Royal Dutch Shell has suspended loadings of oil products from the Pernis refinery after a fire caused the shutdown of most of its production. The extent of damage was being investigated. The night…
Energy
iran energy news, Read the latest news about Iran’s oil and gas sector, renewable energy, electricity, water, and drilling industries.
South Korea's Hyundai Heavy Industries has won a contract worth $600 million from Vitol, the world's largest independent oil trader, for as many as eight gas tankers. The world’s largest…
The National Iranian Drilling Company has completed drilling operations at two developmental wells in the joint South Azadegan oilfield in Khuzestan Province, the director of the project said on…
Iran's crude oil traded near $47 per barrel in the week to July 21, increasing more than 6% from the end of last month and reflecting a recovery in the global market.
Caution lights are flashing for the oil industry.
Facing lower-than-expected commodity prices, drillers from ConocoPhillips to Hess Corp. to Statoil ASA have slashed their capital spending…
In line with efforts to play an active role in the development of South Pars Gas Field's Phase 11, domestic oil and gas equipment manufacturers are planning to establish a consortium for the…
China's import of US crude oil crossed 1 million tons for the first time in June, an eightfold rise year-on-year, as elevated Dubai prices prompted both state and independent refiners to use it as…
JPMorgan Chase will rely solely on renewable energy by 2020, the company said in a statement. To meet its goal, the banking and financial services company will install on-site renewable energy…
Iran produced some 18 million tons of petrochemicals and polymers in the first four months of the current fiscal year (March 21-July 22), meeting nearly one-third of its production target for the…
Iran's crude oil exports to European Union countries in the first four months of the year reached 9.31 million tons, more than six times higher than those in the corresponding period last year.…
Oil prices edged higher on Friday, reaching new two-month highs and posting the strongest weekly percentage gains this year as investors digested signs of an easing oversupply.
Representatives of some OPEC and non-OPEC nations will meet in Abu Dhabi, the UAE, on Aug. 7-8 to discuss why some of them are falling behind in their pledges to cut production, an OPEC statement…
Many outdated Iranian oil and gas refineries are posting losses or hardly operating at breakeven point, but a new wave of foreign investments will help the aging facilities significantly bump up…
The Oil Industries Engineering and Construction Company (OIEC) and Russia's Gazprom Neft signed a memorandum of understanding on Thursday in the Russian city of St. Petersburg to join forces in…
Iran's economy could have plunged into an "oil-for-food" crisis if sanctions against its banking and energy sectors were still in place, Oil Minister Bijan Namdar Zanganeh said in an interview.
China has successfully produced natural gas from methane hydrate, also known as "flammable ice", in an experimental project in South China Sea, its land and resources ministry said on Saturday.
In line with policies to expand power generation infrastructure, Energy Minister Hamid Chitchian launched a 20-megawatt photovoltaic power complex in Kerman Province on Thursday and broke ground…
Iraq is looking to increase natural gas imports from Iran within an agreement that would allow the Arab country to receive up to five times more gas from the current level.
Oil prices edged higher on Friday, reaching fresh two-month highs and are on track to post the strongest weekly gains this year, as investors digested signs of an easing oversupply picture.
Royal Dutch Shell is gearing up for a world of "lower forever" oil prices, its CEO Ben van Beurden said on Thursday, after the company's profits tripled in the second quarter.
The oil and…
US crude oil production will average 9.3 million barrels per day in 2017 before reaching an all-time high of 9.9 million bpd in 2018, the US Energy Information Administration forecast.
Saudi Arabia’s financial advisors are recommending that London, not New York, should host Saudi Aramco’s initial public offering, set to take place next year, according to sources who spoke to…
The rebalancing in the oil market is accelerating, said Goldman Sachs in a note on Thursday.
"While OPEC's production path remains uncertain, recent fundamental oil data have come in even…
Oil prices firmed on Wednesday, holding near eight-week highs, as a fall in US inventories bolstered expectations that the long-oversupplied market was moving toward balance.
Brent crude…
The United Arab Emirates will import the country's first oil cargo from the United States, two sources familiar with the matter said, as the OPEC producer sought substitutes to replace Qatari…
