Russian Energy Minister Alexander Novak said on Wednesday he expected the 2018 price of Brent crude to be in the range of $45-55 per barrel.
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Japanese companies are likely to provide €220-230 million for a petrochemical venture, dubbed Veniran Apadana Methanol Project, in the southern port city of Asalouyeh, Bushehr Province.
Gas services company SOFREGAZ S.A. signed a $42 million deal with Iran's state oil company NIOC on Wednesday on collecting and reusing natural gas that is being burned off in South Pars Gas…
The Asian Infrastructure Investment Bank has announced as much as $210 million in debt financing in order to "tap" the renewable energy potential of Egypt.
Coming off its worst economic recession and a string of corruption scandals in the highest echelons of power, Brazil is banking on a new era in its key oil industry to pull through one of the…
Attracting much-needed foreign funds and having access to cutting-edge drilling know-how are among the most essential elements to develop untapped hydrocarbon deposits in the Caspian Sea, the…
OPEC members’ compliance with the agreement to reduce output has improved in recent months, Iran’s oil minister said on Monday, noting that unofficial talks were underway among oil producing…
The UK North Sea is on track for the biggest year of oil and gas field startups in a decade, continuing the aging province’s surprising resilience to the crude market slump.
An official at the National Iranian Oil Company says Iran is mulling over three scenarios to develop Farzad-B, a large gas reservoir in the Persian Gulf.
Indonesia’s Pertamina has received a license from the government to export diesel for the first time, three sources close to the matter said on Monday, although the state oil company is planning…
About 5.5% of the US Gulf of Mexico’s oil production, or 96,000 barrels of daily output, remained shut on Sunday after Hurricane Harvey made landfall in Texas more than a week ago, the federal…
Russia’s Zarubezhneft presented the result of its technical surveys on two Iranian joint oilfields with Iraq in a meeting in Tehran on Monday.
Oil Minister Bijan Namdar Zanganeh says the ministry's top priority is to accelerate the proceedings to sign new oil and gas agreements with international contractors as a policy to defuse US…
Benchmark global oil prices fell on Monday after a powerful North Korean nuclear test triggered a shift away from crude markets to assets perceived to be safer, such as gold.
Brent crude…
Iran's light crude oil traded at $51 per barrel in the week to August 25, up $1.24 in weekly trade.
The country's main exports grade, marketed as Iran Heavy, gained 96 cents to settle at…
Russia is likely to back a further extension of the OPEC agreement cutting oil output, judging that it has helped stabilize the market, the country’s deputy prime minister said.
Iran has unveiled a long-term solar energy storage system in the Science and Technology Park of Qazvin.
The storage system uses physical and chemical reactions to reserve solar steam,…
Iraq’s oil exports slipped to 3.21 million barrels per day in August from 3.23 million bpd in July, as no shipments were made from the northern Kirkuk field, the oil ministry said on Saturday.…
At least 13 toxic waste sites in Texas were flooded or damaged by Hurricane Harvey, adding on to the challenges as the area begins cleanup efforts following the deadly storm. The Environmental…
An international team of scientists is working on the biggest project in nuclear fusion in France to build the largest magnetic fusion machine—a tokamak—and test the commercial-scale viability…
Iran's petrochemical industry is on an upward trajectory, as data show an upswing in production and exports in recent months from last year's corresponding period.
Exports of gas condensates from South Pars Gas Field in the Persian Gulf in the first five months of the current fiscal year (started on March 21) experienced an 18% increase over the same…
Russian oil output slipped to a year-low of 10.91 million barrels per day in August from 10.95 million bpd in July, Energy Ministry data showed on Saturday, as Gazprom Neft suspended offshore…
The shutdown of almost a quarter of US crude refining capacity in the wake of Hurricane Harvey is presenting a rare opportunity for fuel traders in Asia. A spike in American gasoline prices as…
Pipe-laying operations have gained momentum to connect an offshore platform of Phase 14 and a second offshore rig for Phase 13 of South Pars Gas Field in the Persian Gulf to onshore facilities…
