Saudi Arabia has kicked off its $50 billion renewable-energy push as the world’s top crude exporter turns to solar and wind power to temper domestic oil use in meeting growing energy demand.
Energy
Oil prices rose on Monday but the gains were limited as investors gauged whether an increase in US drilling rigs and record stockpiles would undermine efforts by producers to cut output and bring…
A consortium led by Russian oil major Rosneft plans to finally complete its $12.9 billion acquisition of India's Essar Oil next month, two Russian sources close to the deal told Reuters. Acquiring…
Oil Minister Bijan Namdar Zanganeh on Monday signed two preliminary agreements in Iraq on developing joint fields and expanding gas trade with the Arab neighbor.
The first agreement…
Japan is set to import a naphtha cargo from Iran this month, a source said, marking the first import from the Middle Eastern country since 2011.
Iran has sold its entire inventory of gas condensates in China, the Oil Ministry's official news agency, Shana, reported on Monday. Iran had stored up 10 million barrels of condensates in China as…
Bandar Abbas Refinery in the southern Hormozgan Province will begin production of 4 million liters per day of gasoline compliant with Euro-4 standards in the third quarter of 2017, the managing…
Gas supply to Sistan-Baluchestan’s provincial capital Zahedan will begin next week, the spokesperson for the National Iranian Gas Company said on Monday.
Oil pricing agency S&P Global Platts said on Monday it was making the first major overhaul of its Brent oil assessment in a decade to address falling supply underpinning the benchmark that…
Russia overtook Saudi Arabia as the world’s largest crude oil producer in December, when both countries started restricting supplies ahead of agreed cuts with other global producers to curb the…
The National Iranian Oil Company held talks on boosting collaboration with the China Petroleum and Chemical Corporation (Sinopec) in a meeting in Tehran Sunday.
Abu Dhabi National Oil Co. awarded a stake in its largest oil concession to China National Petroleum Corp. as the Middle East emirate brings in more foreign investors to raise crude production…
Iraq's oil reserves have increased to 153 billion barrels, from a previous estimate of 143 billion barrels, Oil Minister Jabal al-Luaibi said on Sunday. Iraq will ask the Organization of Petroleum…
The pace of drilling operations in Iran is half of that of international firms with access to cutting-edge technology, the National Iranian Oil Company said on Saturday.
The Energy Ministry is dispatching dozens of maintenance crews to Khuzestan Province to repair and rebuild electrical infrastructure that was battered by severe dust storms in the past few weeks,…
A fire broke out after an explosion on Saturday at a California oil refinery that local residents had planned to protest against later in the day due to concerns over pollution and past accidents…
With non-OPEC producers poised to grow again, OPEC will need to increase oil output by just 2.2 million barrels per day to meet global incremental oil demand of about 5.5 million bpd in 2017-22,…
State oil giant Saudi Aramco said on Saturday it had contained a “limited” oil leak from one of its pipelines near Abqaiq that had caused the death of a contractor and injured three other people,…
Serbia is interested in expanding ties with Iran in power sector following the implementation of Iran’s nuclear deal in January last year.
Serbian Minister of Energy and Mining Aleksandar…
Renewable energy accounted for 90% of new power added to Europe’s electrical grids in 2016, according to WindEurope, an association based in Brussels that promotes the use of wind power in Europe…
Iran has resumed electricity export to Iraq after it halted supply in the beginning of the year, according to a Friday report by Mehr News Agency.
The report purported that supplies are…
A global deal to cut oil production has had the unintended consequence of aiding Europe's older refineries by bolstering supplies of light crude while curbing shipments of the heavier grades…
US shale producers are facing their first production cost increase in five years in 2017 as industry activity picks up and energy service providers hike fees to take a bigger share of the profits…
Crude oil output will reach 4 million barrels per day in April, head of the National Iranian Oil Company said on Saturday.
“Oil production was expected to reach 4 million barrels a day by…
Turkish energy company Unit International's deal with the Energy Ministry has been cut down to one-third from an initial agreement to construct power plants in Iran with a total output capacity of…
