Multibillion-dollar deals have been signed with East Asian companies to develop dam infrastructure in Iran while the Energy Ministry has put several dam projects on the back burner due to funding…
Energy
Oil hovered around three-month lows on Monday, as rising US inventories and drilling activity offset optimism over OPEC's efforts to restrict crude output.
Brent crude was up 4 cents on the…
British oilfield services company John Wood Group has agreed to buy Amec Foster Wheeler in a deal valuing its smaller rival at about $2.7 billion and averting a planned $600 million rights issue…
The price European utilities pay for their natural gas is on a tear. Rates for Russian fuel at the German border last month jumped the most in seven years, extending their gain since September to…
Last week was a difficult spell for oil prices, which dropped to below the $50 a barrel threshold for the first time this year. But the cost of a barrel of oil could jump to $60 by the end of the…
Spanish energy company Repsol says an oil reserve of 1.2 billion barrels has been identified in Alaska's North Slope, which the company says is the largest onshore discovery in the…
A delegation led by Dharmendra Pradhan, India’s minister of petroleum, participated in CERAWeek in Houston. The objective was to inform prospective investors about the opportunities in the…
Oil Minister Bijan Namdar Zanganeh says domestic companies have the potential to manufacture 85% of equipment needed by the in the oil and gas industry.
"If we proceed according to plans,…
South Korea's Hyundai Engineering Co. (HEC) signed an agreement on Sunday for financing and constructing the second phase of Kangan Petro Refining Complex -- a major petrochemical and refinery…
In line with plans to fast-track gas production from South Pars Gas Field in the Persian Gulf, the last offshore platform of South Pars Gas Field's Phase 19 has been successfully installed, the…
The first phase of Kohak Wind Farm expansion program, that cost $92 million was completed by Iran's MAPNA Group in 18 months, Energy Minister Hamid Chitchian announced on Sunday.
Vietnam's Daklak Province on Saturday granted licenses and signed memoranda of understanding for the development of several solar power projects worth a combined $3.3 billion.
More than 1 billion liters of gasoline is stored to meet the demand during the annual Nowrouz holiday season that begins next week, the chief executive of National Iranian Oil Products…
Royal Dutch Shell has bought only three cargoes of Iranian oil since sanctions were eased a year ago, a small fraction of what it used to buy and an indication of the legal difficulties and high…
BP Plc’s shares surged the most this year after a London-based newspaper reported on rumors that Exxon Mobil Corp. sounded out major shareholders over a potential takeover.
While a bid for…
Japan's Chugoku Electric Power Co and JFE Steel may need to rethink plans for a new coal-fired power plant if they cannot present clear measures to address climate change concerns, Japan's…
Expanding the national gas network and replacing oil byproducts as feedstock with natural gas in refineries and power stations have led to an increase in export of petroleum products, the head of…
An official at the National Iranian Oil Company says Iran is no longer concerned with gas export to Pakistan as Islamabad has shown little if any determination to complete the long-delayed Iran-…
Royal Dutch Shell Plc will sell almost all of its production assets in Canada’s oil sands in a $7.25 billion deal that cuts debt and reduces involvement in one of the most environmentally damaging…
Deepwater oil drilling can be expensive, time-consuming and a hard sell to investors. But the world's top energy firms are restarting their search for giant oilfields under the ocean after a two-…
Russian oil firm Gazprom Neft said on Thursday it had launched three new wells at the Badra oilfield in Iraq. The overall oil production rate of the three wells is 23,000 barrels per day, and…
Oil prices recovered a little on Friday after dropping to their lowest in more than three months, pressured by heavy oversupply despite OPEC-led production cuts.
One of the policy priorities of the Oil Ministry is to expand domestic gas infrastructure and plug the gap in natural gas production with neighboring Qatar in the giant South Pars field, says…
Iran can transition to a fully renewable electricity system and financially benefit from it by 2030, according to researchers from Lappeenranta University of Technology (LUT) in Finland.
Senior Saudi energy officials told top independent US oil firms in a closed-door meeting this week that they should not assume OPEC would extend output curbs to offset rising production from US…
