In line with plans to increase oil exports, the National Iranian South Oil Company says it is willing to increase oil output to more than 3 million barrels per day, managing director of NISOC said…
Energy
BP and Iran's state-run oil company received a license from the US Treasury last year to operate their joint gas field in the North Sea following the lifting of international sanctions on Tehran,…
Tehran will extend the list of international companies that will be eligible for bidding in its coming oil and gas tenders, a deputy at the National Iranian Oil Company said.
"The Oil…
In March Saudi Arabia shipped four cargoes of oil products to Egypt, according to Saudi Oil Minister Khalid al-Falih on Thursday. The kingdom's agreement with Egypt to reinstate a…
Oil Minister Bijan Namdar Zanganeh on Wednesday dismissed India's decision to cut oil imports from Tehran in 2017-18 by a fifth as a threat, in an escalation of a dispute over a giant gas field…
China plans to impose consumption taxes on oil byproducts such as mixed aromatics, light cycle oil and bitumen blend, tightening regulations on a fuel import market worth millions of dollars…
Oil hit a one-month high near $55 a barrel on Wednesday as a drop in US crude inventories raised hopes that OPEC-led supply restraint is clearing a glut, while an outage at a UK North Sea oilfield…
US giant ExxonMobil with Qatar Petroleum on Wednesday signed a license to explore for oil and gas off the coast of Cyprus, and they expect to start drilling next year.
The venture was…
Iran's crude oil prices settled around 25% higher in March compared to the same period the previous year, drawing support from a global pact to scale back production to prop up prices.
Completion of petrochemical projects will raise Iran’s nominal production capacity to 72 million tons a year by the end of the current fiscal that started on March 21, Marzieh Shahdaei, head of…
Exploration and production of offshore oil and gas fields demand advanced technology and substantial investment, a deputy at the National Iranian Oil Company says.
"We need to invest…
Oman is ready to back an extension of the current agreement between 24 oil producing countries to cut crude output to support prices, a senior Omani official said Monday.
BP Plc has agreed to sell the Forties pipeline, one of the most important pieces of oil infrastructure in the US North Sea, to Ineos AG for $250 million. Ineos will make a cash payment of $125…
The overseas arm of India's Oil and Natural Gas Corp has submitted a revised plan to develop the giant Farzad B gas block in Iran, including a commitment to spend more than $3 billion, a senior…
Russian oil major Rosneft hopes to benefit from European court rulings that have allowed some Iranian banks to escape from European Union sanctions.
Oil Minister Bijan Namdar Zanganeh says investors will not be convinced to invest in Iran's lucrative hydrocarbon sector unless they are confident that rules and regulations will not be the…
In line with policies to ram up oil and gas production, the National Iranian Drilling Company has completed drilling operations in 193 exploration, appraisal, repair and production oil and gas…
Oil prices steadied on Tuesday as a rebound in Libyan crude production balanced expectations of a draw in US crude oil and product inventories. Benchmark Brent crude oil was up 25 cents at $53.37…
Qatar said Monday it plans to boost production from a vast underwater natural gas field it shares with Iran by 10%, giving the energy-rich Persian Gulf nation potential new revenue as it pursues…
Improving health, safety and environment (HSE) management systems, safeguarding the environment, refinery expansion and selling oil byproducts through private companies top the National Iranian…
A total of 1.114 billion liters of gasoline, or 85.6 million liters daily, were burned during the Persian New Year holidays (March 21-April 2), said a spokesperson for the National Iranian Oil…
The Energy Ministry says it is ready to withstand a higher electricity load and avoid outages as power demand nationwide soars during the hot summer season.
Electricity demand is forecast…
Major projects in the petroleum sector will be commissioned in the near future, says Bijan Namdar Zanganeh, the oil minister.
"An estimated $20 billion worth of projects are being developed…
Libya’s crude production rebounded to about 660,000 barrels a day as the OPEC nation’s biggest oil field resumed output after about a week of disruption.
Force majeure on the Zawiya export…
Crude stockpiles are starting to decline in a sign that the production cuts implemented this year are bringing the market to balance, according to OPEC’s Secretary-General Mohammad Barkindo.
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