Energy

Russia is not going to cut crude oil production, the country's energy minister Alexander Novak said on Friday. "We are not going, so to speak, to cut production. We focus on the total volume set…

The world is awash with oil after having built record stockpiles in recent months and slowing demand growth combined with resilient non-OPEC supply could worsen the glut well into next year, the…

Brent crude edged higher after a sharp decline on Friday but was on track for the biggest weekly loss in more than two months as swelling stocks weighed on the market.

Brent crude traded 40…

Russian President Vladimir Putin will attend the Gas Exporting Countries Forum which will be held on November 23 in Tehran, presidential aide Yuri Ushakov said on Friday.

Putin will…

Oil price competition in Europe is set to intensify when Iranian crude returns to the market after sanctions on its nuclear program are lifted, the International Energy Agency said.

Recent data show an estimated $200 million, which equal the cash subsidy payment of almost 20 million people, are smuggled out of the country each month.

According to the head of the…

The construction of renewable and solar power plants tops Iran's priority in the energy sector, deputy energy minister said on Thursday.

"In spite of the fact that such power plants'…

Iranian oil officials on Wednesday held talks with senior representatives from Russia's Rosneft in Tehran, the Oil Ministry revealed on Thursday.

The two sides discussed swap deals for oil…

The pricing formula of the Iran-Iraq gas deal is based on the same framework used for setting the price of crude oil and petroleum products, Deputy Oil Minister Hamidreza Araqi said without…

Iran concluded a memorandum of understanding with Germany's Institute Bruno Schmaeling Consulting Group to adopt new health, safety and environment policies in its gas industry, National…

Brazil's scandal-plagued state oil giant Petrobras announced third-quarter losses of about $1 billion on Thursday, mainly due to the sharp devaluation of the Brazilian currency.

President Hassan Rouhani’s administration approved Iran’s long-awaited climate change action plan on Wednesday at a Cabinet meeting.

The plan, which aims to curb Iran’s greenhouse gas…

Energy Minister Hamid Chitchian explored the prospect of building dams in South Africa in a meeting with the country's water and sanitation minister, Nomvula Mokonyane, in Tehran.

"Iran and…

The Organization of Petroleum Exporting Countries is considering raising its official production target at its next meeting on Dec. 4 to take into account new member Indonesia, according to two…

Iran is holding talks with Malaysia's state-owned Petronas and Austria's OMV on developing the country's oilfields, managing director of Iranian Central Oilfields Company said

Salbali…

A special committee established in the Oil Ministry will monitor the Joint Comprehensive Plan of Action (the official title of Iran's July 14 nuclear deal with major powers) over the…

Energy consumption in Iran is worrying and if the current trend continues, the total amount of energy generated in the country will have to be used domestically by 2025, the managing director of…

Iran should offer lucrative contract terms to draw back international oil companies at a time when the oil industry is more focused on profitability, as it gears up for a longer period of low oil…

Germany's largest energy producer, E.ON, on Wednesday reported a record loss of almost €5.7 billion ($6.1 billion) for January-September. The news came on the back of the company's massive…

Oil prices are set for a slow recovery, according to the latest report from International Energy Agency, which cautioned against the deep investment cutbacks in the industry.

In its latest…

Iran's petrochemical output is planned to exceed 100 million tons per annum by 2018 from around 50 million tons a year at present, first deputy of National Petrochemical Company said on Tuesday.…

International oil companies have submitted proposals to Iraq to change their contracts in the face of constraints on growth in the country’s output next year after the Iraqi Oil Ministry asked for…

Preliminary negotiations have been held to produce F-class gas turbines in Iran, said a deputy energy minister.

“Iran is now a producer of E-class turbines, but F-class turbines in combined…

Islamabad has delayed the import of Iranian natural gas through the Iran-Pakistan (IP) Pipeline after failing time and again to lay the pipeline in its own territory, but Tehran has no plans to…

Recent studies in Sardar-e-Jangal Oilfield indicate a high probability of exploring new oil layers, said managing director of Khazar Exploration and Production Company on Tuesday.