Energy

BP and the State Oil Company of the Republic of Azerbaijan (SOCAR) signed a new production sharing agreement (PSA) to jointly explore for and develop potential prospects in the shallow water area…

Turkey's Tekfen Holding sain on Tuesday its construction unit Tekfen Insaat secured a $565 million deal as part of Trans-Anatolian natural gas pipeline project (TANAP). The deal will involve…

Seoul prosecutors have launched an investigation into a leak of non-critical data at South Korea's nuclear power operator, the prosecutors' office said on Sunday, as worries mount about nuclear…

Instead of letting fuel prices fall, several countries are taking advantage of lower oil prices by scrapping fuel subsidies.

Saudi Arabia's oil minister on Sunday defended OPEC's decision to keep output steady despite the biggest market slump in years, saying current prices would help global economic growth and…

Iran and Armenia are scheduled to meet in January to review, and revise the terms of their electricity-for-gas swap deal, Tasnim news agency reported Sunday.

All power plants will use natural gas as feedstock in the next Iranian calendar year (starts March 2015), human-environment deputy at the Department of Environment (DoE) said, Shana news agency…

Global petrochemical markets are estimated to grow at a rate of 6.8% per year from 2014 to 2020, Arabian Oil & Gas reported.

Kuwait Foreign Petroleum Exploration Company (KUFPEC) announced that its Chinese subsidiary has three agreements covering three new exploration blocks located in the South China Sea. In the event…

Residents of Tehran Province can now register for the installation of one kilowatt solar energy panels on their roofs, Seyed Ali Barband, the head of Tehran Electricity Distribution said.

Low oil prices will last long enough for one of two events to happen. The first possibility, the one most traders and analysts seem to expect, is that Saudi Arabia will re-establish OPEC’s…

More than 10 million barrels of gas condensate is exported annually from Siraf port, in Bushehr Province, a senior official at Siraf terminal said.

Iran has the capacity to generate $15 billion in revenues annually from the export of technical and engineering services in the electricity sector, secretary general of Iran’s Federation of Energy…

The National Petrochemical Company (NPC) has paid nearly $4.5 billion of its outstanding debts to foreign banks and financial institutions, said the managing director of Petrochemical Commercial…

Kish Free Economic Zone will be converted into an oil trade center, managing director of Manufacturing Support and Procurement Kala Naft Company was quoted by Shana news agency as saying.

Iran will become self-reliant in gasoline production by March 2016, managing director of the National Iranian Oil Production and Distribution Company (NIOPDC) said, ISNA reported Thursday.

Annual revenue of South Pars Gas Complex (SPGC) has reached $56 billion with production of 270 million cubic meters of gas, 400,000 barrels of gas condensate, 8,000 tons of liquefied natural gas (…

There are some 600 unfinished water distribution projects across the country, deputy energy minister said, Fars news agency reported Friday. Rahim Meydani said, “The projects will take…

Saudi Arabia’s oil chief said in comments published Thursday that there are no links between the kingdom’s decision to oppose production cuts and political objectives - an apparent response to the…

Norwegian energy firm Statoil has awarded an integrated drilling and well services contract for its Mariner field in the British sector of the North Sea to Schlumberger, Reuters reported. "A total…

Drilling for oil and gas at an exploration block off Bulgaria's Black Sea coast will be delayed until early 2016 following the fall in global oil prices, French oil firm Total said, Energy Global…

Iran agreed to cooperate with Armenia to conduct preliminary assessments for oil and gas exploration in Armenia during the 12th Iran-Armenia joint economic cooperation commission in Tehran, said a…

The member-states of the Gas Exporting Countries Forum (GECF) failed to adopt any joint decisions on Tuesday after discussing the gas price situation, Russian Energy Minister Alexander Novak said…

Small (2MW) wind turbines have been installed as part of Binaloud wind farm development plans, in the eastern province of Khorasan Razavi, said the province’s electricity company, IRNA reported…

Iraq's semi-autonomous region of Kurdistan will see a steady rise in oil exports in the coming months, moving it closer to economic self-sufficiency, while it is still hoping to clinch a final…