Oil rose further above $68 a barrel on Tuesday, touching its highest since May 2015, supported by OPEC-led production cuts and expectations of US crude inventories falling for an eighth week.
Energy
South Pars 400-kilovolt gas-insulated substation is expected to become operational in May, an official of Pars Oil and Gas Company said.
Tehran may soon face a double whammy of critical water shortages and blackouts, if rainfalls continue to remain scant and scattered in the next few months, a power industry official said.
A tanker carrying Iranian oil that collided with a Chinese freight ship in the East China Sea was still on fire on Tuesday, the Chinese government said, as dozens of rescue boats struggled to…
OPEC members do not want Brent oil to rise above $60 a barrel because higher prices could bring more supply from shale output, Iran’s oil minister said.
Eleven men were charged in a Singapore court on Tuesday in connection with a large-scale oil theft at Shell’s biggest refinery, while police said they were investigating six other men arrested…
OPEC’s strategy to end a worldwide crude glut is causing havoc for a vital link in the oil industry’s supply chain: the fleet of supertankers that shuttle fuel between continents.
The…
Oil prices were stable on Monday, supported by a slight decline in the number of US rigs drilling for new production, with crude holding just below near three-year highs reached last week.
US oilfield service companies are gearing up for initial public offerings, according to regulatory filings and analysts, after several shelved equity sales last year during a weak period for oil…
Various countries in the world’s most oil-dependent region, the Middle East, have started to look above ground for generating energy to diversify away from their primary below-ground energy…
The Thermal Power Plants Holding Company has signed a contract with unnamed investors to build power plants with a total electricity generating capacity of 5,000 megawatts, or 5 gigawatts, the…
The government has approved a fund-raising plan to complete the construction of Iran's largest oil refinery in the southern city of Bandar Abbas, Hormozgan Province.
Iran's natural gas export to the city of Basra in southern Iraq can take place in March, the managing director of state-run National Iranian Gas Company said.
Domestic experts have indigenized wind turbine transformers, which can save the country as much as $130 million per annum, Arsalan Fathipour, a member of Iran Electricity Industry Syndicate,…
Iran's light crude crossed $65 a barrel in the week to Dec. 30, topping off a year that saw global crude benchmarks rising to their highest levels in more than two years.
The Iranian…
Iraq will start exporting oil from the northern Kirkuk fields to Iran before the end of January, Iraqi Oil Minister Jabar al-Luaibi told reporters in Baghdad on Sunday.
About 30,000…
Libya earned $14 billion in oil revenues in 2017, nearly three times more than in the previous year, allowing it to halve its budget deficit, the central bank said, amid a partial recovery in…
Germany has crossed a symbolic milestone in its energy transition by briefly covering around 100% of electricity use with renewables for the first time ever on Jan. 1.
In line with plans to fast-track gas production from South Pars Gas Field in the Persian Gulf, two offshore platforms of the field's phases 22 and 24 are expected to be up and running by March…
Production from South Yaran Oilfield near the Iraqi border that started in November has stabilized at 10,000 barrels per day, the head of the field's development plan at Iran's Petroleum…
A tanker carrying Iranian condensate and run by the National Iranian Tanker Company was ablaze and spewing its cargo into the East China Sea on Sunday after colliding with a Chinese bulk ship,…
OPEC deepened compliance with an oil supply-cutting deal in December due to a further decline in Venezuelan output and extra cuts by Persian Gulf exporters, a Reuters survey found, showing…
The US Interior Department announced plans to offer blocks in the Arctic, Atlantic and Pacific oceans for oil and gas exploration in an ambitious new five-year offshore lease plan.
Oil prices fell on Friday, dropping from highs last seen in 2015, as soaring US production undermined a 10% rally from December lows that was driven by tightening supply.
Rising US…
Ongoing talks to export natural gas to Georgia have resumed and should they yield favorable results, natural gas will be delivered to Georgia through Armenian territory, the managing director of…
