Energy

The National Iranian Oil Company has signed new spot oil export contracts with BP and the Anglo-Dutch Royal Dutch Shell to provide them with oil and gas condensates, director for international…

Imports of crude oil by Iran's four major buyers in Asia in November more than doubled for a second straight month from a year ago, with purchases by India and South Korea more than four times…

Egyptian Oil Minister Tarek El Molla has signed three offshore oil and gas exploration and production deals worth a total of at least $220 million with France's Total, Britain's BP and Italian oil…

The steam unit of Bandar Genaveh Combined Cycle Power Plant with an output capacity of 160 megawatts is expected to go on stream on Thursday in a ceremony attended by Hamid Chitchian, the energy…

Russian oil producer Gazprom Neft said on Tuesday it planned to increase oil production by 4.5-5% next year, less than it had intended before Russia joined a deal to cut global production with…

Completion of the South Pars Gas Field project is estimated to cost upwards of $90 billion as Iran aims to raise natural gas production from the giant field to more than 700 million cubic meters…

 Iran needs an efficient and judicious pattern in energy consumption as the country has committed to meeting international climate obligations under a legally-binding agreement signed last…

Iran exported 15.2 million tons of petrochemicals and polymers, worth $6.5 billion, in the first nine months of the current fiscal year that roughly coincides with March-December.

The lion'…

Oil edged further above $55 a barrel on Tuesday, drawing support from expectations of tighter supply once the first output cut deal between OPEC and non-OPEC producers in 15 years takes effect on…

Toshiba Corp said it may have to book several billion dollars in losses related to a US nuclear power acquisition, a shock warning that sent its stock tumbling 12% and rekindled concerns about its…

India’s biggest oil and gas producer will pay as much as $1.2 billion to buy a majority stake in a gas field off the country’s east coast, aiming to boost production as the country seeks to cut…

Russia's output of oil products is expected to fall by about 2.5% in 2017 due to further work on a massive refinery modernization program aimed at boosting fuel quality, a deputy energy minister…

Workers at Brazil's national oil company, Petrobras, began a strike last week that has paralyzed operations at its refineries and offshore platforms. The strike comes after workers rejected a…

Oil exploration in the Persian Gulf is now on the agenda of the National Iranian Oil Company's exploration department that is why "Sahar 1" drilling rig will be employed to expand explorations in…

Tehran may sign several oil and gas deals soon, building up on a raft of preliminary agreements with energy majors as it gradually opens up its huge energy sector to multinationals and foreign…

The government is enforcing new regulations that restrict new state funding for new power plant and dam projects in the next five years, Alireza Daemi, the deputy energy minister said.

Poland is willing to expand cooperation with Iranian companies in maritime transport and related industries.

The global offshore oil industry could cut exploration costs by more than 30% if it would just agree to use standardized equipment, according to the International Marine Contractors Association (…

The world's first solar highway has opened in France, in the not-very-sunny village of Tourouvre au Perche in Normandy. The roadway is just 1-kilometer long, but that still works out at 2,800…

The past two and a half years have not been kind to oil companies. But drillers and energy services firms have dramatically slowed the deluge of bankruptcies that tied up nearly $80 billion of…

Plans to overhaul Iran's retail fuel market are expected to get underway next month with the privatization of several gas stations nationwide.

South Pars gas extraction offshore platform 17B, weighing 2,300 tons, has been installed with the help of a domestic HL 5000 crane ship in line with plans to fast-track gas production from the…

The Riyadh-based newspaper al-Eqtisadiah retracted a story saying Saudi Arabia is planning to sell almost half of Saudi Arabian Oil Co., the world’s largest oil company known as Aramco.

Rosneft's plans for next year allow it to be flexible with production volumes, Russia's top oil producer said on Saturday, after Moscow clinched a deal with OPEC to cut production to bolster weak…

Saudi Arabia is planning to sell almost half of Saudi Arabian Oil Co., the world’s largest oil company.

A 49% stake will be sold within 10 years, according to al-Eqtisadiah, the Riyadh-…