Saudi Arabia will continue to work with all main oil producers to limit market volatility and is committed to meeting a big part of global oil demand based on commercial considerations, its…
Energy
The UAE will reduce domestic prices for gasoline in March while raising them for diesel, the ministry of energy said on Sunday. The price of a liter of octane 95 gasoline will fall to $0.37 from $…
The research-based development of Ahvaz Oilfield, in cooperation with a British oil company LR-Senergy, has started, the head of reservoir studies and field development department of Research…
The first batch of high-tech turbines and compressors blocked by Siemens due to international sanctions was released and unloaded in Assaluyeh, Bushehr Province, on Friday.
National Iranian Oil Company has reportedly signed deals with the world's largest commodity traders to import gasoline in exchange for crude oil.
Negotiations on the swap agreement have…
The Oil Ministry’s debts to banks and contractors have reached a staggering $56 billion, a deputy oil minister said on Sunday.
“The Oil Ministry’s unpaid dues owed to banks for the…
China is in the final stages of opening a line of credit for developing a petrochemical complex in Masjed-Soleiman in the southern Khuzestan Province, managing director of Masjed-Soleiman…
Global geological exploration of hydrocarbon reserves is going to decline in 2016 by 10-20%, Russian Minister of Natural Resources and Environment Sergei Donskoi said on Friday.
"Different…
Despite recent disagreements among OPEC members, Nigerian Oil Minister Emmanuel Ibe Kachikwu told CNBC that the Organization of Petroleum Exporting Countries will be able to come…
Petroleo Brasileiro SA secured a $10 billion loan from China Development Bank, as the beleaguered state-owned oil producer endures the worst crude market in a generation and faces more than double…
Shale producers may not snap back quite as fast as hoped, if oil prices stay in the $30-per-barrel range for much longer.
Energy drillers say the US is finally beginning to see real…
Following the drop in global gas prices, Qatar and Russia are on the verge of a "price war" that could translate into aggressive discounts and huge price cuts, an energy market analyst said.
Iran and Indonesia signed a memorandum of understanding on cooperation in oil, gas and petrochemical projects, as well as expansion of bilateral energy ties, between this month in the city of…
Arab members of OPEC as well as the world's top oil producer Russia should make room for Iran's return to the global oil market, a senior energy analyst said, adding that winning back market share…
Turkey has begun to repair a pipeline taking crude oil from northern Iraq to the Mediterranean through its restive southeast and aims to restore flows soon, the Turkish Energy Ministry said on…
Brent crude oil hit its highest level since early January on Friday and was on track for its first weekly gain in a month as strong US gasoline demand and supply disruptions outweighed concerns…
Iran has started trial production of oil in Yadavaran Oilfield, West Karun, to ensure the field will have sustainable production, the field’s director said.
Iran’s Ghadir Investment Company and Azerbaijan’s state-run SOCAR will jointly invest in oil and gas projects, Mohsen Pakaeen, Iran's ambassador to Azerbaijan, said on Thursday. "An investment…
Hellenic Petroleum, Greece's biggest oil refiner, will receive its first shipment of Iranian crude oil next month, a company executive said on Thursday.
"It was announced at a board meeting…
Around half of Iran's estimated 1.2 million tons of fuel oil exports loading in February are expected to reach Singapore, market sources said this week.
Iran is believed to have…
Russian energy giant Gazprom has reduced natural gas supplies to private sector companies in Turkey by 10% due to a price dispute, officials at Turkey's Energy Ministry said on Thursday.
The potential for investment in Iran's oil and gas projects in the Persian Gulf is projected to exceed $20 billion, Iranian Offshore Oil Company’s managing director said on Saturday.
A high-level Swiss delegation, headed by the country's President Johann Schneider-Ammann, arrived in Tehran on Friday in a visit that can lead to major improvements in the two nations' limited…
Saudi Oil Minister Ali al-Naimi said on Tuesday he was confident more nations would join a pact to freeze output at existing levels in talks expected next month, but effectively ruled out…
Oil services company Petrofac will reopen its office in Iran, its chief executive said on Wednesday, as the lifting of western sanctions on Jan. 16 allows foreign companies to rekindle business…
