As a large petrochemical supplier, Iran can definitely enjoy a higher bargaining power in global markets provided it manages to reduce its production costs, a petrochemical expert said.
Energy
Iran's power production capacity will rise by 1,250 MW by summer 2016 upon the launch of several power generation projects, deputy energy minister told a news conference on Saturday.
Italian oil and gas company Eni has expressed willingness to develop the third phase of Darkhovein Oilfield in south Iran, a deputy oil minister said on Saturday.
"Although Eni has shown…
OPEC Secretary-General Abdullah al-Badri said despite uncertainties, OPEC members are ready to make investments to respond to the world's future energy needs.
Oil markets will continue to be oversupplied for as long as five years as producers in the Middle East ramp up output, according to Mohammed al-Shatti, Kuwait’s representative to the Organization…
US crude explorers pulled back drilling rigs for a 10th straight week, as conviction grows that the worst oil downturn in decades is nearing its bottom. Rigs targeting oil in the US fell by 6 to…
Khazar Exploration and Production Company has started a new round of talks with Brazilian energy corporation Petrobras to carry out deepwater exploration and drilling projects in the Caspian Sea,…
Iran's liquefied natural gas will be transferred by domestic LNG vessels, the builder of the first Iranian LNG carrier said on Saturday.
"A memorandum of understanding has been concluded…
Iranian crude settled below $50 a barrel for the third straight week in the week ending Oct. 30.
Iran's light crude was down 92 cents at $44.02, averaging $52.72 since March. Heavy crude…
Iran seems to have held no aces in its new oil contract, officially known as Iran Petroleum Contract or IPC, compared to that of Iraq, chairman of Energy Commission at Iran's Chamber of…
An oil official called for investment in several oil storage facilities with a total of 10-million-barrel capacity to build an oil terminal in the southern port city of Jask in Hormozgan Province…
Egypt anticipates a ramp-up in oil volumes through the SUMED pipeline once Iran reenters the world market—a move that is welcomed by Cairo, the country's oil minister, Tarek El Molla, said on…
US shale oil producers, having slashed fat from 2015 budgets after a 50% drop in crude prices, risk cutting to the bone next year as they cut spending further and get ready for a prolonged…
A five-day strike cut oil production at Brazil's state-run oil company Petroleo Brasileiro SA by 100,000 barrels on Thursday, as contingency plans continued to reduce losses from the stoppage, a…
Increasing strain on ties between the member states of the Organization of Petroleum Exporting Countries is beginning to show, following suggestions by Iran and Algeria in an…
India's oil imports from Iran fell 41.5% in October from a year ago to the lowest in seven months, according to tanker arrival data obtained by Reuters, as state-run refiner MRPL cut imports due…
Turkey is willing to transit Iranian gas to European markets, Turkey's interim minister of energy and natural resources said, as the Persian Gulf country is planning to expand its gas export…
Iran could sign five major deals with foreign contractors to develop its oil and gas fields in the post-sanctions period before President Hassan Rouhani's first term in office comes to an end by…
The long-awaited Persian Gulf Star Refinery, with an overall capacity of 360,000 barrels of gas condensates, will be inaugurated ahead of schedule, the refinery's manager said on Thursday.
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The National Iranian Gas Company is committed to delivering 700 million cubic meters of gas per day to all sectors, especially households, in winter, NIGC managing director said late Wednesday in…
Oil prices held above $50 a barrel on Wednesday following a 3% jump a day earlier on the back of Brazilian and Libyan supply worries, a US pipeline outage and a general rally in riskier assets on…
Kazakhstan was a poster child of the past decade’s oil boom, building a futuristic capital on the steppe with its hydrocarbon riches, but this year’s tumble in prices has pushed many of Kazakhstan…
The German Cabinet on Wednesday approved a plan to pay utilities to set aside some of their coal-fired power capacity, as Europe's biggest economy looks to ensure stable supply and reduce carbon…
The government is keen to attract foreign investment to develop the energy sector on the heels of sanctions removal, with a Turkish company willing to fund electricity projects in the Persian Gulf…
Energy Minister Hamid Chitchian said the simultaneous development of national electricity and gas networks has come at a huge price for Iran.
