Kuwait joined Saudi Arabia and Russia in supporting an extension of oil-output cuts by OPEC and other global producers through the first quarter of 2018 to help trim global stockpiles.
Energy
iran energy news, Read the latest news about Iran’s oil and gas sector, renewable energy, electricity, water, and drilling industries.
Tehran will refocus on tenders prepared for oil and gas field development projects after the presidential election on May 19, said Ali Kardor, chief executive officer of the National Iranian Oil…
Packaging giant Tetra Pak now uses renewable electricity for over one third of its total yearly consumption, up from 22% in 2015. In an announcement on Monday, the business said that a crucial…
Oil prices extended gains on Tuesday after top producers Saudi Arabia, Russia and Kuwait supported prolonging supply cuts until the end of March 2018 in an effort to drain a global glut.
The global oil market is rebalancing and the pace at which supply and demand are falling into line is picking up, even if inventories still fail to reflect the impact of OPEC supply cuts, the…
Oil rose more than 2% on Monday to $52 a barrel after top exporter Saudi Arabia and Russia said supply cuts needed to last into 2018, a step towards keeping an OPEC-led deal to support prices in…
Russian President Vladimir Putin said on Monday that extending oil output cuts for a further nine months was the right thing to do to ensure stable oil prices.
China's giant state-owned oil and gas firm Sinopec is planning to splash big money into a continued expansion abroad to shore up access to energy resources as Beijing touts its main foreign policy…
Production from the South Yaran Oilfield in the southern Khuzestan Province is expected to start in July, according to the chief executive officer of the Petroleum Engineering and Development…
After the easing of international sanctions and gradual normalization of trade ties with foreign firms, most of the equipment and machinery for the oil sector, held overseas, was released and…
Saudi Arabia and Russia, the world's two top oil producers, agreed on Monday on the need to extend oil output cuts for a further nine months until March 2018 to rein in a global crude glut,…
The National Petrochemical Company is stepping up efforts to support domestic manufacturers of oil, gas and petrochemical equipment.
Drilling operations in Kish Gas Field in the Persian Gulf has made 85% progress, according to the official portal of the state-run National Iranian Oil Company.
According to officials at…
Iranian crude oil traded down more than 4% to $45 per barrel in the week to April 28, showing signs of pressure from the slowdown in the global oil markets. Its light oil blend fell $1.93 to $45.…
The Caspian Pipeline—which runs from the giant Tengiz oilfield in Kazakhstan to a sea terminal near Novorossiysk in Russia—plans to increase exports to the world markets to 65 million tons this…
US-based oil company Cobalt filed for arbitration for a $2-billion suit against Angola’s state-run Sonangol oil giant last week, according to court documents found by Reuters.
Global oil markets will reach a supply-demand balance in late 2017 or early 2018 if a pact to cut output is extended, Russia's energy minister was quoted by local news agencies as saying.
Deputy Energy Minister Sattar Mahmoudi on Sunday broke ground for a 540 megawatt combined cycle power plant (CCPP) in Zahedan, the provincial capital of Sistan-Baluchestan Province, as part of…
Production from the oil layer of South Pars, the giant gas field shared between Iran and Qatar in the Persian Gulf, has exceeded 1 million barrels in less than two months, managing director of…
Total gasoline in Iran's inventories amounts to 200 million liters, said Abbas Kazemi, the managing director of the National Iranian Oil Refining and Distribution Company (NIORDC).
At least one person was killed in a fire that broke out in a ship carrying petroleum products docked at a port in Sharjah, UAE, on Saturday.
Days after a tight election made the Green Party a power-broker in Canada’s westernmost province; Justin Trudeau’s government is introducing a bill to ban crude oil tankers from using ports along…
India’s oil demand bounced back in April after falling for three consecutive months, recovering from the impact of the country’s move to withdraw high-value notes.
American drillers and natural gas exporters may see limited benefits from the US deal with Beijing to open Chinese markets to US natural gas, analysts say.
Philippine National Oil Company (PNOC) is negotiating with Iran's state oil company NIOC for a long-term oil supply deal to feed a new refinery to be constructed in the Southeast…
