British oil and gas firm BP will pay more than $20 billion in fines to resolve nearly all claims from its deadly Gulf of Mexico oil spill five years ago, marking the largest corporate settlement…
Energy
The Research Institute of Petroleum Industry has worked out a 10-year roadmap to implement enhanced oil recovery techniques in Ahvaz Oilfield, Iran's second biggest onshore oilfield after Marun,…
Iran's gas import from Turkmenistan stood at 3.6 billion cubic meters in the first half of the current Iranian year (started March 21), said the director of gas supply division at National Iranian…
State-controlled Petroleo Brasileiro SA, struggling with the biggest debt load among global oil firms, on Monday cut capital spending plans for this year and next by $11 billion in the wake of a…
Libya's oil production has dropped to 300,000 barrels per day, less than a quarter of what it produced before the 2011 fall of former autocrat Muammar Gaddafi, mostly because of insecurity and…
Iran's petrochemical production capacity will reach 129 million tons per year by the end of the sixth five-year economic development plan (2016-21), generating an estimated $40 billion in annual…
Saudi Arabia cut pricing for November oil sales to Asia and the US, as the world’s largest crude exporter seeks to keep its barrels competitive with rival suppliers amid sluggish demand.
The UAE is investing $35 billion to diversify its energy mix and reduce its dependence on natural gas imports, the country’s energy minister said.
“We need to minimize our reliance on…
A high-ranking UK delegation met with Iranian oil officials in the capital Tehran on Monday to explore areas of energy cooperation.
Deputy Energy Minister Alireza Daemi announced water tariffs have increased by 10% for subscribers abiding by the consumption pattern and by 30% for high consumers as of September 23.
Without the latest technologies to increase production, there is a good chance that Iranian oilfields will be exhausted in the near future, says the deputy for technology and international affairs…
Iran exports around 1 million cubic meters of natural gas to Armenia, but the volume can significantly rise considering the untapped capacity of the Iran-Armenia gas export pipeline, head of the…
The Philippine unit of Royal Dutch Shell said on Monday it was looking to launch a long-delayed initial public offering sometime next year, and may sell even more than the minimum requirement of…
Iran may have to face a fivefold rise in gasoline imports in the near future, if the ground is not prepared for increasing compressed natural gas production, a member of Energy Commission at Iran…
A deal to export gas to Yerevan in exchange for electricity imports was discussed in a meeting between Oil Minister Bijan Namdar Zanganeh and his Armenian counterpart Yervand Zakharyan in Tehran…
Oil exports have increased 15% during the tenure of the incumbent Iranian government in the past two years, deputy oil minister for planning and supervision of hydrocarbon resources said.
Iran is losing $30 billion in annual revenues due to the delay in developing 10 phases of the South Pars Gas Field in the Persian Gulf, head of Majlis Planning and Budget Commission said.
Like many countries in the region before it, Saudi Arabia is on the brink of a perfect storm of interconnected challenges that, if history is anything to judge by, will be the kingdom’s undoing…
Officials said last week that oil and gas majors Total and the Royal Dutch Shell have been given the green light to build the first commercialized gas stations in Iran under their brand names, but…
Moscow is ready to participate in consultations with the Organization of the Petroleum Exporting Countries on the current situation on the global oil market, Russian…
Global oil investments this year are on track to drop by 20%, marking their biggest decline in history, Fatih Birol, head of the International Energy Agency, said on Friday.
The halving of…
British oil and gas major BP confirmed it sent a team of managers to Iran in September to secure a place in the country's lucrative oil and gas market following the lifting of sanctions against…
Three new floating storage units have been launched in the Persian Gulf and are ready to operate, said director of Iran Oil Terminals Company. "The previous sales record for gas condensate has…
Preliminary measures have been taken for Iran to reenter international and European markets, says managing director of National Iranian Tanker Company (NITC), Ali Akbar Safaei.
"Improving…
US energy firms cut 26 oil rigs in the latest week, the biggest reduction since April and the fifth straight weekly decline, a sign that low prices are pushing drillers away from the well pad. The…
