Optimizing energy use could unlock between $900 billion and $1.6 trillion in savings globally in 2035, according to a new report by the McKinsey Global Institute.
Energy
Oil traders for the last two weeks have shrugged off reports that US stockpiles are brimming at their largest levels ever recorded, as the market continues to bet that crude prices will climb…
The biggest oil producers in the Middle East are helping crude from Western Siberia go where it has rarely gone before.
Tehran will hold tender for more than a dozen oil and gas exploration blocks in summer, Saleh Hendi, the head of exploration department at the National Iranian Oil Company, said.
"After…
In line with policies to develop petrochemical projects, negotiations are underway with France's Axens to provide Kian Petrochemical Company (KPC) with technical expertise to produce high value…
Belarus has made its first purchase of Iranian crude oil after the lifting of international sanctions against Tehran last year, media reported on Friday, as Minsk is making efforts to reduce its…
Iraq plans to acquire a "large fleet" of oil tankers to transport the OPEC nation's crude to global markets, Oil Minister Jabar al-Luaibi said in a statement on Friday. The nation's tanker fleet…
Oil slipped further below $56 a barrel on Wednesday as an industry report showing a large rise in US crude inventories signaled ample supply, even as OPEC achieves record compliance with its…
Solar power installations doubled in 2016 over 2015, as more and more areas of the United States began pulling their power from the sun.
For the first time, solar power installations formed…
Eni SpA will start producing from the giant Zohr natural gas field off Egypt’s Mediterranean coast by the end of 2017 and plans to invest $10 billion in the North African country over the next…
A British drone operator has won a contract to inspect rigs operated by one of the world’s largest oil producers. Sky Futures Ltd. will deploy drones at Eni S.p.A. facilities as part of a global…
India's oil imports from Iran more than trebled in January compared with the same month of last year and South Korea's intake more than doubled from a year ago as the Middle Eastern country…
The development of joint oil and gas fields is the mainstay of Iran's petroleum industry, Oil Minister Bijan Namdar Zanganeh said, underlining that shared fields with Iraq and Qatar top Tehran's…
In line with policies to expand oil markets in Southeast Asia, an Iranian tanker is on its way to Indonesia’s Cilacap Port to unload its crude oil cargo, the first Iranian vessel to sail to the…
Oil strengthened slightly on Tuesday, supported by an OPEC-led effort to cut output while rising production elsewhere kept prices within the narrow ranges that have contained them so far this year…
The future of Britain's new Moorside nuclear plant was thrown into doubt on Tuesday after Japan's Toshiba Corp, which is developing the project with France's Engie, said it planned to pull out of…
International energy majors, namely Norwegian oil and gas company DNO, Russia’s Gazprom Neft PJSC and Thailand’s state-owned PTTEP, are conducting studies to develop Changuleh Oilfield in western…
The nation most identified with its massive oil reserves is turning to wind and solar energy to generate power at home and help extend the life of its crucial crude franchise.
Starting this…
India’s monthly oil demand fell the most since May 2003 as the government’s crackdown on high-value currency notes continued to reverberate through the country’s $2 trillion economy.
Fuel…
Kuwait Petroleum Corp expects to spend 35 billion dinars ($114.8 billion) on oil projects in the next five years, its chief executive officer said on Monday, adding 30% of the amount would be for…
Iran’s revenues from the export of petrochemical products fell by around $660 million in the 10 months to January 19 compared with the corresponding figure of previous year, reflecting the slump…
Iran's crude oil production rose by 50,200 barrels per day in January over the previous month, reaching 3.75 million bpd, OPEC said in its monthly report on Monday, citing secondary sources.
Tehran is in talks with PetroChina Company Ltd on collaboration and transfer of knowhow in the petrochemical sector, the deputy chief of Iran's Association of Petrochemical Industry Corporation…
Global demand for oil could outdo the ten-year average in 2017 as the health of the world economy improves and demand for road transport continues to grow, OPEC's latest monthly report has…
Sri Lanka has launched a tender to develop a gas block in the Mannar Basin off its northwest coast, vacated when Cairn India pulled out of an exploration project in 2015 as oil prices plunged,…
