US crude inventories are falling more than expected in a sign of the success of OPEC and non-OPEC production cuts, Kuwait's Oil Minister Essam al-Marzouq told CNBC Arabia on Monday. "We are now…
Energy
Russian oil major Rosneft, oil trader Trafigura and Russian fund UCP closed their $12.9 billion purchase of Indian refiner Essar Oil on Monday, giving the companies a foothold in a country that…
Total is buying Maersk's oil and gas business in a $7.45 billion deal the French energy major said would strengthen its operations in the North Sea and boost earnings and cash flow.
Oil prices fell on Monday as a rally at the end of last week prompted investors to close positions at a higher price, against a backdrop of signs the global market is starting to rebalance.
State oil company, NIOC, is set to hold a briefing this week on a long-anticipated tender for Azadegan Oilfield, the first major crude oil reservoir to be developed within the framework of…
Iran is facing a bumpy road in expanding natural gas export, Oil Minister Bijan Namdar Zanganeh said in an interview on Sunday, pointing to operational and financial impediments in gas trade…
The Energy Ministry is keen to make good on a promise to add at least 1,000 megawatts, or 1 GW, to total power generating capacity each year through 2022 with the help of the private sector, a…
The impending initial public offering of shares in Saudi Aramco, the world’s biggest oil producer by volume, will be a bellwether for investors’ belief in humanity’s readiness to curb the carbon…
Jam Petrochemical Company in southern Iran has succeeded in producing a high grade of polyethylene that will cut down the import of one of the world's most popular polymers.
Opening economic gateways to foreign investment is the only way to achieve Iran's ambitious goals in the petrochemical industry, former director of state-owned National Petrochemical Company…
Italy-based Saipem, a leading oil and gas contractor, has won a new contract worth $850 million for the engineering, procurement, construction and commissioning of the feed pipelines of the New…
Oil Minister Bijan Namdar Zanganeh said attracting foreign investment will be the centerpiece of his ministry in the next four years, hoping to build up on a multibillion-dollar gas deal with…
The Turkish Stream gas pipeline project will be implemented on time, regardless of the new US law that expands sanctions against Moscow, Russian Energy Minister Alexander Novak said on Friday.…
The expansion of wind and solar energy and the resulting avoided emissions from fossil fuels helped prevent up to 12,700 premature deaths in the US from 2007 to 2015, according a new study in…
The market for physical barrels of crude from places as far apart as Oman and Colombia is strengthening beyond the traditional seasonal peak in demand, a positive indicator for global benchmark…
Royal Dutch Shell has lifted a cargo of 600,000 barrels of crude oil from Libya's Zueitina Port, its first from the war-torn North African country in five years, two industry sources told…
Moscow and Tehran may soon agree upon conditions for the sale of 100,000 barrels of oil per day, according to the Russian energy minister.
Iran can start deliveries to Russia under the "…
Iranian petrochemical exports exceeded 7 million tons in the first four months of the current fiscal year (March 21-July 22), generating $3.5 billion.
The country exported 7.188 million…
Four crude oil cargoes from South Pars Gas Field’s oil layer have recently been shipped to East Asian countries, the traditional market of Iranian crude.
The shipments to East Asia are…
The Persian Gulf Star Refinery in Hormozgan Province has no problem selling its quality products to domestic and international markets, chief executive officer of the Persian Gulf Star Oil…
Hardwiring the culture of judicious electricity consumption in domestic consumers can help the country make up for part of its electricity shortages in the hot season, a deputy manager at Iran…
GE has announced that it has entered into an agreement with the Powering Australian Renewables Fund to both supply and install 123 wind turbines for what is set to be Australia's largest wind…
The National Iranian Drilling Company has completed drilling operations at 40 onshore wells in the giant South Azadegan Oilfield in Khuzestan Province, the company's deputy director said.
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The chief executive officer of Indonesia's state-owned oil and gas company, Pertamina, is confident that the company can explore two oilfields in Iran: Mansouri and Abteymour.
Citibank's commodities research team has tempered its outlook for oil prices over the next five years, but it sees room for price shocks if oil supply disruptions increase dramatically or fall…
