Persian Gulf oil exporters Saudi Arabia and Kuwait gave a clear signal on Thursday that OPEC plans to extend into the second half of the year a deal with non-member producers to curb supplies of…
Energy
Iran's crude oil exports are set to hit a 14-month low in May, a person with knowledge of Iran's tanker loading schedule said, suggesting the country is struggling to raise exports after clearing…
A group of Italian investors has voiced interest in financing renewable projects in southern Hormozgan Province following a visit this week to the site of a solar farm in the port city of Bandar…
Azerbaijan’s state-run oil company SOCAR will produce another 43,800 tons of oil and around 3.65 million cubic meters of gas per year after it commissioned a new well on the Guneshli offshore…
Installed power generation capacity has risen by 7,450 megawatts (7.4 gigawatts) after President Hassan Rouhani took office in mid-2013. Houshang Falahatian, a deputy energy minister, made the…
The amount of electricity wasted by China's solar and wind power sectors rose significantly last year, environment group Greenpeace said in a research report published on Wednesday, despite…
Iran will probably be allowed to keep its oil production unchanged if OPEC decides to extend its six-month agreement on output cuts beyond June, Kuwaiti Oil Minister Issam Almarzooq said,…
The National Iranian Oil Company has selected Pars Oil and Gas Company (POGC) as the new contractor of the second development phase of the South Pars Gas Field's oil layer, the deputy for…
Ghadir Investment Company, a major Iranian conglomerate, has signed an agreement with the National Iranian Oil Company to study four oil and gas fields.
It has six months to study Kish Gas…
Oil edged higher on Wednesday as OPEC said it was committed to eroding a global surplus of crude, but increasing shale production in the United States and still-high global stocks threatened to…
Oil-producing nations are moving closer toward ending a global glut and rebalancing the crude market, and OPEC will decide next month whether to extend its cuts in output beyond June, the…
Britain should continue to participate in the European Union's energy market when it leaves the 28-nation bloc, energy minister Greg Clark told a parliamentary committee on Wednesday.
Citigroup Inc. joined Goldman Sachs Group Inc. in backing commodities, saying it is the season to have faith in raw materials, and oil will probably rally to the mid-$60s by the end of the year,…
Saudi Arabia, the world’s largest crude shipper, trimmed exports to a 21-month low in February as local refineries took advantage of more abundant supplies and processed a record amount of crude…
New contracts in the oil and gas sector can create thousands of jobs and resuscitate the economy which is reeling from international financial and trade restrictions, says Bijan Namdar…
Oil prices hit their lowest in 11 days on Tuesday on news that US shale oil output in May is expected to post the biggest monthly increase in more than two years, fuelling concerns that US…
Six international oil giants have completed their surveys and submitted plans to the National Iranian Oil Company for developing oil and gas reservoirs, chief executive officer of the NIOC said on…
Transparency in contracts with domestic companies operating in the oil and gas industry cut the cost of domestic petroleum projects by 20% in fiscal 2017-2018 compared to the previous year, an…
BP Plc said workers on Alaska's North Slope had brought under control a company-operated well that spewed oil and gas over the weekend. The leak was discovered on Friday and a team from BP, the…
Investors who took a hit last year when dozens of US shale producers filed for bankruptcy are already making big new bets on the industry's resurgence.
In the first quarter, private equity…
Oil majors will start reporting financial results for the first quarter later this month, prompting the usual flurry of analyst predictions, where some are very confident that Big Oil will make…
Crude oil slid lower on Monday on signs that the United States is continuing to add output, largely counteracting strong economic growth in China and OPEC efforts to cut production.
Seventeen petrochemical projects are to come on stream over the next two years raising annual output capacity to more than 70 million tons, said Marzieh Shahdaei, head of the National…
Almost $65 million (2.5 trillion rials) has been invested in infrastructure projects in the southern oil and gas regions, Ali Kardor, the chief executive officer of National Iranian Oil…
Iran has met 70% of its production target from South Azadegan Oilfield, a major onshore reservoir in the southern Khuzestan Province near the border with Iraq.
