Energy

Tehran has resumed business with mega trading company Vitol Group after the lifting of international sanctions in January, but the Swiss trader gets no preferential treatment in Iran's energy…

Oil prices edged lower on Friday and were set for the biggest weekly losses in six weeks over doubts about whether OPEC and non-OPEC oil producers will be able to agree on an output cut big enough…

Low crude prices and weak refining margins weighed on third-quarter profits at US oil giants ExxonMobil and Chevron in reports Friday, but earnings rose compared with the prior two quarters.

The Organization of Petroleum Exporting Countries aims to shrink the world’s bloated oil inventories with its first production cut in eight years, according to Secretary-General Mohammed Barkindo…

Brazil, the fastest-growing oil producer outside OPEC, will join talks with the exporters group in Vienna on Saturday about potential cooperation.

Oil and Gas Secretary Marcio Felix was set…

Iran and the Czech Republic explored grounds for cooperation in power, water and renewable sectors in the first session of a joint energy workgroup in Prague.

The flow of Iranian natural gas to Turkey halted after an explosion hit a gas pipeline in Turkey, head of the gas measuring station at Bazargan border said on Friday.

According to Sadeq…

The official pointed to the memorandum of understanding signed with the Anglo-Dutch company that was announced this month and added, "We have held talks on investment in the upstream petroleum…

Iran's crude oil exports are set to decline 5% in November to a four-month low, a source with knowledge of its preliminary tanker schedule said, as low seasonal demand in Europe takes the edge off…

The French oil and gas company Total has managed to offset the effects of weak commodity prices by reporting better-than-expected profits in the third quarter of 2016. Total's adjusted net income…

Saudi Arabia faces the prospect of much deeper—and financially painful—oil production cuts after Iraq joined the queue of group members seeking immunity from the deal hatched in Algiers.

Dutch companies can cooperate with the Iranian Oil Terminals Company to develop and expand loading ports as Iran presses ahead with plans to boost crude shipments from its southern ports, head of…

Venezuelan Oil Minister Eulogio Del Pino said his country had proposed that non-OPEC countries remove 400,000-500,000 of barrels of crude oil per day from the market to help support prices. Del…

OPEC Secretary General Mohammed Barkindo said the 14-nation group is facing its toughest challenge as members debate oil-production cuts needed to balance the market.

Iran wants Russia’s energy company Rosneft to participate in oil extraction and refining projects in the country, the Iranian ambassador to Russia said on Tuesday.

Oil Minister Bijan Namdar Zanganeh on Wednesday sought to reassure his critics and stakeholders in Iran's oil and gas industry that a raft of new contracts to develop the country's massive…

The world’s biggest oil companies, supported during crude’s collapse by a buoyant refining business, have lost that buffer as brimming fuel stockpiles swamp demand.

The International Energy Agency said that the world's capacity to generate electricity from renewable sources has now overtaken coal.

The IEA said in a new report that last year, renewables…

Crude oil futures gained on Tuesday ahead of the release of US crude inventory data, which in recent weeks has provided bullish surprises, but a flurry of top-level comments from OPEC members…

Iraq's Oil Ministry has launched a new round of bidding to develop 12 small to medium-sized oil fields and will directly negotiate terms with oil companies as it seeks to move away from the…

Venezuelan Oil Minister Eulogio Del Pino and Russian Energy Minister Alexander Novak have discussed coordinating action on the global oil markets, Russia's Energy Ministry said in a statement.…

Iran’s Oil Industries, Engineering and Construction company has participated in several tenders to develop oilfield projects in neighboring countries, the firm's chief executive officer said on…

Bosnia and Herzegovina is expected to hold a new round of negotiations to import oil and byproducts during the visit of Bosnian Chairman of Presidency Bakir Izetbegovic to Tehran at the head of an…

A top oil official on Tuesday said the government plans to exclude a bill for gasoline imports from the national budget for the next fiscal (2017-18) in what would end years of reliance on imports…

India’s government is in “serious” negotiations with Iran on securing the development rights for Farzad-B Gas Field in the Persian Gulf, deputy oil minister for international affairs said.