Iran's economy could have plunged into an "oil-for-food" crisis if sanctions against its banking and energy sectors were still in place, Oil Minister Bijan Namdar Zanganeh said in an interview.
Energy
China has successfully produced natural gas from methane hydrate, also known as "flammable ice", in an experimental project in South China Sea, its land and resources ministry said on Saturday.
In line with policies to expand power generation infrastructure, Energy Minister Hamid Chitchian launched a 20-megawatt photovoltaic power complex in Kerman Province on Thursday and broke ground…
Iraq is looking to increase natural gas imports from Iran within an agreement that would allow the Arab country to receive up to five times more gas from the current level.
Oil prices edged higher on Friday, reaching fresh two-month highs and are on track to post the strongest weekly gains this year, as investors digested signs of an easing oversupply picture.
Royal Dutch Shell is gearing up for a world of "lower forever" oil prices, its CEO Ben van Beurden said on Thursday, after the company's profits tripled in the second quarter.
The oil and…
US crude oil production will average 9.3 million barrels per day in 2017 before reaching an all-time high of 9.9 million bpd in 2018, the US Energy Information Administration forecast.
Saudi Arabia’s financial advisors are recommending that London, not New York, should host Saudi Aramco’s initial public offering, set to take place next year, according to sources who spoke to…
The rebalancing in the oil market is accelerating, said Goldman Sachs in a note on Thursday.
"While OPEC's production path remains uncertain, recent fundamental oil data have come in even…
Oil prices firmed on Wednesday, holding near eight-week highs, as a fall in US inventories bolstered expectations that the long-oversupplied market was moving toward balance.
Brent crude…
The United Arab Emirates will import the country's first oil cargo from the United States, two sources familiar with the matter said, as the OPEC producer sought substitutes to replace Qatari…
Big Oil is starting to beat the crude-market slump, as the industry rediscovers how to make money at lower prices.
Exxon Mobil Corp. and Royal Dutch Shell Plc are forecast to more than…
By employing offshore and onshore rigs, the National Iranian Drilling Company has drilled over 96,000 meters of oil and gas wells nationwide since the beginning of the current fiscal year in March…
Three major power plant projects with a combined output capacity of over 1,400 megawatts are slated for launch in the western Kermanshah Province, the energy minister said.
In line with efforts to attract much-needed foreign funds to develop untapped hydrocarbon deposits in the Caspian Sea, Khazar Exploration and Production Company (KEPCO) has established an…
The launch of a gas pipeline stretching from the city of Damghan in Semnan Province to Neka in Mazandaran Province next week will end the country’s need for gas imports from Turkmenistan, managing…
Researchers in the US are designing and looking to develop 50-megawatt wind turbines with "extreme-scale blades" 200 meters in length.
To put things in perspective, if built, they will be…
New figures show that wind produced enough power to meet, on average, the electrical needs of 124% of Scottish homes between January and June of this year. The first six months of 2017 saw…
OPEC may need to consider extending its oil-cuts agreement when the group meets in November, as crude markets are taking too long to recover, UAE Energy Minister Suhail al-Mazrouei said.
Iran’s largest solar panel manufacturing company is under construction in Shiraz, the provincial capital of Fars, an official at Fars Regional Electricity Company said.
“The plant’s first…
In lines with policies to monitor and reduce air pollution in the fossil fuel industry, plans are in place to equip all petrochemical plants in Iran with online pollution control systems, director…
Leading investment bank Credit Suisse believes crude oil will not exceed $60 per barrel before 2020, contrary to estimates by several market analysts.
The bank dropped on Monday its long-…
Oil prices extended gains on Tuesday after Saudi Arabia pledged to curb exports from next month and OPEC called on several members to boost compliance with output cuts to help rein in oversupply…
Tehran has opened talks with Russia and several other countries on developing Farzad-B Gas Field in the Persian Gulf, a parliamentarian said, indicating that there will be no backdoor deal with…
Global oil demand could peak as early as 2024 if there are more efficiency gains in vehicles, greater market penetration by electric cars, lower economic growth and higher fuel prices, Goldman…
