A global oil supply glut will persist through 2016 as demand growth slows from a five-year high and key OPEC members maintain near-record output, the International Energy Agency said, even as low…
Energy
Iran has boosted fuel oil exports through the UAE and also almost doubled its imports of gasoline, although western sanctions are still in place, trading sources said.
Oil prices tumbled on Monday, as traders took profits after last week’s surge to an 11-week high and on a report that OPEC continued to boost crude production despite a persistent glut.
Kuwait’s oil minister said his country still plans to produce 4 million barrels of oil a day by 2020, even as global crude prices have slumped.
Ali al-Omair made the comments Monday at an…
Russia and China are considering the possibility of entering into a joint venture for the construction of power units for nuclear power stations, or NPPs, in third countries, Russian Deputy…
Oil and trade deals worth tens of billions of dollars will be signed with foreign companies over the next two years after western sanctions are lifted, but there are few professional Iranian law…
The added value generated by South Pars Gas Complex has increased by $3 billion in the first six months of the current Iranian year (started March 21, the director of the complex announced.
Mitsubishi has expressed interest in making investment in Iran's petrochemical industry to secure a place in the emerging market.
This was announced by Mitsubishi Chemical Holdings…
Iran needs investments to develop the infrastructure for exporting its gas to Europe, said former US assistant secretary for South Caucasus, ex-ambassador to Azerbaijan and director of the…
Russia's state-run gas company Gazprom resumed supplies to Ukraine on Monday, in a development that will help the country meet its energy needs through the harsh winter months.
Gazprom CEO…
OPEC is confident that the oil market will be "more balanced" next year as non-OPEC production has contracted and global demand is increasing, the organization's secretary-general, Abdullah el-…
Environmental groups have become emboldened by their perceived triumph over Shell in the Arctic, in which they refined new tactics. What impact might this have on the future green movement in the…
OPEC's policy meeting in December will welcome Indonesia's return as a member, complicating a decision by the producer group on whether to change its oil output target.
There is a very limited capacity for dam construction in Iran, that too in small regions in the southern coasts, a deputy energy minister said.
"Water withdrawals cannot exceed 60% of a…
The import of know-how is a top priority of the Iranian gas industry in negotiations with foreign companies, said the CEO of National Iranian Gas Company.
"Prominent local companies have…
Iranian and Japanese officials discussed the prospects of raising crude exports in a meeting to mark 40 years of bilateral oil trade at the Japanese Embassy in the capital.
The National Iranian Tanker Company has held talks with three major European firms to provide insurance for the country's oil vessels, the NITC managing director said.
"Negotiations have…
Swiss chemicals company Ineos has bought all the UK North Sea gas fields owned by the DEA Group, which is owned by Russian billionaire Mikhail Fridman's investment fund LetterOne, the companies…
Iran on Saturday announced dates for a three-day oil and gas conference in London in February designed to attract foreign investors awaiting new contract terms to be unveiled next month.
A bill to repeal the 40-year-old ban on US oil exports passed the House of Representatives on Friday, but faces an uncertain future after a veto threat by President Barack Obama.
The lack of a clear leader or anchor in the global oil market is fueling uncertainty and leading to sharp swings in crude prices, but this uncertainty is unlikely to continue for long, a senior…
US oil explorers idled rigs for a sixth week, as they grapple with crude near $50 a barrel.
Rigs targeting oil in the US fell by 9 to 605, adding to the 61 sidelined in the previous…
Operators of German nuclear power plants have set aside enough funds to pay for decommissioning the country's reactors, the Economy Ministry said on Saturday, even though stress tests showed the…
Daily gas output from regions under the jurisdiction of South Zagros Oil and Gas Production Company has increased since early this year, and is projected to touch 221 million cubic meters in the…
Energy security is one of the pillars of economic growth, social welfare and national security, which Iran cannot ensure by solely relying on depleting energy sources.
The depletion of Iran…
