Oil prices fell on Friday as concerns about surging US output and falling demand in China weighed on the contract and JP Morgan cut its price forecast.
Brent crude futures settled down…
Energy
A Canadian clean energy company and its founder who is a Harvard professor say that they have developed an affordable way to capture carbon dioxide from the atmosphere and convert it into clean…
OPEC is likely to reject a request by Iran to discuss US sanctions against Tehran at this month’s meeting of the oil producer group, a source familiar with the matter told Reuters.
Drilling operations at Kish Gas Field, the Persian Gulf’s second largest gas field after South Pars, will be completed in winter (ending March 20, 2019), the deputy chief of the National Iranian…
Iran's Research Institute of Petroleum Industry and Sharif University of Technology have piloted a project to indigenize special compressed natural gas tanks, which can help expand the CNG…
Pergas Consortium is ready to fill the gap created by companies that will be forced to leave Iran's oil industry due to US sanctions that are set to return in a matter of…
The outlook for oil is still bullish even if OPEC accedes to US pressure to boost supply, Goldman Sachs Group Inc.’s top commodities analyst said.
Venezuela has begun testing seaborne oil transfers to ease a severe backlog of crude deliveries from its main terminals, according to sources and data, as chronic delays and production declines…
An oil tanker hauling Iranian crude is making the first delivery to Chile in at least 16 years, a sign the Persian Gulf country may be seeking out new customers for its oil in the face of…
Iraq and Iran have not yet begun exchanging crude oil because of technical reasons, Iraqi Oil Minister Jabar al-Luaibi said on Wednesday. Iraq agreed last year to ship crude from the northern…
Iran has produced 2.72 billion kilowatts-hour from renewables in the past nine years, in its stable and steady bid to shift focus from fossil fuels to greener energies.
According to data…
Italy-based Saipem, a leading oil and gas contractor, has expressed readiness to have an active presence in Iran's petrochemical ventures.
Utility tunnels will expand across the capital Tehran, the managing director of Tehran Regional Electricity Company said.
Azerbaijan started to export electricity to Iran on June 1, the country's major electricity producer, Azerenerji JSC, announced.
Yahya Babanli, Azerenerji's spokesman, said the company…
In line with efforts to boost the country's oil refining output, Imam Khomeini (Shazand) Refinery's Euro-4 gasoline production capacity has reached 16.5 million liters per day, the refinery’s…
Swiss company Casale SA and National Petrochemical Company explored grounds for providing Iranian companies with their much needed technology and licenses.
According to NIPNA, NPC's…
Iran, as the only country that runs a deepwater semi-submersible drilling rig in the Caspian Sea, displayed its abilities in the drilling industry at an exhibition in Baku, Azerbaijan.
Indian state refiner Bharat Petroleum Corp has requested an extra 1 million barrels of oil from the National Iranian Oil Company for June, two industry sources said, amid a looming threat of…
Top oil exporter Saudi Arabia may raise the official selling price (OSP) for most of the crude grades it sells to Asia in July for a second month, possibly raising flagship Arab Light to its…
Daelim Industrial Company, a major South Korean construction firm, has canceled a construction deal worth 2.2 trillion won ($2 billion) with an Iranian oil refining company in the wake of the…
Shell said on Thursday it had started early production at a deepwater subsea development in the US Gulf of Mexico a year ahead of schedule and at a forward-looking, breakeven price of less than…
India will reportedly pay for Iranian oil in rupees, as the two countries seek to bypass the US economic pressure on Tehran, sources said.
Under the deal, the payments for oil will be…
US crude oil steadied on Friday after deep losses in the previous session on pressure from all-time high US production and expectations of higher OPEC output.
Japan could seek some kind of exemption from the returning US sanctions on Iranian oil exports, as its companies don’t want to abruptly stop importing Iranian crude, an official at Japan’s…
As part of a drive to protect the environment and curb air pollution, the Comprehensive Monitoring Office at the Department of Environment has reached a deal with the National Iranian Oil…
