Oil Minister Bijan Namdar Zanganeh hoped Iran and South Africa will sign a memorandum of understanding on oil and energy trade when the two countries' presidents meet in Tehran on Sunday.
Energy
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Halliburton Co. booked a $2.1 billion expense in the first quarter for cutting jobs and writing off assets, giving some results early and delaying the full earnings release as it strives to…
Sweden's Energy Minister Ibrahim Baylan on Saturday discussed the future of Tehran-Stockholm ties in the power sector in separate meetings with senior Iranian officials on Saturday.
Iran's Oil Minister Bijan Namdar Zanganeh said on Saturday last week's Doha meeting to freeze oil production, despite its failure, was a positive step and Iran would support any plan to stabilize…
Technical and economic feasibility studies for setting up the first Iranian petroleum coke company have been handed over to the French engineering firm Axens.
Plans have been devised to increase production capacity of petrochemical complexes by 6 million tons in the current Iranian year (started March 20, 2016).
Reliance Industries Ltd, India's biggest oil refiner, said it is looking to buy more crude from Iran, as the company seeks to rebuild ties to benefit from shorter shipping distances.
Venezuela's government said it will turn off electricity supply in its 10 most populous states for four hours a day for at least 40 days to deal with a severe power shortage. The power-saving plan…
Oil prices rose on Friday to $45 a barrel, heading for a third straight week of gains as market sentiment turned more upbeat despite persistent oversupply.
Traders said sentiment in the…
An official of the Society of Iranian Petroleum Industry Equipment Manufacturers said Iran is struggling with fundamentals to boost the export of oil industry equipment.
Danish wind energy company Vestas has started a new round of cooperation in Iran by helping generate electricity from wind, transferring the knowhow of wind power plants and turbines, and…
Ahead of the doomed Doha talks last weekend, Russia and Saudi Arabia said they were willing to discuss freezing oil output, but less than a week later both have threatened to ramp up production.…
Yadavaran Oilfield's production volume reached 50 million barrels in the last Iranian year (ended March 19, 2016), the field’s director said.
“The field’s first phase has made 98.6%…
Sweden's Energy Minister Ibrahim Baylan is slated to arrive in Tehran on Saturday to explore grounds for cooperation with Oil Minister Bijan Namdar Zanganeh. This will be the second and final leg…
The head of Iran's petroleum contracts committee said on Thursday the government has approved a model for new contracts, but it was still being processed by a commission.
Asked when the…
Plans have been made to integrate small petrochemical enterprises into one large privately-run entity within a decade, an official at the National Petrochemical Company said.
Oil prices rose on Tuesday as a strike by oil workers in Kuwait nearly halved crude production from the OPEC member, overshadowing bearish sentiment following Sunday's failure by producers to…
After taking over defense and economic planning, Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman has now stamped his authority over oil policy.
In so doing, the 30-year-old son…
Oil prices have plunged more than 60% from their peak of $110 per barrel in June 2014 amid fears that the global oil production was outpacing global demand.
Iran's oil production capacity will reach its pre-sanctions level of 4 million barrels a day in two months, the head of National Iranian Oil Company said, reaffirming Iran's policy of pumping more…
A prominent US company has called on Iran for purchasing petrochemical products, managing director of Abadan Petrochemical Company announced on Tuesday.
Without naming the American company…
Plans have been devised to undertake 46 power projects worth $61 million to meet Tehran Province's peak demand in summer starting from June 21, 2016, said the managing director of Tehran Regional…
The completion of South Pars Gas Field's phases in the Persian Gulf will bestow Iran a higher bargaining power in negotiations over gas export to regional customers, including Turkey, Iraq and…
While talks among major producers to cap oil output in Doha fizzled, investment advisory firm Sanford C. Bernstein & Co. sees a silver lining: Growing demand may bring one more super-cycle…
Russian Energy Minister Alexander Novak said oil freeze talks between OPEC and non-OPEC producers in Doha ended in a stalemate on Sunday because of Saudi Arabia's "unreasonable" demand that Iran…
