Oil prices rose on Tuesday on news of lower Russian production and expectations that major OPEC exporters would extend output cuts into the second half of the year.
Energy
The number of compressed natural gas (CNG) stations has reached 2,380, an official in charge of constructing CNG stations at the National Iranian Oil Products Distribution Company said.
Tehran mayor and presidential candidate Mohammad Bagher Ghalibaf claimed last week that the municipality "is producing electricity from waste." The statement, aired during a live presidential…
There is a need to reduce the export of gas condensates because the ultra light crude can and should be processed into petroleum products with higher value-added, managing director of Tamin…
Libya's oil production has risen above 760,000 barrels per day, its highest since December 2014, the National Oil Corporation (NOC) said on Monday. Chairman Mustafa Sanalla said in a statement the…
International energy majors Total S.A. and BP Plc have opted not to participate in Iran's upcoming annual oil exhibition that will get underway later this week, director of public relations at the…
OPEC is certain to extend cuts in oil output when its ministers meet later in May and will need to keep limiting production until as late as the end of 2018, a veteran market analyst said.
New contracts with international oil majors will help create thousands of jobs and plough billions of dollars into the key petroleum industry, according to Reza Khayyamian, head of the Society…
The Energy Ministry’s Niroo Research Institute and MAPNA Group on Monday signed a memorandum of understanding to manufacture F-class gas turbines for power plants.
BP plans to complete by mid-2018 the Georgian section of a $40-billion strategic pipeline bringing Caspian gas from Azerbaijan into Europe, the British energy company's country manager for Georgia…
State oil giant Saudi Aramco plans to launch its overhauled Muajjiz oil terminal on the Red Sea next year, lifting its total loading and export capacity to as much as 15 million barrels per day,…
Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-led production cuts aimed at clearing a supply glut.
Global benchmark Brent…
Many carmakers, and not just Tesla, have been developing electric vehicles, betting on the expected continuous rise of battery-powered cars in the future. Now it’s not only carmakers that predict…
Libya’s crude production rebounded to more than 700,000 barrels a day as the OPEC member’s biggest oilfield and another deposit in its western region resumed pumping after a halt.
International and domestic private companies in the renewable energy industry will be eligible for tax holidays for 5-13 years as part of incentives to prop up investment in the nascent renewable…
Tehran will support a decision to extend an OPEC-led agreement to cut crude oil supplies and lift sagging prices if other members of the Organization of Petroleum Exporting Countries continue to…
Iran would start construction of a nuclear safety facility in cooperation with the European Union soon, the head of the Atomic Energy Organization of Iran said Saturday.…
More than 40% of Iran's petrochemical output is shipped to buyers in South East Asia and the Far East, National Petrochemical Company's coordination and supervision director said on Sunday, adding…
President Hassan Rouhani on Sunday officially launched Phase 1 of the Persian Gulf Star Refinery in the city of Bandar Abbas in southern Hormozgan Province which is hailed as the Middle East's…
Supply and demand in the oil market could fall into balance by the end of this year if OPEC and its partners extend their deal to reduce crude output, a Reuters' survey forecast on Friday.
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ExxonMobil and Chevron, the two largest US oil groups, have reported earnings for the first quarter that show sharp improvements thanks to the rebound in oil and gas prices but also lasting…
The petrochemical sector, one of the key industries after oil and gas, has huge potential for growth and development, but officials and experts are warning against unrealistic expectations and…
Plans call for raising electricity production capacity by 150 megawatts via small-scale power plants and minimize the risk of power outages during the hot summer season, Arash Kordi, managing…
US President Donald Trump on Friday signed an executive order aimed at expanding offshore oil and gas drilling in the Arctic and Atlantic Oceans — and maybe even in the Pacific Ocean.
The…
Europe is ready to expand economic and energy cooperation with Iran and provide the country with much-needed expertise to rein in harmful emissions, the European Commissioner for Climate Action…
