Indian refiner Essar Oil's annual oil import from Iran plunged to its lowest level in eight months, registering a decline of about 74% from October, according to tanker arrival data obtained from…
Energy
The US Congress voted on Friday to repeal the 40-year ban on exporting crude oil in a U-turn in energy policy sought by Republicans as part of a bipartisan deal that also provided unprecedented…
The total value of output from South Pars phases 15 and 16 since 2013 amounts to $4.5 billion, the head of phases 15 and 16 development consortium said on Saturday.
Investment in Iran’s petrochemical industry will have a reasonable return, a high-ranking official of the China National Petroleum Corporation said on Saturday.
The official also told…
Russian President Vladimir Putin said on Thursday the $50 per barrel price for oil factored in the 2016 budget was too optimistic and the government needed to make adjustments.
Statoil has submitted a plan to the Norwegian government to develop and operate a $940-million project designed to squeeze more oil and gas out of the Oseberg area of the North Sea.
The port city of Asalouyeh in the southern Bushehr Province houses the world’s biggest olefin and aromatic production plants, and is also the largest petrochemical export hub in the Middle East.…
The National Iranian Drilling Company started its exploratory drilling in Golestan Province for discovering hydrocarbon reserves, Khazar Exploration and Production Company's director for…
Iran has stopped gasoline imports from Turkmenistan, the managing director of National Iranian Oil Refining and Distribution Company said.
"Due to the low quality of Turkmenistan's gasoline…
Iran's electricity exports will be doubled from the current 10 billion kilowatt-hours to 20-25 billion kWh per year by 2020, managing director of Iran Power Generation, Distribution and…
Consultations with Algerian officials can help stop oil prices from declining further, First Vice President Es'haq Jahangiri said.
Before leaving Tehran for Algiers on a two-day…
Eduardo Neto, Roland Berger's chief of Middle East centers, said Iran will make remarkable progress in petrochemical industry compared to its regional neighbors, provided it cooperates with global…
The global oil market could return to a balance between supply and demand by the end of next year, as long as producers do not raise output from current levels, Russian Energy Minister Alexander…
Oil fell on Wednesday on fresh evidence of growing global oversupply and as investors awaited the outcome of a US Federal Reserve meeting where interest rates are likely to be raised, boosting the…
Iran is among the safest Middle East states for investors to finance oil and gas projects, a deputy oil minister said on Wednesday.
Representatives of some of the world's biggest engineering, construction, petrochemical and shipping companies had a firsthand glimpse of Iran's petrochemical facilities and infrastructure during…
Iran’s gas condensate export has experienced a 50% increase in the current Iranian year (started March 21), a deputy oil minister said on Tuesday.
“Currently, production capacity of gas…
Afghan President Mohammad Ashraf Ghani said the pipeline project to pump natural gas from Turkmenistan to India via Afghanistan and Pakistan (TAPI) is not against the interests of neighboring gas-…
The collapse of oil prices has claimed its first bankruptcy victim in Norway’s offshore industry, and analysts warn more may follow.
Global crude oil prices, which are at seven-year lows, will not continue and could swing upward in as little as a year, OPEC Secretary-General Abdullah al-Badri said on Tuesday, as the low-price…
A group of executives from major global petrochemical companies toured the gas and petrochemical facilities of Asalouyeh in Bushehr Province on Tuesday.
A private sector producer has signed the first electricity contract, managing director of Iran Power Generation, Distribution and Transmission Company (Tavanir) said on Tuesday.
"The…
The Italian Saipem, a subsidiary of the energy company Eni, is willing to cooperate with Iran on constructing MTBE units in petrochemical industry, Saipem’s deputy for technology said on Monday.…
Oil prices fell for a seventh straight session on Monday, coming close to 11-year lows, on growing fears that the global oil glut would worsen in the months to come in a pricing war between…
Iran's oil exports are set to hit a six-month high in December, as buyers ramp up purchases in expectation that sanctions against the country will be lifted early next year.
Iran is on…
