A senior oil official said the prospect of matching and outpacing Qatar’s gas production capacity from the joint South Pars Gas Field is likely.
Energy
Iran plans to stop importing gasoline by March 2017, as a new refinery makes it self-sufficient with regard to this fuel.
The first phase of the 360,000-barrel-a-day Persian Gulf Star…
Asian imports of Iranian oil in March jumped 50% from a year earlier as shipments into India and South Korea have climbed since international sanctions were lifted on Iran's nuclear program.
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After months of negotiations and buildup, the Research Institute of Petroleum Industry and the French Institute of Petroleum, officially known as IFP, will finalize an agreement next month to…
Mobin Petrochemical Company is holding negotiations with German engineering giants Siemens and Linde Group to carry out and invest in Iran's petrochemical development projects, MPC’s managing…
Iran resumed electricity export to Basra Province in southern Iraq on Thursday after it was stopped over unpaid dues.
Eni SpA posted a first-quarter loss that was worse than analysts’ estimates, amid a collapse in crude prices. The Italian oil company’s adjusted net loss was $546 million, compared with a profit…
Plans have been devised to increase output from Forouzan Oilfield by 2.5 times through developing the largest oil rig in the Persian Gulf.
“As soon as the offshore platform is…
The UAE's Dana Gas has not been able to reach a deal on importing Iranian natural gas and an arbitration process will continue, chief executive Patrick Allman-Ward said in a statement.
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Following the energy negotiations with Brazil, another South American country, Uruguay, has showed interest in importing Iranian oil.
South America is becoming Iran’s emerging oil market,…
Plans to hand over the distribution of petroleum products to the private sector are gaining momentum, following a directive issued by Oil Minister Bijan Namdar Zanganeh this week.
The…
Total SA posted first-quarter profit that beat analysts’ estimates, as cost cuts, rising production and resilient refining earnings helped the French company offset the slump in crude prices.
OPEC overproduction, China’s slowdown and the reentry of Iran to the oil market are issues weighing heaviest on the minds of oil industry executives, a new study has revealed.
Oil prices rose on Tuesday, boosted by a weaker dollar and by expectations that demand could grow quickly enough to match supply this year, although concern over a potential battle for market…
Saudi Arabia expects state oil company Saudi Aramco to be valued at more than $2 trillion and plans to sell less than 5% of it through an initial public offering, Deputy Crown Prince Mohammed bin…
Iran is planning to launch a joint venture with Russia to implement feasibility studies aimed at exploring deep-water reservoirs in certain regions, especially in the east.
Qatar will scrap gasoline and diesel subsidies next month, as the world’s richest nation per capita is set to plunge into deficit this year after more than a decade of budget surpluses. The world’…
Taiwan, once a small customer of Iran's crude, is planning to increase its imports from the Middle East nation, Taiwan's Deputy Foreign Minister Javier Ching-shan Hou said in Tehran on Tuesday.
British oil and gas firms BP and Royal Dutch Shell want to resume business with Iran, a senior Iranian official said, amid reports of some of the worst financial performances of the two majors in…
About 90% of gas requirements of petrochemical complexes will be met domestically by the end of the current Iranian year (ending March 20, 2017), director of production control at National…
South Korea is pushing to more than double its import of crude and condensates from Iran as part of efforts to boost its oil trade with the Middle Eastern country, industry sources said on Tuesday…
The 21st International Iran Oil, Gas, Refining and Petrochemical Exhibition will open in Tehran on May 5.
Tehran and Islamabad will resume talks on the protracted Iran-Pakistan Gas Pipeline project during a visit by Pakistan's Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi to Tehran…
Thanks to its plentiful supply of natural gas, Iran will soon overtake Saudi Arabia in petrochemical output, an official at the National Petrochemical Company said.
Oil exporting countries in the Middle East lost a staggering $390 billion in revenue due to lower oil prices last year and should brace for even deeper losses of more than $500 billion this year,…
