Energy

Russian oil output fell slightly to 10.84 million barrels per day in April, the country's Energy Ministry data showed on Monday, as production declined at large energy firms Lukoil, Gazprom Neft…

Oil supply growth by OPEC countries will not match the output declines being experienced by non-OPEC producers and this could lead to higher crude prices next year, says a report.

International Energy Agency chief, Fatih Birol, said on Sunday oil prices may have bottomed out, provided the health of the global economy does not pose a concern.

Iran is holding negotiations with neighboring countries, with which it shares sea borders, to launch electricity exports by establishing a subsea cable, Arash Kordi, managing director of Iran…

Iraq exported oil from southern fields at an average rate of 3.364 million barrels per day in April, higher than the March average of 3.286 million, Oil Ministry spokesman, Asim Jihad, said. That…

Tehran and Seoul are determined to boost economic ties by signing $20 billion worth of agreements during the three-day visit of South Korea's President Park Geun-hye to Tehran, said the country's…

Lorestan Petrochemical Company is due to be officially inaugurated in the presence of First Vice President Es’haq Jahangiri on Wednesday.

According to ISNA, the complex has an annual…

Exxon Mobil Corp. beat analyst estimates as a jump in earnings from its chemicals segment cushioned the blow from tumbling prices for oil and natural gas.

First-quarter net income fell to $…

Sistan-Baluchestan’s provincial capital Zahedan will be supplied with natural gas by the end of the current Iranian year (March 20, 2017), managing director of National Iranian Gas Company…

Essar Oil, Iran's key Indian client, imported about 21% more oil from Tehran in 2015-16 as it stepped up shipments in the last quarter of the year after western sanctions against the Persian Gulf…

Tehran and Seoul will sign 15 memoranda of understanding in water and electricity sectors during the visit of South Korean President Park Geun-hye to Tehran.

Energy Minister Hamid Chitchian…

Two European refiners are set to receive their first oil cargoes from Iran since international sanctions were lifted in January against the country that is ramping up crude exports to take back…

Plans call for speeding up the implementation of petrochemical construction operations by utilizing the full capacity of domestic and foreign potentials.

JPMorgan Chase disclosed on Friday its "criticized" loans to the oil and gas industry more than doubled in the first three months of the year.

With a daily export of 31 million liters, Iran has become the world’s largest Mazut exporter, managing director of National Iranian Oil Products Distribution Company announced on Friday.

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A senior oil official said the prospect of matching and outpacing Qatar’s gas production capacity from the joint South Pars Gas Field is likely.

Iran plans to stop importing gasoline by March 2017, as a new refinery makes it self-sufficient with regard to this fuel.

The first phase of the 360,000-barrel-a-day Persian Gulf Star…

Asian imports of Iranian oil in March jumped 50% from a year earlier as shipments into India and South Korea have climbed since international sanctions were lifted on Iran's nuclear program.

After months of negotiations and buildup, the Research Institute of Petroleum Industry and the French Institute of Petroleum, officially known as IFP, will finalize an agreement next month to…

Mobin Petrochemical Company is holding negotiations with German engineering giants Siemens and Linde Group to carry out and invest in Iran's petrochemical development projects, MPC’s managing…

Iran resumed electricity export to Basra Province in southern Iraq on Thursday after it was stopped over unpaid dues.

Eni SpA posted a first-quarter loss that was worse than analysts’ estimates, amid a collapse in crude prices. The Italian oil company’s adjusted net loss was $546 million, compared with a profit…

Plans have been devised to increase output from Forouzan Oilfield by 2.5 times through developing the largest oil rig in the Persian Gulf. 

“As soon as the offshore platform is…

The UAE's Dana Gas has not been able to reach a deal on importing Iranian natural gas and an arbitration process will continue, chief executive Patrick Allman-Ward said in a statement.

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Following the energy negotiations with Brazil, another South American country, Uruguay, has showed interest in importing Iranian oil.

South America is becoming Iran’s emerging oil market,…