Energy

Venezuela's president on Sunday created an executive vice president post and named new vice presidents to lead PDVSA in what he described as a shake-up of the state oil company and an effort to…

Lukoil, Russia's No.2 oil producer, hopes to reach a decision on developing two new oilfields in Iran and wants to expand its operations further in the Middle East this year, a senior executive…

Talks are underway with European firms including an unnamed German company to increase polypropylene production in Rejal Petrochemical Complex in Bandar-Mahshahr, Khuzestan Province, vice…

A pilot program has started from mid-January to distribute top-grade 'branded' gasoline in select filling stations in central Isfahan Province as part of measures to improve fuel quality and…

The International Energy Agency (IEA) does not expect oil demand to peak any time soon due to rising consumption in developing economies, Director Fatih Birol said on Monday. Birol also warned…

Oil prices were steady on Monday, but news of another increase in US drilling activity spread concern over rising output just as many of the world's oil producers are trying to comply with a deal…

French energy sector unions have called for a strike in the gas and electricity sector to protest wage freezes in the sector for 2017, CGT trade union said in a statement on Monday. The date for…

Oil and natural gas producer Chevron Corp said it would give its top executive fewer stock options after shareholders expressed concern about executive pay.

Oil companies have been…

Oil producing nations will be happy to see out the year with oil trading between $55 and $60 per barrel, Oil Minister Bijan Namdar Zanganeh said on Monday.

"The oil market is moving toward…

The National Iranian South Oil Company and Pasargad Energy Development Company signed a memorandum of understanding and a non-disclosure agreement on Sunday, based on which the latter will study…

US President Donald Trump may have revived prospects for the controversial Keystone XL and Dakota Access oil pipelines, but the path to their completion still contains hurdles.

Saudi Aramco, the world’s largest oil company, is considering as much as $5 billion of investments in renewable energy firms as part of plans to diversify from crude production, according to…

German energy utility EnBW plans this year to install 64 new wind turbines across 16 sites with a total generating capacity of more than 200 megawatts, having doubled its wind power capacity in…

In line with policies to expand liquefied natural gas exports, negotiations are underway with European and Asian gas giants to restart incomplete LNG projects, deputy for engineering and…

 Persian Gulf Petrochemical Industries Company and Parsian Oil and Gas Development Company intend to capture carbon dioxide (CO2) emissions in the city of Asalouyeh and use it to produce…

A fire broke out at an oil storage facility in south Tehran in the early hours of Sunday. It was put out within hours. 

The fire started after lightning struck an oil storage unit at…

Ireland’s parliament has become the first in the world to vote to divest from fossil fuels, paving the way for a historic ban on government investment in nonrenewable energy.

Chevron Corp. posted its first annual loss since at least 1980 as the world’s biggest oil companies struggle to emerge from the worst collapse in a generation. 

Oil supplies from OPEC are plunging this month as the group implements production cuts aimed at erasing a global surplus, according to tanker-tracker Petro-Logistics SA.

The Organization of…

Crude oil production has reached 3.9 million barrels per day and is rising, Oil Minister Bijan Namdar Zanganeh said.

Schlumberger Ltd, the world's leading oilfield services provider, will submit next month a comprehensive proposal to develop three oilfields in southern Khuzestan Province to the National Iranian…

Iran has signed billions of dollars in contracts since the easing of sanctions in January 2016 to develop its electricity generation infrastructure, a top energy official says.

Karoun Petrochemical Company (KRNPC) is expanding exports to South America by sending cargo to Peru and Uruguay, the company's commercial manager said.

Russia estimates Belarusian gas debt to be approximately $550 million, Russian Deputy Prime Minister Arkady Dvorkovich said Saturday. "In our opinion, Belarusian gas debt to Russia stands at about…

Oil prices slipped on Friday, giving up gains from earlier in the day, as market shifted its focus towards production increases in the United States from efforts by OPEC and other producers to…