The surest strategy for the Organization of Petroleum Exporting Countries to prosper would be to cooperate with each other and a lack of harmonious relationship can be a recipe for disaster, Iran'…
Energy
Iran is planning to diversify gas export markets after the sanctions are lifted and will not limit supplies to its gas pipeline to Turkey, director for international affairs at the National…
The monoethylene glycol unit in Morvarid Petrochemical Company, with a production capacity of over 600,000 tons, has made 98% physical progress and is about to become operational, the company's…
US energy firms cut oil rigs for a ninth week in a row this week, increasing the pace of reductions from recent weeks, data showed on Friday, a sign low prices continued to drive drillers away…
Iran will officially notify producer group OPEC in December of its plans to raise its crude oil output by 500,000 barrels per day, the Iranian oil minister said on Saturday.
"We ask them to…
American energy company Chevron Corp. said it is cutting about 10% of its workforce amid the worst oil-market slump since the 1980s while Exxon Mobil Corp. reported a 47% loss in third-quarter…
Brent crude held close to $49 a barrel on Friday, poised to post the first weekly gain in three weeks despite a supply glut that has tested storage capacity and hammered oil company results.
Iran's electricity generation from thermal power plants has risen by 3.37% since the beginning of the current Iranian year (started March 21) compared with the corresponding period of …
Iran may roil global oil markets with plans to sell about 45 million barrels of fuel stored in tankers in the Persian Gulf within three months of the removal of sanctions on its economy, according…
The chief executive of Poland's second biggest oil refiner Lotos said the company is interested in refining Iranian oil as part of efforts to diversify away from Russian crude.
Natural gas production at phases 17 and 18 of South Pars Gas Field in the Persian Gulf will rise by 40 million cubic meters a day to help minimize Iran's gas demand in the cold season, managing…
Asian imports of Iranian oil fell nearly 6% from a year earlier in September, as Iran's biggest crude buyers held off from increasing purchases following the landmark agreement on Tehran's…
Development of West Karun oilfields in the southern Khuzestan Province is Iran's top priority to raise crude production and regain its lost ground in the global oil market in the post-sanctions…
National Iranian Drilling Company has indigenized 310 strategic drilling equipment in collaboration with domestic manufacturers and technicians during the first half of the current Iranian year (…
BG Group raised its 2015 production forecast for the second time this year on Friday, as Britain's third-biggest energy company posted a sharp but better-than-expected fall in third-quarter…
Iran’s crude exports are likely to remain restricted until the first half of next year, when it is “reasonable” to expect international sanctions against the OPEC producer to be lifted, according…
Iraq overtook Saudi Arabia as the top crude exporter to India in September for the third time in 2015, according to tanker data, as the two biggest OPEC producers battle for market share in…
Iran is ready to challenge regional neighbors in a race to claim a bigger share in Iraq’s emerging power market after the sanctions against the Islamic Republic are lifted, the head of Iran…
Iran's oil industry needs investments worth $185 billion in the sixth five-year economic development plan (2016-21), said deputy oil minister for international affairs.
Amirhossein…
Energy Minister Hamid Chitchian explored wide-ranging areas for economic and energy cooperation with Brazil in a meeting with the country's minister of development, industry and foreign trade,…
Importing gasoline from the northern part of the country has been banned, as imports have failed to meet the minimum octane ratings, the head of Iranian National Standard Organization said.
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The UAE will lower domestic prices for gasoline and diesel in November, the country's ministry of energy said on Wednesday. The price of a liter of octane 95 gasoline will drop 5% to Sh1.70 ($0.46…
Saudi Arabia is looking at raising domestic energy prices, Oil Minister Ali al-Naimi said on Tuesday, confirming that the kingdom could cut a lavish system of subsidies blamed for waste and…
The US plans to sell millions of barrels of crude oil from its Strategic Petroleum Reserve from 2018 until 2025 under a budget deal reached on Monday night by the White House and top lawmakers…
Oil giant BP reported a 96% drop in third-quarter profit on Tuesday and announced further efforts to curtail spending, as it prepares for a prolonged period of low oil prices.
