Royal Dutch Shell is nearing the sale of a large part of its North Sea oil and gas assets to private equity-backed Chrysaor for $3 billion, banking sources said, marking a milestone in its drive…
Energy
iran energy news, Read the latest news about Iran’s oil and gas sector, renewable energy, electricity, water, and drilling industries.
Surging debt dogged the world’s largest oil companies during the downfall of crude prices. Now, sweeping cost cuts and rising prices have combined to lessen the need to borrow.
Since prices…
Iran, which must pay Turkey $1.9 billion in compensation for overpricing its gas exports to the Eurasian country between 2011 and 2015, will offer discount on future gas supplies to clear the…
Iran's monthly oil exports are set to climb slightly in February, as Indonesia takes its first shipment since sanctions on Tehran were lifted last year, a person with knowledge of Iran's tanker…
Iraq signed a billion-dollar deal on Thursday with US firm General Electric for the construction of two power plants aimed at easing the country's long-running electricity woes, the prime minister…
Energy Minister Hamid Chitchian on Thursday broke ground on a 890 megawatt combined cycle power plant (CCPP) project in Khorramabad, Lorestan Province. The project is in line with government moves…
The National Iranian Tanker Company has signed deals with a growing number of European companies for leasing its oil vessels, says Sirous Kianersi, NITC's managing director.
"We have signed…
The National Iranian Oil Company sold its first cargo of gas condensates from South Pars Phases 20 and 21 to Japan, said the managing director of Iran's Oil Terminal Company (IOTC). “A Japanese…
Oil prices fell on Wednesday after builds in US inventories reinforced expectations that increasing shale output this year would reduce the impact of production cuts by OPEC and other major…
Iran shipped 767,000 barrels per day of crude oil to its European customers last month, inching closer to its pre-sanctions export levels to the continent.
The No. 3 OPEC producer stepped…
Saudi Aramco has shelved plans for a multi-billion-dollar refining and petrochemical joint venture with Petronas in Malaysia, industry sources familiar with the matter told Reuters on Wednesday.…
Tehran is sending the signal that it is open to cooperate with US companies in its key petroleum industry even under the new US President Donald Trump's administration.
Austria's major integrated oil and gas company, OMV, has signed a preliminary agreement with Iran's Dana Energy Co for collaboration in upstream oil and gas exploration/production sector.
In line with policies to complete the value-added chain in oil and gas industries, butane and propane refining units at the site of South Pars Phase 19 have become operational, contractor of Phase…
A pipeline in the western Canadian province of Saskatchewan has leaked 200,000 liters (around 1,250 barrels) of oil in an aboriginal community, the provincial government said.
OPEC and other oil producers are likely to comply fully with a deal to reduce supply, bringing global crude markets into balance early this year, Kuwaiti Oil Minister Essam al-Marzouq said.
Oil prices were steady on Tuesday as news of lower production by OPEC and other key exporters was balanced by reports of more drilling and higher output in the United States.
Benchmark…
Germany must carry on with legislation aimed at capping energy costs and ironing out inefficiencies in its renewable energy expansion, Economy Minister Sigmar Gabriel told an energy industry…
The robot on an oil drillship in the Gulf of Mexico made it easier for Mark Rodgers to do his job stringing together heavy, dirty pipes. And it eventually cost him his job.
Iraq's oil minister said on Monday that most oil majors working on its territory were participating in oil output reductions agreed as part of the deal between OPEC and non-OPEC producers to help…
Development of two new oil desalting units in Kohgiluyeh-Boyerahmad Province in the southern oil regions will increase Iran’s oil output capacity by 15,000 barrels per day, managing director of…
Several dozen filling stations are planned to be tendered next month, marking the third major bidding for privatizing gas stations in less than six months, said Jafar Sobhani, an advisor to Iran…
The National Iranian Oil Company is keen to finalize high-priority oil and gas deals by the end of the current fiscal year in March, including Phase 11 of South Pars Gas Field and a plan to…
Iran will pay $1.9 billion in compensation to Turkey's state oil and gas company Botas following an international tribunal ruling that Ankara was overcharged for its import of Iranian gas, a top…
Germany's Siemens said on Monday it has received a major order for 12 compressor trains for two onshore gas processing plants in Iran. It said the order volume is "in the high double-digit million…
