Oil prices hit their lowest in 11 days on Tuesday on news that US shale oil output in May is expected to post the biggest monthly increase in more than two years, fuelling concerns that US…
Energy
iran energy news, Read the latest news about Iran’s oil and gas sector, renewable energy, electricity, water, and drilling industries.
Six international oil giants have completed their surveys and submitted plans to the National Iranian Oil Company for developing oil and gas reservoirs, chief executive officer of the NIOC said on…
Transparency in contracts with domestic companies operating in the oil and gas industry cut the cost of domestic petroleum projects by 20% in fiscal 2017-2018 compared to the previous year, an…
BP Plc said workers on Alaska's North Slope had brought under control a company-operated well that spewed oil and gas over the weekend. The leak was discovered on Friday and a team from BP, the…
Investors who took a hit last year when dozens of US shale producers filed for bankruptcy are already making big new bets on the industry's resurgence.
In the first quarter, private equity…
Oil majors will start reporting financial results for the first quarter later this month, prompting the usual flurry of analyst predictions, where some are very confident that Big Oil will make…
Crude oil slid lower on Monday on signs that the United States is continuing to add output, largely counteracting strong economic growth in China and OPEC efforts to cut production.
Seventeen petrochemical projects are to come on stream over the next two years raising annual output capacity to more than 70 million tons, said Marzieh Shahdaei, head of the National…
Almost $65 million (2.5 trillion rials) has been invested in infrastructure projects in the southern oil and gas regions, Ali Kardor, the chief executive officer of National Iranian Oil…
Iran has met 70% of its production target from South Azadegan Oilfield, a major onshore reservoir in the southern Khuzestan Province near the border with Iraq.
Phase 1 of Parand Wastewater Treatment Plant, 35 kilometers southwest of Tehran, is expected to be inaugurated on Tuesday by First Vice President Eshaq Jahangiri. According to IRNA, the plant,…
On April 6th, several Middle Eastern nations announced an ambitious energy project to establish an Arab Common Market for electricity. The energy ministers from 14 Arab countries signed a…
Some of OPEC’s biggest oil producers, including Saudi Arabia, are now targeting $60 a barrel as the level where they want to push crude prices, OPEC officials said, signaling they will support…
Oil Minister Bijan Namdar Zanganeh says Iran will continue to comply with an OPEC agreement to cut crude supplies as long as other members of the oil group maintain their production…
Chinese oil imports surged to an all-time high last month, overtaking the US as the world's biggest buyer of crude. March imports stood at 9.17 million barrels per day, according to the General…
President Hassan Rouhani on Sunday inaugurated $20 billion worth of gas and petrochemical projects in Asalouyeh, Bushehr Province, in what is hailed as the biggest launch of industrial projects in…
President Hassan Rouhani inaugurated $20 billion worth of energy projects in the city of Asalouyeh in Bushehr Province, on Sunday.
The National Iranian Oil Company and French energy giant Total S.A. are poised to finalize a major gas deal in the next few days, defying US President Donald Trump's antics against Tehran which…
Jordan-based Mass Group Holding (MGH) has partnered with GE to build a mega power plant near the Iraqi city of Baghdad which on completion will take the total power production of MGH in the…
BP Exploration Alaska told state regulators Friday that oil was spraying from a well onto a pad and possibly onto the snow-covered tundra.
The Alaska Department of Environmental…
China aims to create 10 "mega" coal producers by the end of the decade as part of its drive to consolidate the industry and tackle overcapacity, the official China Daily reported on Friday, citing…
Nigeria will revive oil production this summer as it completes maintenance and repairs, and expects fellow OPEC members to continue to cut their output in the second half of the year, Oil Minister…
Talks are underway between the National Petrochemical Company and Japan’s Sojitz Corporation on building a petrochemical plant with a total investment of €1 billion ($1.06 billion), said Hossein…
South Korea's intake of Iranian crude oil soared to a record high in March and its first-quarter crude imports from Iran nearly doubled on year, reflecting Tehran's efforts to raise output after…
The global oil market is moving closer to balance even as increases in US oil production push prices down in the short-term, Saudi Arabian Oil Co. Chief Executive Officer Amin Nasser said.
