There is no alternative to OPEC at the moment, as OPEC is a sufficiently effective instrument to influence the market and it has maintained the demand-supply balance, Lukoil's CEO…
Energy
Iran has the capacity to ramp up its crude production by more than 1 million barrels by 2019, the former chief executive officer of Eni SpA said.
"I can see Iran producing 5 million barrels…
The first condition under which international oil companies will agree to start retailing gasoline in Iran under their brand names is to sell their petroleum products in the stations that make the…
The first cargo of oil byproduct was loaded at Asalouyeh in the southern Bushehr Province and left the port for an unnamed destination in the Persian Gulf region.
Although Asalouyeh is the…
Iran's Oil Minister Bijan Namdar Zanganeh said in spite of speculations, the country’s return to international oil markets did not lower oil prices.
The demand for Iranian oil will continue to increase gradually, the former head of International Energy Agency said. “Iranian oil will continue to grow. It is obvious that with…
The head of International Monetary Fund on Friday urged countries to remove subsidies on fossil fuels and launch schemes that put a price on carbon dioxide emissions to curb rising emissions…
The Organization of Petroleum Exporting Countries' full-year 2016 oil export revenues will probably fall 15%, down for the third straight year and possibly the lowest in more than a decade before…
Lukoil President Vagit Alekperov said his company is seriously considering reentering the Iranian energy market following the removal of international sanctions earlier this year
In remarks…
Russia’s Russneft is considering an initial public offering to sell up to 10% of the midsized oil producer, Interfax news agency reported on Friday citing company boss, Mikhail Gutseriyev. That is…
Iran pumped 3.64 million barrels per day in May, just four months after sanctions were lifted, according to the International Energy Agency. That is the fastest pace since June 2011, before…
The government has increased rich gas production in South Pars Gas Field from 235.5 million cubic meters a day in 2013, the year President Hassan Rouhani took office, to 404.6 mcm/d by the end of…
Iran's oil exports to Japan have experienced a substantial rise since the beginning of the current Iranian year (started March 20), as Japanese refining complexes exceed their import quotas.…
The quality of premium gasoline in eight major Iranian cities has increased by 7%, deputy for supervision at the Iranian National Standards Organization said.
The oil and gas industry will cut $1 trillion from planned spending on exploration and development because of the slump in prices, leading to slower growth in production, according to consultant…
The wind and solar industries are set to attract substantially higher investment than fossil fuels over the next several decades, according to a new assessment from Bloomberg New Energy Finance.…
The first phase of Bid Boland-2 Gas Refinery, in Khuzestan Province, is expected to go on stream in two years, managing director of Persian Gulf Petrochemical Industries Company said on Wednesday…
Iraq's Kurds are ready to strike an agreement with the central government in Baghdad on a deal to increase oil exports, if it guarantees them a monthly revenue of $1 billion, a spokesman for the…
South Korea's imports of Iranian crude oil jumped around 130% in May from the same month a year ago, extending gains after international sanctions were lifted in January on Iran's nuclear program…
Iran is planning to raise production from five oilfields it shares with western neighbor Iraq in the current Iranian year that ends on March 20, 2017, the chief executive of Petroleum Engineering…
The Iranian National Oil Company is not ready to provide the Hungarian multinational oil and gas company MOL with light crude.
Mohsen Qamsari, director of international affairs at the…
Indonesia is taking its first 44,000-million-ton LPG cargo from Iran in August under a one-year renewable contract signed recently, based on which state-run Pertamina will take a monthly cargo, a…
The Sultanate of Oman has entered into serious negotiations with the UAE to obtain the much-needed licenses to be able to pass its gas pipeline through the emirates' territorial waters…
The oil market is now in balance thanks to unplanned outages and robust demand, particularly from emerging economies, but this equilibrium will tilt into surplus again early next year, the…
Iran is producing more than 3.8 million barrels of crude oil per day as exports have doubled since President Hassan Rouhani became president in 2013, Oil Minister Bijan Namdar Zanganeh said.
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