Tehran is keen on raising crude oil output and expand its footprint in the global market despite being part of a pact that took effect this month to cut oil supplies, said Saeed Khoshrou, National…
Energy
OPEC’s campaign to prop up oil prices is getting unlikely support from its biggest customer. China’s production is forecast to fall by as much as 7% this year, extending a record decline in 2016,…
Oil production in Asia-Pacific is declining at a rate not seen elsewhere in the world, with around half of losses coming from China alone, Wood Mackenzie has warned.
"We estimate 2016…
Japan's Inpex Corp said on Monday it had agreed with Abu Dhabi National Oil Co. (ADNOC) to extend its holdings in the Satah and Umm Al-Dalkh offshore oilfields in Abu Dhabi by about 25 years. The…
Oil prices slipped on Monday, pressured by doubts that large oil producers will reduce production as promised and on expectations that US production would increase again this year.
OPEC probably will not need to extend a deal it reached with other crude producers to cut output, given the level of their compliance with the reductions and the outlook for an increase in global…
Jordan plans to award 300 megawatts of renewable energy projects by the end of this year, according to Ziad Jibril Sabra, assistant secretary general in the ministry of energy. Four solar projects…
Iran will earn $41 billion from oil and gas condensate exports by the end of the present fiscal year in March, Oil Minister Bijan Namdar Zanganeh said on Monday.
The National Iranian Oil Company would welcome the formation of an international consortium of British, Japanese and French firms to develop Azadegan Oilfield in southwest of Khuzestan …
Facilities to increase supply of crude oil from the southern oilfields to an export terminal in the Persian Gulf region are being expanded, it was reported on Monday.
Global oil prices will witness "much more volatility" in 2017 even though markets may rebalance in the first half of the year if output cuts pledged by producers are implemented, the head of the…
Rome-based utility owner Enel SpA is targeting renewables projects in Saudi Arabia and the United Arab Emirates as oil-rich Persian Gulf Arab countries take advantage of the falling cost of solar…
The dramatic rise in India’s oil demand shows no signs of faltering, leading analysts to say that the country will remain a driver of Asian growth in 2017.
Consumption is expected to rise 7…
A total of 37.6 million tons of petrochemicals were produced by Iranian companies in the first nine months of the current Iranian fiscal year, the National Petrochemical Company said in a…
South Korea's Iranian crude oil imports in December soared nearly eight times greater than a year ago, and its 2016 crude imports from Tehran more than doubled from 2015 levels, following last…
Iran has no stockpile of crude oil at sea and its floating gas condensates have all been sold, managing director of Iranian Oil Terminals Company (IOTC) said Sunday.
Iran sold $29 billion worth of crude oil in the first nine months of the fiscal year (March-Dec. 2016), exceeding oil export revenues in the previous fiscal.
Operations to construct a 1,400 megawatt thermal power plant in Sirik County, Hormozgan Province in south of Iran will begin in February in collaboration with Russia, managing director of Iran's…
OPEC is unlikely to deliver fully on its target to cut production despite Saudi Arabia saying it had trimmed more than it had committed to, OPEC delegates say, but compliance of 80% would be good…
Mexico's state-run oil company Petroleos Mexicanos has put a kids’ recreation park up for sale as it combs through its assets searching for property it can exchange for needed cash.
Condensate exports from Iran are set to fall 17% to a five-month low this month, a source with knowledge of Iran's preliminary tanker schedule said, as main buyer South Korea cuts purchases by…
The National Iranian Oil Company will reveal a second list of international companies approved to bid in the country’s oil and gas tenders, the deputy head of NIOC said on Saturday.
A tender for domestic and foreign companies will be announced to enhance the efficiency of gas-burning power plants, says Houshang Falahatian, the deputy energy minister for electricity and energy…
The price of Iran's crude oil eased off from its recent rally in the week to January 6, amid uncertainties on whether a planned supply cut by OPEC and non-OPEC countries would be enough to lift…
Essar Oil, a key Indian buyer of Iranian crude, imported 23% less oil from Tehran in December compared with the previous month, ship tracking data made available to Reuters show. The private…
