A general cooperation agreement between OPEC and non-OPEC countries will be signed in three months in Saudi Arabia, the UAE energy minister said Tuesday.
Energy
The first phase of a new desalination plant in Bandar Abbas, Hormozgan Province, was launched Tuesday. With a total capacity of 100,000 cubic meters of water per day, the unit will supply a…
Results of tenders for developing five oilfields in the south and southwest regions have been announced and five companies whose bids have been accepted will sign a contract with the National…
Brent crude oil futures rose on Monday after OPEC and some non-affiliated suppliers last Friday agreed to a supply cut from January. Despite this, the price outlook for next year remains muted…
The third gas sweetening train of the onshore refinery of South Pars Gas Field's phases 22-24 in the Persian Gulf has been launched, the operator of the phases said.
Iraqi Oil Minister Thamer Ghadhban said on Monday he expected the fall in oil prices to stop and for prices to rise over time, adding that if OPEC had not cut production, prices would have…
Australia overtook Qatar as the world’s largest exporter of liquefied natural gas for the first time in November, data from Refinitiv Eikon, one of the world's largest providers of financial…
Petrochemical output reached 37 million tons in the first eight months of the current fiscal (March 21-Nov. 20), production manager of the National Petrochemical Company said Saturday. The…
Malaysia will extend its oil production cuts by another six months after the agreement between OPEC and other oil producers to reduce global supply ends this year.
Distribution of liquefied natural gas in Sistan-Baluchestan Province has risen by 15% over the last eight months compared to last year's corresponding period, says the managing director of the…
The Energy Ministry’s proposal to increase electricity tariffs for heavy consumers has been approved by the Majlis special commissions and if ratified by the government, it will come into effect…
Khomein Petrochemical Complex in the namesake city in Markazi Province, with annual production capacity of 185,000 tons of polypropylene, will go on stream within a year, the site…
US shale producers cheered OPEC’s decision to trim output, a move that sent crude prices higher on Friday, closing at levels that oil executives said would keep their profits flowing.
Prices of polyethylene terephthalate (PET), a form of polyester that is used in the production of plastic bottles, have plummeted by 56% in recent days after sharp rise over the past few months…
China’s imports of crude oil hit a fresh monthly high in November, customs data showed on Saturday, beating the record set in October on heavy buying from private refiners and trial starts of…
Nouri Petrochemical Company in southern Bushehr Province has launched a program to increase paraxylene production and the project is due to be completed by the end of the current fiscal, the…
OPEC concluded its 175th meeting with an accord to remove 1.2 million barrels a day of crude from the market, with non-OPEC allies including Russia taking a 400,000 barrel-a-day share.
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To fast track gas production in the South Pars Gas Field in the Persian Gulf, the first offshore platform of the field's Phase 13 was installed on Wednesday. According to Payam Motamed,…
Energy Minister Reza Ardakanian said Tuesday construction work is underway for building 31 power plants with total capacity of 19,000 megawatts in 27 provinces.
Compliance across OPEC is in question amid conflicting interests regarding oil production cuts and an abrupt withdrawal announcement from Qatar. While the tiny Persian Gulf sheikhdom’s…
Expanding the gas grid and supplying households with natural gas in the underprivileged provincial capital of Zahedan is on track, the head of Sistan-Baluchestan Province Gas Company said. "…
Russia’s oil output dipped in November, preliminary data from Russia’s federal state budgetary organization CDU TEK said over the weekend, days before the OPEC summit scheduled for December 6…
In a bid to meet the increasing demand for electricity in Gachsaran, in Kohgiluyeh and Boyer-Ahmad Province in the southwest, a small thermal power plant will be connected to the national grid…
Oil prices will plummet to $40 a barrel unless OPEC and its allies cut output significantly, and the group is unlikely to succeed in reviving the market, a senior Iranian oil official said.
Natural gas to the Iraqi capital Baghdad that had been suspended last week after the magnitude 6.4 earthquake in Kermanshah Province, will resume soon, a spokesman for the National Iranian Gas…
