Norway took a partial step in divesting oil and gas stocks in its massive $1-trillion wealth fund, approving the sale of smaller exploration companies while sparing the biggest producers such as…
Energy
South Korea overtook China as the No. 2 destination for US crude behind Canada in 2018, as shipments to South Korea soared to a record high of 558,000 barrels per day in December while shipments…
Oil prices dropped by more than one % on Friday as clouds gathered over the global economy after the European Central Bank (ECB) warned of continued weakness and fresh data showed Chinese…
The Persian Gulf Petrochemical Industries Company is looking closely at ways to add value to its output and is building petrochemical plants estimated to cost $8.5 billion, the managing director…
Gasoline inventory is at 1.6 billion liters, which is up 400 million liters compared to the same period last year. The National Iranian Oil Products Distribution Company had stored 1.2 billion…
Energy Ministry owes 3,000 billion rials ($22 million) to contractors involved in renewable energy projects, the head of Iran Electricity Industry Syndicate said. "As per last year's budget,…
Oil prices fell on Wednesday as bullish output forecasts by two big US producers and a build in weekly US crude stockpiles outweighed OPEC-led production cuts. International Brent crude futures…
An estimated $3 billion has been invested in almost 1,000 water and power projects in several cities in Khuzestan Province, the Energy Minister said on Tuesday. Reza Ardakanian was speaking at…
Production of gasoline compliant with Euro-5 emission standards started in Tabriz Oil Refining Company in East Azarbaijan Province on Wednesday, managing director of the company said. “…
Feasibility studies to build the second desalination unit in the northern Golestan Province are over and construction work will start soon, managing director of the provincial Rural Water and…
China said it will form a national oil and pipeline company, the first public acknowledgment of the massive energy industry overhaul planned since at least 2014.
OPEC and its allies will probably achieve their goal of draining oversupply from the oil market and boosting prices by next month, says Jeff Currie, global head of commodities research at…
Iraq is willing to boost technical cooperation with Iranian power engineering firms, the Arab country’s electricity minister said. Luay al-Khateeb made the statement at the opening ceremony of…
The amount of associated petroleum gas burning out from the 8th South Pars Refinery has reached zero, managing director of the refinery said Tuesday. "Optimization of sulfur recovery and ethane…
Developing Phase 14 of South Pars Gas Field along with the Kish Gas Field are among priorities of Pars Oil and Gas Company in the next fiscal (begins March 21), the managing director said Monday…
Bushehr Nuclear Power Plant in the southern namesake city has temporarily been shut down for technical overhaul, head of the plant said. "This year's overhaul involves partial disassembly of…
The sole hydroelectric power plant in Isfahan Province will restart operation next week, said the deputy of conservation and utilization at the Isfahan Regional Water Company. The power plant…
National Iranian Gas Company has started supplying compressed natural gas through pipelines to about 1,000 households in the city of Zabol in southeastern Sistan-Baluchestan Province, governor…
Energy Minister Reza Ardakanian says the Majlis has allowed his ministry to borrow €300 million from the National Development Fund of Iran for improve precautionary measures against…
Construction of a new ethylene oxide plant will begin soon in Andimeshk, Khuzestan Province, director of public relations of Persian Gulf Petrochemical Industries Company said Saturday. “The…
Kazakhstan plans to cut its oil exports by around 2% this year to 71 million tons, its energy ministry told Reuters, mainly at the expense of China, amid a production decline. This is…
The Majlis Joint Commission, a parliamentary body responsible for reviewing the budget bill, on Saturday approved the $500 million government-proposed funding for expanding rooftop photovoltaic…
Russian oil output stood at 11.34 million barrels per day in February, down some 75,000 barrels per day from the October level, the baseline for a global deal, but still missing the accord…
OPEC oil supply fell to a four-year low in February, a Reuters survey found, as top exporter Saudi Arabia and its Persian Gulf Arab allies over-delivered on the group’s supply pact while…
Although China will continue to raise its liquefied natural gas (LNG) imports this year, the 2019 rise in the world’s key LNG demand growth market may not be enough to absorb all the new supply…
