Essar Oil has settled about €2 billion ($2.5 billion) in dues to Iran to cover previous oil purchases and still owes the country about $616 million, B. Anand, chief executive officer of the…
Energy
The country's refineries produced close to 214 billion cubic meters of natural gas in the fiscal 2017-18, the National Iranian Gas Company's production manager said.
"The output…
Bijan Namdar Zanganeh, the Iranian oil minister, cautioned the world against politicizing the global oil market, noting that adopting such a policy will harm not only suppliers but also…
Iran has reached an agreement with Azerbaijan to purchase 180 megawatts of electricity from the Caucasian country to prevent a potential power shortage in summer.
As per the agreement,…
Iran and its southern neighboring country Oman are expected to reach a final agreement on an offshore pipeline project to supply Iranian gas to the littoral state by the end of June, Oil…
Poland’s biggest oil refiner PKN Orlen said on Friday that a shipment of 130,000 tons of Iranian crude oil has arrived at the Baltic seaport of Gdansk.
Most of the oil refined in Polish…
Oil prices rose on Friday, making the largest weekly gain since July, supported by concerns about the possibility of western military action in Syria and reports of dwindling global oil…
Solar energy dominated global investment in new power generation like never before in 2017.
The world installed a record 98 gigawatts of new solar capacity, far more than the net…
OPEC is on the verge of “mission accomplished” in its quest to clear the global oil glut that caused the worst industry downturn in a generation, the International Energy Agency said.
Oil held near its highest in nearly three years on Wednesday, supported by political tension in the Middle East, although evidence of rising US crude supply acted as a counterbalance.
The construction operation of Iran’s first floating solar farm in Shahid Mohammad Montazeri Power Plant in Isfahan Province started on Tuesday.
The 1 megawatt floating photovoltaic farm…
Bushehr Nuclear Power Plant in the southern namesake city generated 7.4 billion kilowatt-hours of electricity in the past fiscal that ended on March 20, the head of the power plant said.
The oil market balance targeted by OPEC and allies in their production cut deal—bringing inventories down to their five-year average—could be reached in two or three months or so.
This…
Lukoil expects to sign contracts with Iran in 3-4 months to develop the country's oilfields, the head of Lukoil, Russia's oil-producing giant, Vagit Alekperov, announced.
The National…
Saudi Arabia, the world’s top oil exporter, plans to keep its crude oil shipments in May below 7 million barrels per day for the 12th consecutive month, the Saudi energy ministry said.
Iranian Oil Minister Bijan Zanganeh said on Wednesday $60 per barrel is a good price for oil, as the market should avoid volatility.
“I believe that in this situation around $60 per…
France’s oil major Total and Saudi Aramco signed on Tuesday a memorandum of understanding to build a giant petrochemical complex in Jubail, Saudi Arabia, which will see total investments of $9…
The French oil and gas giant Total, as the main contractor for the development of South Pars Phase 11, has held tenders worth $860 million since last summer, the director of Pars Oil and Gas…
With the Persian Gulf Star Refinery becoming fully operational, the feedstock allocated to the plant will nearly double.
In line with plans to complete the value-added chain in Sadaf Petrochemical Asalouyeh Company, a styrene-butadiene rubber (SBR) unit is being constructed in the company under the supervision of…
The National Iranian Tanker Company, the country’s top oil shipping company, has increased its share in international markets by 50% in the past two years, the state-owned company’s managing…
The UK government could be on its way to ratify a massive support package—dubbed a sector deal—with the North Sea oil and gas industry, Scottish Secretary of State David Mundell told local Press…
China's Sinopec, Asia's largest refiner, plans to cut Saudi crude oil imports loading in May by 40% after national oil company Saudi Aramco set higher-than-expected prices, an official from the…
Oil markets rose by more than 1% on Tuesday, extending strong gains from the previous session, on hopes a trade dispute between the United States and China may be resolved without greater damage…
To boost petrochemical output capacity, improvement and optimization of 12 petrochem plants are underway in different provinces, production manager at the National Petrochemical Company said.
