Energy

Iraq's Prime Minister Haider al-Abadi said the country has not yet reached its full oil market share, suggesting his government would not restrain crude output as part of any possible OPEC…

The Iranian Parliament on Wednesday eliminated a clause in the budget law for 2016-17, which can help phase out the electronic fuel card system nearly a decade after its introduction.

Investment in Norway's oil and gas sector, a cornerstone of the economy, will drop next year as weak crude prices push energy companies to rein in their budgets, a national statistics agency…

Iran is set to sign major oil and gas deals with foreign companies in the second half of 2017, its first such contracts since international sanctions were lifted in January, according to Wood…

OPEC’s Secretary-General Mohammed Barkindo will visit members Iran and Qatar next month, just weeks before the group holds informal talks in Algeria, according to a person with direct knowledge of…

Iran and India will sign a contract worth $5 billion on developing the first phase of Farzad-B Gas Field in the Persian Gulf by the end of next month after 14 years of negotiations.

Iran has concluded the first phase of a gas exploration project in the Sea of Oman, the National Iranian Oil Company’s head of planning at Exploration Management Department said on Wednesday.

Oil fell below $49 a barrel on Tuesday, giving up part of August’s strong rally, as signs of rising supply outweighed hopes that producing nations will agree steps to support prices.

Iran’s total installed capacity of renewable energy production in both public and private sectors amounts to 241 megawatts, managing director of Iran Renewable Energy Association said on Tuesday…

Iran will outpace Qatar's gas production from the shared South Pars Gas Field by the end of the current Iranian year that started in March, Oil Minister Bijan Namdar Zanganeh said on Tuesday.

About 1.5 million barrels of gas condensates produced in the South Pars Gas Field’s Phase 19 have been exported, the director of the phase said on Tuesday.

“The export of another 500,000…

Oil Minister Bijan Namdar Zanganeh took the debate on Iran's new model of oil contracts to the parliament on Sunday in what appeared to be the next step to bridging the divide between the…

Egypt plans to lift fuel subsidies within three years and is aiming to increase fuel prices to 65% of their actual cost during the 2016-17 fiscal year, two government sources told Reuters on…

OPEC and some producers outside the group may agree to freeze output during informal talks next month, which could prove “self-defeating” because it would benefit other suppliers, according to…

Kuwait saw its once-lucrative oil and gas sector shrink by 1.7%—in real terms—in 2015 for the third year in a row, according to preliminary figures prepared by the Central Statistical Bureau.

According to the latest mid-year forecast assembled by World Oil magazine, only 14,430 wells will be drilled in the US this year, on par with the years 1930-34, when not a single year topped 20,…

Oil fell after the longest run of gains in four years, as Iraq sought to increase exports amid a global oversupply and Nigerian militants called an end to hostilities.

Futures dropped as…

Iran is capable of providing Afghanistan with its much-needed oil products for 30 years, managing director of National Iranian Oil Refining and Distribution Company said on Monday.

Petroliam Nasional Bhd., Malaysia’s state oil company, said profit dropped 96% last quarter after it was hit by oil prices that remained sharply lower than a year earlier. Net income fell to $86…

Italian energy firm Eni is looking forward to working in Iran's oil industry but is waiting for the finalization of the country's new model of contracts for dozens of oil and gas projects, the…

Siemens, the German engineering company, has commenced a new round of negotiations with Iran on expansion of cooperation in the country’s petrochemical industry.

The list of Iran's crude oil buyer has expanded noticeably in the last few months.

The list, which had been limited to only five states during the sanctions, has grown significantly, as…

Oil companies and even Nigerian officials are losing faith in a deal anytime soon with militants who have slashed the nation's oil output, casting doubt on a production recovery in what is…

China’s diesel exports rebounded to a record in July, as severe flooding in some parts of the country curbed domestic fuel demand.

The world’s largest energy consumer exported 1.53 million…

Venezuelan state oil company PDVSA has begun talks with Credit Suisse AG for a possible swap of bonds due in 2017, according to sources familiar with the negotiations. PDVSA has seen its income…