Brent crude oil prices were lower on Friday after rising above $51 a barrel to an eight-week high, capping a rally driven by speculation producers could agree to measures to support crude.
Energy
Nigerian Oil Minister Emmanuel Ibe Kachikwu said on Thursday that while a cut in OPEC production is unlikely, there is hope a meeting of producers in Algeria next month could help shore up crude…
South Korea's crude oil imports rose 4.5% in the second quarter of 2016 from a year ago due to growing shipments from Iran after sanctions were lifted, while local oil consumption also increased…
German engineering giant Siemens will cooperate to expand Bandar Abbas Thermal Power Plant in the southern Hormozgan Province, managing director of Hormozgan Power Generation Management Company…
OPEC is on course to strike an output-freeze deal with fellow oil producers in Algiers next month because its biggest members are already pumping flat out, the group’s former president said.
More than 95% of the much-needed equipment in South Pars Gas Company are manufactured with indigenous knowhow, SPGC's vice president for renovation and overhaul said on Wednesday.
Iran is closer than ever to resuming oil swaps with Caspian Sea littoral states after the former Iranian government unilaterally ended swap operations in the region in 2010 in a controversial…
National Iranian Oil Company exported 2.74 million barrels of oil and gas condensates per day in July, of which 600,000 barrels were gas condensates, the company's director for international…
The aggregated output of oil pumped from the Badra Oilfield in Iraq by a subsidiary of the Russia oil giant Gazprom Neft has reached 3 million tons, the company said on Tuesday.
Oil prices reached their highest level in more than five weeks on Tuesday, as the market rode optimism over potential producer action to prop up the market. Brent crude futures hit a high of $48.…
The Russian edition of Forbes Magazine is reporting that French Oil giant Total has laid off 70% of its Russian workforce through its office in Moscow. The dismissed staff members are said to have…
India's July oil imports from Iran rose to their highest in at least five years, climbing to over 500,000 barrels per day for the second time in five months, revised tanker arrival data obtained…
Equipment needed for the completion of South Pars Gas Field’s Phase 20 platform have entered Iran’s Khorramshahr Yard after being released by an unnamed producer company.
“The unblocked…
Iran Petrochemical Commercial Company and the Indonesian state-owned oil and gas giant Pertamina have signed a memorandum of understanding on cooperation in petrochemical industry, IPCC's chief…
Foreign companies operating in Iran's oil and gas projects will hold no rights of ownership or authority over the country's hydrocarbon reserves or any production facility, the state-run National…
The global oil market faces a sharp drop in supply in 2017 from Venezuela, traditionally a prominent exporter, as an acute political and economic crisis halts investments needed to squeeze more…
Iran has made no decision about joining an OPEC meeting on oil output next month and does not expect to reach the production levels that its government has previously said are required before it…
Iran, holder of the world’s largest natural gas reserves, says it will start exports to Iraq next month, more than a year later than it originally planned.
"Shipments will start at 7…
The Majlis Energy Commission voiced his support for Iran's new model of oil contracts on Monday following reports that a group of lawmakers are taking action to limit the extent of the…
Energy Minister Hamid Chitchian on Monday hit back at criticisms over a multibillion dollar deal signed two months ago with Turkish energy company Unit International for building power plants in…
Top managers from India's Oil and Natural Gas Corporation Videsh Limited, Oil India and Indian Oil Corporation are due to visit Tehran this week to submit and finalize their financial proposal for…
South Korea's crude imports from Iran rose further in July by nearly fourfold from a year ago and 5.9% higher than the previous month, after international sanctions were lifted on Tehran's…
Jabbar al-Luaibi, former head of Iraq’s biggest oil producer, has been appointed oil minister as a costly war against the self-styled Islamic State terrorist group has capped investments in the…
Russia, the world's top oil producer, is consulting with Saudi Arabia and other producers to achieve oil market stability, Energy Minister Alexander Novak said, adding that the door is still open…
Oil prices may have risen since the start of the month, but analysts believe the lackluster outlook for global demand—amid a shaky global growth environment and stubborn oversupply—should be more…
