Iran's light crude oil traded at $51 per barrel in the week to August 25, up $1.24 in weekly trade.
The country's main exports grade, marketed as Iran Heavy, gained 96 cents to settle at…
Energy
Russia is likely to back a further extension of the OPEC agreement cutting oil output, judging that it has helped stabilize the market, the country’s deputy prime minister said.
Iran has unveiled a long-term solar energy storage system in the Science and Technology Park of Qazvin.
The storage system uses physical and chemical reactions to reserve solar steam,…
Iraq’s oil exports slipped to 3.21 million barrels per day in August from 3.23 million bpd in July, as no shipments were made from the northern Kirkuk field, the oil ministry said on Saturday.…
At least 13 toxic waste sites in Texas were flooded or damaged by Hurricane Harvey, adding on to the challenges as the area begins cleanup efforts following the deadly storm. The Environmental…
An international team of scientists is working on the biggest project in nuclear fusion in France to build the largest magnetic fusion machine—a tokamak—and test the commercial-scale viability…
Iran's petrochemical industry is on an upward trajectory, as data show an upswing in production and exports in recent months from last year's corresponding period.
Exports of gas condensates from South Pars Gas Field in the Persian Gulf in the first five months of the current fiscal year (started on March 21) experienced an 18% increase over the same…
Russian oil output slipped to a year-low of 10.91 million barrels per day in August from 10.95 million bpd in July, Energy Ministry data showed on Saturday, as Gazprom Neft suspended offshore…
The shutdown of almost a quarter of US crude refining capacity in the wake of Hurricane Harvey is presenting a rare opportunity for fuel traders in Asia. A spike in American gasoline prices as…
Pipe-laying operations have gained momentum to connect an offshore platform of Phase 14 and a second offshore rig for Phase 13 of South Pars Gas Field in the Persian Gulf to onshore facilities…
A joint effort by Iranian, Russian and Turkish companies can lead to producing more than 100,000 barrels of crude oil and over 80 million cubic meters of natural gas per day from Iranian fields…
The Industrial Development and Renovation Organization of Iran is testing the waters to set up a plant for manufacturing photovoltaic plants in Iran.
IDRO is currently carrying…
Iran's oil industry will experience a big leap in the next two years, as international energy majors have shown great enthusiasm in playing a role in the country's oil and gas ventures, the…
An unnamed German company has preordered a batch of methanol to be produced in Marjan Petrochemical Complex in Pars Special Economic Energy Zone near Asalouyeh, managing director of…
A decision on whether to extend a global oil output agreement between OPEC and non-OPEC producers will be taken in November, Iraqi Oil Minister Jabar al-Luaibi said on Friday. Should the OPEC-…
Iran has completed the construction of nearly 100 kilometers of pipeline to transport natural gas from an offshore platform in the South Pars Gas Field in the Persian Gulf to onshore facilities…
Imports of Iranian crude by major buyers in Asia rose in July from a 14-month low in the previous month, as purchases from South Korea surged by nearly 30% and those from China held steady,…
Work on constructing a 10-megawatt solar power plant in Qeshm Island started on Wednesday in what would be the first photovoltaic power station on the Persian Gulf island.
Transfer of technology is an indispensable part of Iran Petroleum Contract, the new model of oil contracts for developing Iran's oil and gas fields, as the country needs cutting-edge know-how…
The International Energy Agency still sees no need for a coordinated international release of oil stocks after Hurricane Harvey disrupted a large chunk of US refining and some production…
Output from the Organization of Petroleum Exporting Countries fell by 170,000 barrels per day in August, down from a yearlong high in July, according to feedback from a Reuters survey, which now…
Crude futures fell on Friday, partly reversing sharp gains from the previous session, amid ongoing turmoil in the oil industry following Hurricane Harvey with nearly a quarter of US refining…
China will pay farmers to turn animal droppings into fertilizer and power, the country's Ministry of Agriculture said on Wednesday, as Beijing cracks down on agricultural pollution that has for…
Hurricane Harvey has dealt a powerful blow to oil production in Texas and the Gulf of Mexico. Normally, that would spark fears of a supply crunch and lift the price of oil. Yet the opposite is…
