Germany and Austria condemned a proposed expansion of US sanctions on Russia, saying the measures sought to bolster US economic interests and included an unacceptable intervention in the region’s…
Energy
Growth in oil supply next year is expected to outpace an anticipated pick-up in demand that will push global consumption above 100 million barrels per day for the first time, the International…
Iraq is gaining the edge over Saudi Arabia in the world’s fastest-growing oil consumer amid an intensifying race among producers to retain their most-prized markets.
Iraq was the top crude…
OPEC's oil production jumped in May, despite the exporter group agreeing last month to extend its six-month deal to cap output into 2018. Production across OPEC rose by about 336,100 barrels per…
Close to 100 million liters of gasoline has been produced in the Persian Gulf Star Refinery in the city of Bandar Abbas, Hormozgan Province, since its launch in the beginning of last month, said…
Transfer of crude oil from the West Karoun oil block in the southern Khuzestan Province to export terminals in the Persian Gulf is picking up, thanks to expanding pumping machinery and equipment…
Some of the biggest European energy companies are looking at petrochemical investment opportunities in the Parsian Special Economic Energy Zone, an emerging hotspot for industries in the southern…
French energy giant Total and the Society of Iranian Petroleum Industries Equipment Manufacturers have come to an agreement to use domestically made equipment to develop South Pars Gas Field Phase…
Oil prices fell on Wednesday after industry data showed a build in US crude stocks and OPEC reported a rise in its production despite a pledge to cut output. Brent crude oil was down 36 cents a…
Crude oil exports from the Kharg Oil Terminal in the Persian Gulf stood close to 780 million barrels in the fiscal year that ended in March 2016, or around 2.1 million barrels daily, managing…
In line with plans to complete the value chain in Jam Petrochemical Complex in the port city of Asalouyeh, Bushehr Province, the first development phase of an ABS/rubber production plant will go…
Oil prices rose slightly on Tuesday after Saudi Arabia said it would make significant export cuts in July amid signs of a drawdown in US crude inventories, though increasing US output continues to…
Major oil companies could shift more than a fifth of their drilling investments to renewable energy as wind and solar grow rapidly over the next two decades, Wood Mackenzie says.
But modern…
Austrian energy group OMV and Russia's Gazprom are considering reviving a gas pipeline project through the Black Sea connecting Russia to central and southern Europe, an Austrian newspaper said on…
Shale oil production in the United States is expected to jump again in July, marking the fourth straight month the Department of Energy has forecast monthly growth above 100,000 barrels a day.
Iran has cleared more than 40% of the fine it was told to pay Turkey by an international tribunal for overpricing natural gas it sold to the Eurasian country, said Asadollah Gharekhani, spokesman…
Oil rose on Monday to break a three-day losing streak, after futures traders increased their bets on a renewed price upswing even though physical markets remain bloated, especially from a…
The oil market is likely to move into balance by the first quarter of 2018 when the global inventory falls to a five-year average, said Russia's Energy Minister Alexander Novak on Sunday, as he…
Iran is well-positioned to sign major oil contracts by the end of the present fiscal in March, said Ali Kardor, chief executive officer of the National Iranian Oil Company.
"We…
A combined heat and power (CHP) plant is ready for launch in Germi County in the northwestern province of Ardebil, an advisor to Iran Power Generation, Distribution and Transmission Company (…
Energy giant BP is expected to announce whether or not it wants to play a role in developing Ahvaz Oilfield in Khuzestan Province after evaluating a contractual model proposed by the National…
The Research Institute of Petroleum Industry (RIPI) is intent on acquiring the expertise for producing petroleum coke and subsequently establish a production plant for the oil derivative, an…
Saudi Arabia, the world's top oil exporter, will limit volumes of crude to some Asian buyers in July and deepen cuts in allocations to the United States, industry sources with knowledge of the…
With natural gas prices closely associated with movements in global crude oil benchmarks, it is not economically viable to export gas as long as oil is struggling at around $50 a barrel.
As the United States was withdrawing from the Paris climate pact, China’s clean energy ambitions were being reflected in the launch of the world’s largest floating solar farm.
