Iran is planning to make $40 billion a year from its flourishing petrochemical industry, Oil Minister Bijan Namdar Zanganeh said in a statement on Tuesday.
"Petrochemical production…
Energy
The National Iranian Oil Company has commissioned South Korean gas company KOGAS to undertake feasibility studies to develop Belal Gas Field in Hormozgan Province, southern Iran.
India is interested in setting up an LNG terminal at Chahabar Port in Iran to import natural gas from the Persian Gulf nation, Oil Minister Dharmendra Pradhan said.
New Delhi is keen to…
In the past 12 years, Iran’s consumption of compressed natural gas has witnessed a 53-fold increase, the National Iranian Oil Refining and Distribution Company’s director for CNG stations said on…
Oil fell on Tuesday as rising output from the Middle East renewed concerns about global oversupply while economic data painted a negative backdrop for the outlook for demand.
Brent crude…
Oil prices edged back from 2016 highs on Monday, as rising production in the Middle East outweighed a decline in US output and a sliding dollar.
Crude production by the Organization of…
India's oil imports from Iran rose 48.8% in April from a year ago as refiners bought more crude after the lifting of sanctions against the OPEC producer, although the purchases were down from a…
Iranian producers of oil equipment look forward to cooperating with foreign companies to dominate regional markets, the head of the Society of Iranian Petroleum Industries Equipment Manufacturers…
Petrochemical Commercial Company, the largest supplier of Iran's petrochemicals to the international markets, has signed a memorandum of understanding with an Austrian delegation on the export of…
South Korea on Monday took an important step toward strengthening its foothold in Iran's resurging gas industry, as it aims to become a key economic partner of the Middle East nation in the post-…
The parliament is considering a bill that will require the government to earmark a fraction of its revenues from crude oil and natural gas exports for the development of economic and 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.
