Vitol Group, the world’s biggest independent oil trader, said the cost of finding and pumping crude will prevent prices from dropping much lower than where they are now for prolonged periods,…
Energy
European Union regulators are likely to set out anti-monopoly charges against Russia’s energy giant Gazprom, according to reports. State-controlled Gazprom, a major gas supplier to Europe, is…
The world's first floating liquefied natural gas (LNG) project, built by Petronas, is expected to supply its first cargoes in the first quarter of 2016, senior officials from the Malaysian state-…
Norway's Statoil has teamed up with Eni, Lundin Petroleum, OMV and GDF Suez to coordinate exploration activities in the Norwegian Arctic to reduce costs, it said on Tuesday.
The three-year…
A new round of negotiations was initiated between power distributing companies and Japan International Cooperation Agency (JICA), whereby the latter will provide assistance as regards…
The oil ministry has rejected an oil drilling project in West Karun region on account of potential environmental consequences of the operations on Hoor-al-Azim wetland, Oil Minister Bijan Namdar…
The present oil prices are against the interests of oil producing countries and the stability of global oil market, President Hassan Rouhani said after a meeting held with Venezuelan Oil Minister…
Norway launched its 2015 oil and gas licensing round in mature areas on Tuesday, expanding it to include blocks near recent discoveries. New blocks included in the round are near Statoil's Aasta…
Investments should be made to revamp dilapidated water supply networks in urban areas from the National Development Fund of Iran (NDFI), the Majlis Speaker Ali Larijani said on Monday, calling for…
The 19th Arab Oil and Gas Show starts in Dubai, UAE today with trade buyers and technical specialists from the Arab world, Iran, North Africa, and the Middle East as well as the Indian sub-…
Kuwait, which plans to boost oil output capacity by a third by 2020, has discovered four new oilfields in the north and west of the country, a top oil official was quoted as saying by state news…
Oil prices fell to under $63 a barrel on Monday after Saudi Arabian Oil Minister Ali al-Naimi said production in the world's biggest crude exporter would stay near record peaks around 10 million…
Iran is ready to resume petroleum products swap with Turkmenistan and transit the northeastern neighbor's gas through its gas grid, Mohammad Mousa Hashemi, the Iranian ambassador to Turkmenistan…
The National Iranian Tanker Company (NITC) will start bunkering oil tankers and trading vessels in the Persian Gulf and Gulf of Oman in the near future, Ali Akbar Safaei, the NITC managing…
The Iranian and Venezuelan joint venture company, Veniran, will stop operating in domestic petrochemical projects due to a lack of funding by the Venezuelan side, managing director of the Persian…
Gas exports to neighboring countries are a priority and Iran now has no plans to export gas to members of the European Union, member of the parliament's energy committee said, Icana reported…
Iran could become a major importer of natural gas in the near future if the excessive and unacceptably high gas consumption is not curbed drastically, managing director of the Iranian Fuel…
Essar Oil, Iran's key Indian client, imported 6.3 percent less oil from Tehran in 2014/15 as it reduced shipments in the first quarter of this year, according to tanker arrival data obtained from…
Instead of buying natural gas from Iran and converting it into urea, India is now planning to construct petrochemical complexes in Iran, but disagreements have emerged during negotiations on terms…
Annual investments in the oil industry should reach $50 billion according to the Fifth Five-Year Economic Development Plan (2011-2016), however, only $68.7 billion was invested in oil projects…
The overhaul of Imam Khomeini Oil Refinery in Arak Province will be completed in May, Saeed Mahjoubi, the refinery's production supervisor said, Shana news agency reported. The complex is one of…
Saudi Basic Industries Corp. (SABIC), one of the world's largest petrochemicals groups, reported a 39% drop in first-quarter net income on Sunday, Reuters reported. SABIC made a net profit of 3.93…
Around 800,000 households in urban and rural regions are slated to join the national gas network by the end of the current Iranian year (March 2016), managing director of the National Iranian Gas…
The European Union seeks future gas imports from Iran to end dependence on Russian natural gas as prospects for a nuclear deal that would lift Iran sanctions raise new hopes among EU states. “It’s…
India is keen to invest in petrochemical projects off the Gulf of Oman, due to advantages of the region such as lower transport costs, among other things, deputy managing director of the National…
