Iran, Russia and Azerbaijan are working on the issue of establishing the North-South Energy Corridor linking the three countries, Azerbaijan's Energy Minister Natig Aliyev said in a statement. The…
Energy
Iran and Brazil are in talks about a possible Iranian investment in troubled refinery projects controlled by Brazilian state-led oil company Petroleo Brasileiro SA, a Brazilian government source,…
Oil could drop below $20 a barrel as the search for a level that brings supply and demand back into balance makes prices even more volatile, Goldman Sachs Group Inc. predicted.
Iran is planning to boost crude processing capacity to 3.2 million barrels a day by 2021.
Speaking in a news conference on Tuesday, Oil Minister Bijan Namdar Zanganeh also called for a…
The first gas sweetening unit of phases 20 and 21 of South Pars Gas Field, which will receive gas from phases 6-8, will start production by mid-March, director of the phases said.
Alireza…
The world will store unwanted oil for most of 2016 as declines in US output take time and OPEC is unlikely to cut a deal with other producers to reduce ballooning output, the International Energy…
In line with the Iranian Energy Ministry's plan, South Korea's electricity giant Electric Power Corporation (KEPCO) and Iran Power Generation, Distribution and Transmission Company (Tavanir) can…
The world’s largest independent oil trader said it is "business as usual" with Iran, as Vitol Group BV confirmed buying oil from the country after the end of economic sanctions.
Crude oil prices eased in thin trade on Monday as a meeting between OPEC producers Saudi Arabia and Venezuela showed little indication that steps would be taken to boost prices.
A plan is gaining traction at the National Iranian Oil Company to start remediation and dumping of oily sludge, a polluting waste produced from crude oil.
German industrials conglomerate Siemens is cutting or transferring to other countries more than 1,000 jobs at a unit making gear for oil drillers and mining companies, as low oil prices have…
Japan’s Marubeni Corporation has expressed readiness to cooperate with Iran in South Azadegan Oilfield, one of the largest Iranian oilfields, managing director of Petroleum Engineering and…
The Saudi plot to reduce oil prices from $110 per barrel to $23 failed to cripple Iran's economy, the Majlis speaker said on Monday.
"Iran has already reduced its reliance on oil revenues,…
Saudi Arabian Oil Minister Ali al-Naimi said on Sunday he held “successful” talks with his Venezuelan counterpart about ways of cooperating to stabilize the crude market, without saying what steps…
The rise in gas export to Armenia depends on the construction of a new electricity transmission line between the two states, managing director of National Iranian Gas Export Company said on Sunday…
As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis.
Crude prices…
Croatia is unlikely to go ahead with plans to build a new coal-fired thermal plant in the northern Adriatic for which it entered into partnership talks with Japan's Marubeni Corp., the environment…
Oil Ministry will issue bonds to boost investment in a joint oilfield with Iraq, as Iran presses ahead with plans to raise crude production capacity by 1 million barrels a day within six months.…
Gasoline smuggling has declined significantly over the past few months, executive director of National Iranian Oil Refining and Distribution Company said, noting that diesel smuggling is still…
US President Barack Obama on Saturday proposed doubling US funding over the next five years for clean energy research and development, as part of his ongoing effort to tackle climate change.
In the presence of sluggish demand and a persisting supply glut, global oil markets are likely to face continuous downward price pressure from decreased demand and additional supply coming from…
After a year of low oil prices, only 0.1% of global production has been curtailed because it is unprofitable, according to a report from consultants Wood Mackenzie Ltd. that highlights the…
Long-term oil contracts help Iran safeguard its national interests and rights, but also handle economic crises like sanctions successfully, vice president of Iran Chamber of Commerce, Industries,…
Iran has signed deals to export a total of 300,000 barrels of oil per day to European customers since sanctions against it were officially lifted in January, with supplies to French oil and gas…
Anglo-Swiss commodity trader Glencore has chartered a ship to load oil at the Iranian southern port city of Bandar Mahshahr in a move that signals the return of Iranian crude and petroleum…
