Oil prices on Friday stayed near three-year highs reached earlier this week, with ongoing OPEC-led supply cuts and strong demand gradually drawing down excess supplies.
Brent crude oil…
Energy
A meeting of the Joint Technical Committee of OPEC and non-OPEC oil producers part of the supply-cut pact announced on Thursday that oil inventories in developed economies had dropped to 12…
A South Korean venture with the UAE is edging closer to switching on the Arab world’s first commercial atomic energy plant.
French energy giant Total S.A. held a technical workshop in the southern Bushehr Province on Wednesday on "installation of offshore platforms". The event was attended by Total's representatives…
National Iranian South Oil Company plans to build its first industrial wastewater treatment plant beside Ahvaz Oil Desalting Complex in Khuzestan Province to optimize the use of water resources…
In line with the policy to expand the national gas grid, projects are underway to add over 1,500 kilometers of pipelines to the country's gas network in the current fiscal that started on March…
A 150-megawatt hydroelectric power plant was inaugurated on Thursday in the city of Behbahan, Khuzestan Province in southern Iran, in a ceremony attended by Energy Minister Reza Ardakanian.
Oil major Total said it will buy a majority stake in French electricity retailer Direct Energie in a €1.4-billion deal that will make it a major challenger to state-owned market leader…
The Russian Energy Ministry is working with Iran on extension of the agreement on oil supplies to Russia under the oil-for-goods program for five years, its energy minister told reporters on…
Middle East and North African countries need to invest $260 billion over the next five years for electricity production to meet rising demand, a report said on Tuesday.
The region, which…
Oil prices edged up on Wednesday, lifted by a reported fall in US crude inventories and the ongoing risk of supply disruptions.
Brent crude oil futures reached $71.90 per barrel, up 32…
Russia is committed to its OPEC pact with Saudi Arabia and will continue to supply Europe energy despite tensions with the West after US-led strikes on Syria, a Russian spokesman said.
The Iranian Oil Pipeline and Telecommunications Company transferred over 5.8 billion liters of petroleum products to five northeastern provinces of the country in the last fiscal year (ended…
The Organization of Petroleum Exporting Countries is moving toward maximizing its members' profit and stabilizing the market, the National Iranian Oil Company's former deputy for international…
Bid Boland Gas Refinery project in the city of Behbahan, Khuzestan Province, will play a significant role in the expansion of the downstream petrochemical sector, the head of National…
OPEC and allied producers will consider extending an agreement to cut oil output into 2019 when they meet in June to assess the market, Kuwait Oil Minister Bakheet Al-Rashidi said.
Oil prices rose on Tuesday amid worries there could be a high risk of supply disruptions, especially in the Middle East.
Brent crude oil futures were at $71.75 per barrel, up 33 cents,…
Citigroup analysts raised their forecast for oil prices for this year and next due to rising demand and the potential for supply losses from some major suppliers.
Even as they raised…
In spite of the recent rainfalls across the country, Iran will face power shortage in the summer, a deputy at Iran Power Generation, Distribution and Transmission Company (Tavanir) said on…
Domestic manufacturers are capable of providing technical services and producing 80% of advanced oil equipment to develop downstream and midstream projects that will be tendered by the Oil…
Iran's hydrocarbon reserves will last 155 years. Houtan Salari, a deputy at the National Iranian Oil Company, made the statement on the sidelines of "Third Argus Iran LPG and Petrochemical…
The National Iranian Drilling Company, a subsidiary of the National Iranian Oil Company, has signed two deals with NIOC's Exploration Management Department on providing equipment and services…
Efforts are underway to end gas flaring in two oilfields in the southern province of Khuzestan in the coming months, a senior official at the National Iranian Oil Company said.
The high price of gas feedstock used to generate electricity for export does not justify investment in building power plants, the head of the board of directors at Iran’s Electrical Industry…
With the US opting out of the Paris climate agreement, many have turned their focus to China to spearhead efforts to curb greenhouse emissions and move from fossil fuel to renewable energy.
