Brent crude prices hit their lowest in over 11 years on Monday, hounded by a relentless rise in global supply that looks set to outpace demand again next year.
Brent futures fell by about 2…
Energy
iran energy news, Read the latest news about Iran’s oil and gas sector, renewable energy, electricity, water, and drilling industries.
Royal Dutch Shell and BG Group shareholders are expected to vote on the merger of the two companies on Jan. 27 and 28, respectively, the firms said on Monday. Shareholder approval is the final…
The National Development Fund of Iran has allocated $6 billion for the development of petrochemical and refining sectors in the current Iranian year (ending March 19, 2016), deputy for finance and…
The private sector has started swap operations for diesel and liquefied petroleum gas from the Caspian Sea littoral states, managing director of the National Iranian Oil Refining and Distribution…
Iran is keen to start natural gas supply to Pakistan in three years and to the Iraqi city of Basra by the end of 2016 while weighing up gas export plans to India, as part of efforts to claim a…
The National Oil Corporation, affiliated with the UN-recognized Libyan government in the country's east, said it will sign agreements with six companies to sell Libyan crude oil after a peace deal…
Saudi Arabia boosted crude exports in October to the highest level in four months, as the world’s biggest oil exporter added barrels to a worldwide supply glut that has contributed to a slump in…
Oil prices are "definitely in a lower-for-longer environment", but crude will still nearly double from current levels by late 2016, the CEO of Hess Corporation said. "By the end of next…
The International Court of Arbitration will announce its verdict over long-awaited Iran-Turkey gas dispute in late January 2016, director for international affairs at the National Iranian Gas…
Tehran and Moscow are in advanced talks to build a 1,400-megawatt power plant in southern Iran, expanding their decades-long cooperation in the energy sector to the post-sanctions era.
The National Iranian Drilling Company will start operation in the North Sea in the near future, the company's managing director said.
Low crude prices have damaged Algeria's economy, said the deputy oil minister for international affairs.
Amirhossein Zamaninia, accompanying First Vice President Es'haq Jahangiri on a two-…
Gasoline prices will not increase until March 19, which marks the end of the current Iranian year, while electricity prices are bound for an upward revision next year, energy officials said in…
Iran will be ready to supply crude oil to global customers, including American refineries, a senior Iranian oil official said on Saturday, stressing that Tehran is determined to raise crude output…
Indian refiner Essar Oil's annual oil import from Iran plunged to its lowest level in eight months, registering a decline of about 74% from October, according to tanker arrival data obtained from…
The US Congress voted on Friday to repeal the 40-year ban on exporting crude oil in a U-turn in energy policy sought by Republicans as part of a bipartisan deal that also provided unprecedented…
The total value of output from South Pars phases 15 and 16 since 2013 amounts to $4.5 billion, the head of phases 15 and 16 development consortium said on Saturday.
Investment in Iran’s petrochemical industry will have a reasonable return, a high-ranking official of the China National Petroleum Corporation said on Saturday.
The official also told…
Russian President Vladimir Putin said on Thursday the $50 per barrel price for oil factored in the 2016 budget was too optimistic and the government needed to make adjustments.
Statoil has submitted a plan to the Norwegian government to develop and operate a $940-million project designed to squeeze more oil and gas out of the Oseberg area of the North Sea.
The port city of Asalouyeh in the southern Bushehr Province houses the world’s biggest olefin and aromatic production plants, and is also the largest petrochemical export hub in the Middle East.…
The National Iranian Drilling Company started its exploratory drilling in Golestan Province for discovering hydrocarbon reserves, Khazar Exploration and Production Company's director for…
Iran has stopped gasoline imports from Turkmenistan, the managing director of National Iranian Oil Refining and Distribution Company said.
"Due to the low quality of Turkmenistan's gasoline…
Iran's electricity exports will be doubled from the current 10 billion kilowatt-hours to 20-25 billion kWh per year by 2020, managing director of Iran Power Generation, Distribution and…
Consultations with Algerian officials can help stop oil prices from declining further, First Vice President Es'haq Jahangiri said.
Before leaving Tehran for Algiers on a two-day…
