Sri Lanka has launched a tender to develop a gas block in the Mannar Basin off its northwest coast, vacated when Cairn India pulled out of an exploration project in 2015 as oil prices plunged,…
Energy
Iraq, OPEC's second-largest producer, plans to cut crude exports from its southern port of Basra to 3.013 million barrels per day in March, the lowest since August, a loading program obtained by…
Iran has made inroads in its oil and gas exploration sector with discoveries of 13 oil and gas reservoirs over the past three years, says the head of exploration department at the National Iranian…
The National Iranian Oil Refining and Distribution Company is in talks with European and Asian companies to use their expertise in reducing mazut production and increasing output of fuels with…
The development of wastewater treatment plants in and around Tehran requires €300 million ($318 million), said Mohammad Parvaresh, the managing director of Tehran Province Water and Wastewater…
Saudi Arabia told OPEC that it cut oil production by the most in more than eight years, going beyond its obligations under a deal to balance world markets.
The kingdom reported that it…
Major European oil companies need Brent prices of $50-60 a barrel for cash flow to break even in 2017, according to Fitch Ratings' analysis.
Gas output from the giant South Pars field in the Persian Gulf is set to rise by 90 million cubic meters per day by the end of the present fiscal year in March, taking production closer to that of…
An agreement between OPEC and non-OPEC producers last year to cut crude supplies has raised Iran's oil revenues by $30 million per day, a deputy oil minister said on Sunday.
"Tehran's daily…
While Russia is saying that it would undertake its share of promised oil production cuts, it is also saying it will be increasing its Urals crude oil exports in the first half of this year,…
Brent futures prices indicate the crude market is expected to move into a deficit with a significant draw down in stocks from the middle of the year.
The Iranian Oil Terminals Company (IOTC) is operating at full steam to boost oil exports, says Gholamhossein Gerami, the head of the company's export department.
The Energy Ministry is allocating 1 trillion rials (around $25 million) to restore power in the southern Khuzestan Province, particularly some water and wastewater treatment plants which have gone…
Swedish officials discussed the prospects for collaboration in the power and energy sectors in Tehran at the weekend.
Oil Minister Bijan Namdar Zanganeh said Tehran welcomes cooperation…
Iran Marine Industrial Company, Sadra, is building 10 offshore platforms to develop the remaining phases of the giant South Pars Gas Field in the Persian Gulf, the deputy for development and…
Russia will decide in April or May whether an agreement on global oil output cuts between members of the Organization of Petroleum Exporting Countries and non-OPEC producers, set to end on June 31…
A Brazilian federal court suspended on Friday the $5.2 billion sale of state-controlled Petroleo Brasileiro SA's natural gas pipeline unit to a group of investors led by Canada's Brookfield Asset…
The first floating production, storage and offloading (FPSO) unit, purchased by the National Iranian Oil Company, is on its way toward the oil layer of the giant South Pars Gas Field in the…
Tehran has set its sights on raising crude oil export to Europe in 2017 as the number of customers willing to buy from Iran is on the rise, head of the National Iranian Oil Company said.
Abadan Oil Refinery in the southern Khuzestan Province will be renovated using the knowhow of European companies and Chinese funding, the managing director of National Iranian Oil Engineering and…
Plans are underway to supply compressed natural gas (CNG) as feedstock to a power plant in south Iran, an official at the National Iranian Gas Company said.
The recent jump in US crude imports could reverse from March as major oil exporters start cutting production, Goldman Sachs analysts said in a note Friday.
European utilities will not reduce their investments in renewables if US President Donald Trump lowers US climate goals, encouraged by Chinese and EU political commitments to low carbon energy,…
Five phases of South Pars Gas Field will be up and running in the next few weeks, Oil Minister Bijan Namdar Zanganeh said. The five phases are forecast to generate $10 billion in annual revenues…
OPEC members have reached a record compliance of 90% with their agreed output cuts, the International Energy Agency said Friday.
