessels to international customers since the lifting of international economic sanctions last year, NITC chief Sirous…
Oil Minister Bijan Namdar Zanganeh will visit Vienna on Wednesday to participate in the annual meeting of OPEC ministers on May 25. The 13-member group will discuss extending an agreement to cut…
Oil prices rose on Monday as a weaker dollar and the delay of new Libyan oil exports boosted benchmarks, amid expectations of tighter crude supply going into 2017. Brent crude futures traded at $…
The National Iranian Gas Company (NIGC) is planning to hold international tenders for several small-scale liquefied natural gas projects, also known as mini LNG, Hamidreza Araqi, the company’s…
The National Iranian Oil Company has approved a plan envisioning its target for crude oil and natural gas production in the present fiscal that ends in March 2018.
The Persian Gulf Petrochemical Industries Company (PGPIC) has reached a preliminary agreement, worth €3 billion ($3.37 billion), with an unnamed European company on building a petrochemical plant…
Iraq has achieved its share of the production cuts agreed by OPEC and non-OPEC producers at the end of last year but remains ready to meet future oil demand growth, Iraqi Oil Minister Jabar al-…
BP Plc started a project in the UK North Sea that will restore production halted since 2013 and help double the company’s output in the area by the end of the decade.
The National Iranian Oil Company has received oilfield development proposals from international companies that together target a 3-million-barrel increase in daily crude oil production capacity,…
Swiss voters are set to back the government's plan to provide billions of dollars in subsidies for renewable energy, ban new nuclear plants and help bail out struggling utilities, broadcaster SRG…
Nigeria’s manager-level oil union will continue a strike indefinitely at Exxon Mobil’s local unit following a decision by the American oil major to lay off more than 80 workers, threatening output…
Saudi Arabia's energy minister said on Sunday that extending the current agreement on global oil supply cuts until March next year, and adding one or two small producers to the pact, should be…
The National Iranian Tanker Company is willing to expand cooperation with Indian refiners and help ship their petroleum products to target destinations.
Managing director Sirous…
The Iranian Offshore Oil Company (IOOC) is taking measures to increase production from oilfields in the Persian Gulf whose output took a hit when international sanctions were in place, Hamid…
The government has given license for construction of two solar power plants in the city of Mehriz in Yazd Province, a local official said on Sunday.
Siemens, a global technology powerhouse, said it has achieved a major milestone by completing the extensive service works of the gas turbines at Jebel Ali K-station, Dubai, in a record time of…
