Energy

Some of the biggest western energy companies laid out their vision for Iran's downstream petroleum sector this week, proposing plans to license and finance the country's petrochemical ventures…

Iran will sign a contract with a Norwegian oil and gas company in the next few days to build the country’s first floating liquefied natural gas (FLNG) unit in the Persian Gulf, the managing…

Oil Minister Bijan Namdar Zanganeh has appointed a new managing director for the National Iranian Oil Refining and Distribution Company, Oil Ministry's official news service Shana reported.

India wants to attract foreign investments for $300 billion of energy projects planned for the next decade, its oil minister said, as the world’s third biggest oil consumer aims to cut imports.…

BNP Paribas SA promised to stop financing shale and oil sands projects as part of its latest efforts to tackle climate change.

France’s biggest bank will no longer do business…

China will "compel" Saudi Arabia to trade oil in yuan and, when this happens, the rest of the oil market will follow suit and abandon the US dollar as the world's reserve currency, a leading…

Iran’s new model of contracts for oil and gas projects has made investment in the country’s petroleum industry much more appealing for multinationals. Lyu Gongxun, vice president of PetroChina…

Oil prices rose for a third day on Wednesday on signs that markets are gradually tightening after years of oversupply, though the outlook for 2018 remained less certain.

Europe's renewable powerhouse Germany plans to build a solar farm in central Iran, following in the footsteps of a British company that landed the biggest solar power contract in Iran's energy…

Iran continues to remain a top performer in a global deal to cut oil supplies as data by OPEC showed the country pump around 3.82 million barrels per day for a second consecutive month in…

A tender for developing Iran’s Azadegan Oilfield has been postponed again, a senior Iranian oil official said on Tuesday, adding that it will not be held in 2017.

Oil rose to around $56 a barrel on Tuesday, supported by Saudi Arabia's planned export cuts in November and comments from OPEC and trading companies that the market is rebalancing after years of…

OPEC Secretary-General Mohammed Barkindo called on US shale oil producers to help support plans to curb global oil supply on Tuesday, warning that unprecedented measures may be necessary next…

Iraq and Iran boosted crude exports in September, taking advantage of a slower pace of shipments from the rival Saudi Arabia to win buyers in key markets like China and the US.

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, on Monday said it has not heard from Iran on the $11 billion "best offer" it gave for developing the Farzad-B gas field…

Microsoft signed an agreement with GE on Monday to purchase every last bit of the wind energy from GE’s brand-new 37-megawatt Tullahennel wind farm located in County Kerry, Ireland, for the next…

Iran aims to finalize and implement about $5 billion worth of projects to raise production from its crude oil and natural gas fields, Oil Minister Bijan Namdar Zanganeh said on Tuesday.

Iran's state tanker company NITC and the national shipping line IRISL plan to form a joint venture in collaboration with the Industrial Development and Renovation Organization to renovate one of…

The Iranian Offshore Oil Company and SAFF Offshore Industries Company signed an agreement in which the latter has been assigned to undertake the Kharg NGL Plant development project through a…

OPEC and other oil producers may need to take “some extraordinary measures” next year to rebalance the oil market, the OPEC secretary-general said on Sunday.

Statoil’s exploration campaign in the Barents Sea was disappointing this year, but the company has firm plans to drill another five wells there in 2018, a spokesman said on Monday.

Oil prices stabilized on Monday after one of the most bearish weeks in months, propped up by OPEC comments signaling the group and other producers may take further action to restore market…

Iraqi Oil Minister Jabar al-Luaibi said on Monday that Chevron and Total are among companies that have expressed interest in developing the Majnoon Oilfield that Shell has said it wants to leave…

Iran's jet fuel supply to aircraft in the first six months of the current fiscal year (March 21-Sept. 22) increased 5% from the same period of last year, director of the Aviation Fueling…

The number of crude oil carriers berthed at the Kharg Oil Terminal in the Persian Gulf in the past nine months has witnessed a 28% rise compared with last year's corresponding period, director…