Oil consumption could take a major hit in the coming years as a growing number of countries take steps to yank the internal combustion engine from their streets, Barclays analysts forecast.
Energy
A consortium of Iranian and Chinese companies will implement the first phase of an extensive national plan to refurbish Iran’s aging electrical infrastructure, including the reconditioning of…
What is 47 billion barrels in oil and gas really worth in an age where renewable sources are increasingly filling the world’s energy needs?
In line with efforts to complete the development project of South Pars Phase 13, loading operations for the field's tripod for flare stack 'D' to be transferred and installed in the Persian Gulf…
Saudi Arabia made no firm pledge on Thursday to extend a deal agreed by OPEC, Russia and other producers on cutting supplies but said it was “flexible” regarding Moscow’s suggestion to prolong…
Virginia Governor Terry McAuliffe has announced that Facebook is set to invest over $1 billion in the US state. The tech giant will invest $750 million to construct a data center of over 9,000…
Denmark's major offshore explorer Maersk Oil is in a strong position to win a contract to produce ultra-light crude from Iran's South Pars gas field and its recent acquisition by France's Total…
Nearly a year into the production-cut deal that brought together major OPEC and non-OPEC oil producers, Oil Minister Bijan Namdar Zanganeh said there was no pressure on Iran to join the cuts.
New solar photovoltaic capacity increased by 50% in 2016, according to a renewables market analysis and forecast from the International Energy Agency.
Russian President Vladimir Putin said Moscow is open to extending a deal with OPEC to curb oil supplies to the end of 2018, though he will wait to make a decision near the expiry of the current…
The Persian Gulf Holding Company is poised to sign an economic feasibility studies agreement with French energy major Total S.A. for a joint petrochemical venture in the next few weeks.
Lukoil signed two preliminary agreements with the National Iranian Oil Company on Tuesday to study the Caspian Sea's oil and gas potentials, paving the way for Russia's second-largest oil…
Oil Minister Bijan Namdar Zanganeh has appointed Mohammad Reza Nematzadeh, a former minister, as his chief industrial adviser, the National Iranian Oil Company's news portal said in a statement…
The Persian Gulf Petrochemical Industries Company has recently started shipping petrochemical and polymer products to South American markets, namely Peru and Argentina, a company official said…
Oil edged lower on Tuesday, as speculators took profits on some large positions that have built up in the last couple of weeks, but the prospect of gradually ebbing oversupply lent support.
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Renewables made up close to a third of electricity in Britain during the second quarter of 2017, breaking the country's previous record (Q1 2017) for the highest percentage of electricity…
The National Iranian Oil Company is vetting the proposals of foreign oil giants for developing three oilfields in southern Iran.
The privatization of state-controlled oil company Petroleo Brasileiro SA is feasible in the long run, Brazil’s Mines and Energy Minister Fernando Coelho Filho said late on Monday, in a…
French energy major Total reiterated its pledge to a major gas project in Iran despite concerns that the actions of US President Donald Trump against the nuclear accord with Tehran could throw…
The National Petrochemical Company sees an opportunity in shaking up the economy of underdeveloped regions by promoting investments in petrochemical plants there.
Marzieh Shahdaei,…
Iran set yet another timeline on Monday for signing a deal to develop its coveted Azadegan Oilfield which has been in the media spotlight in the past two years as the first of a string of…
Saudi Arabia and Russia plan to set up a $1 billion fund to invest in energy projects, Russian Energy Minister Alexander Novak said in an interview broadcast by Al Arabiya TV on Monday.
Forecasts for US shale oil growth and uncertainty around China’s crude imports may see oil stocks building again next year after OPEC and non-OPEC cuts contributed to substantial draws this year…
Oil fell more than $1 a barrel to below $56 on Monday as a rise in US drilling and higher OPEC output put the brakes on a rally that saw prices score their biggest third-quarter gain in 13 years…
Having made inroads in the world's largest gas field in the Persian Gulf after a decade of development, Iran is moving on to other gas ventures to diversify its natural gas supplies amid hopes…
