Natural gas from three new phases of South Pars Gas Field will start to flow into the national gas network by the end of next month, upon the completion of a refining facility for the three phases…
Energy
Crude oil inventories will decline at a faster pace worldwide in the second half of the year, as demand increases and OPEC members comply better with a global agreement to cut output, Kuwait’s…
Oil rose 1% on Friday as US crude producers added only two rigs in the latest week and on signs of increased Chinese demand, but trading was volatile as global supply remained strong.
Over the next seven years, Iraq will need Iranian natural gas supplies to feed its power-generation plants, because domestic gas output will not be enough, Iraq’s Minister of Electricity Qasim al-…
South Korea's crude oil imports from Iran increased 10.5% in June from a year earlier, as Tehran continued to ramp up output after international sanctions over its nuclear program were lifted.…
Iran will miss out on substantial revenues from oil and gas fields unless it raises the rate of recovery from its underground hydrocarbon reservoirs with the help of advanced technical know-how,…
Iran managed to avert an energy crisis in winter by raising natural gas supplies from reservoirs in the northeast, said the chief executive officer of East Oil and Gas Production Company.
The government hopes to sign 10 major oil and gas deals by the end of its fiscal year (March 20, 2018) after concluding a landmark deal with French energy firm Total to develop a gas project in…
Oil prices edged higher in choppy trading on Friday and were on track for solid weekly gains following positive demand signals and a reported decline in stocks.
The world’s biggest oil producers are starting to take electric vehicles seriously as a long-term threat.
OPEC quintupled its forecast for sales of plug-in EVs and oil producers from Exxon…
In line with a plan to meet Iran's electricity demand in summer, which has soared to record-high levels in recent days, the country's power exports to neighboring states declined by 400 megawatts…
Iran's crude oil production remained within the limits of an OPEC accord aimed at reducing output and easing a lingering global glut, OPEC said in its monthly report this week, citing independent…
International investors are increasingly looking at Iran as a strong market for renewable power projects, Energy Minister Hamid Chitchian said on Friday, anticipating a "big leap" in the country's…
OPEC's compliance with production cuts fell in June to its lowest levels in six months, as several members pumped much more oil than allowed by their supply deal, thus delaying market rebalancing…
A South Korean-Japanese consortium has signed a preliminary agreement worth $3 billion to develop Siraf Refining Park, a major downstream project in the city of Siraf in the southern Bushehr…
Iran and Anglo-Dutch major Royal Dutch Shell have reportedly entered into talks over developing the joint Azadegan Oilfield near the border with Iraq, chief executive officer of Petroleum…
OPEC's oil production rose again in June, driven by increases in Libya and Nigeria, and as top exporter Saudi Arabia reported pumping more than it agreed to last year.
The producer group's…
Global oil companies are facing the twin challenges of abundant supply coupled with pressure to reduce carbon emissions, and there is no "quick fix" solution, the chief executive of BP said on…
Oil rose above $48 a barrel on Wednesday in response to a fall in US fuel inventories and a cut in the US government's forecast for crude output next year, which raised hopes that a supply glut is…
A 14.4-megawatt combined heat and power (CHP) plant was inaugurated in the central Yazd Province on Wednesday in a ceremony attended by Sattar Mahmoudi, deputy energy minister, and Mohammad Hassan…
The Iranian government is negotiating oil projects worth $200 billion with 27 foreign companies, deputy minister for international affairs, Amirhossein Zamaninia, said on Tuesday, and some of…
The US Energy Information Administration said on Tuesday it expects US crude oil production to rise by less than previously forecast next year due to a lower price outlook. In the agency's latest…
Iranian Oil Minister Bijan Namdar Zanganeh said the gas contract signed with energy major Total this month will be a technological milestone that will help Iran lift its gas production and revenue…
Investments in electricity surpassed those in oil and gas for the first time ever in 2016 on a spending splurge on renewable energy and power grids, as the fall in crude prices led to deep cuts,…
Oil steadied on Tuesday after almost a week of sharp falls, but the outlook remained weak amid oversupply and several banks cut their price forecasts.
