OPEC and non-OPEC oil producers, in an impromptu press briefing, reaffirmed their commitment to their production agreement Tuesday and expressed optimism there would be full compliance.
Energy
Crude oil exports from Iran reached 3 million barrels a day for the first time since the 1979 Islamic Revolution.
That level, lasting just one day, was reached in the current Iranian month…
Global oil supply may struggle to match demand after 2020, when the pinch of a two-year decline in investment in new production could leave spare capacity at a 14-year low and send prices sharply…
Iran's northern regions straddling the Caspian Sea could emerge as new hotspots for petrochemical production, Oil Minister Bijan Namdar Zanganeh said on Tuesday, signaling the government's…
Exxon Mobil Corp, the world's largest publicly traded oil producer, said on Monday it would invest $20 billion through 2022 to expand its chemical and oil refining plants on the US Gulf Coast.
Oil prices were little changed on Tuesday, trading in a tight range as rising US shale output offset OPEC crude production cuts, with investors seeking clearer direction from upcoming inventory…
UK oil and gas production will continue to grow through 2018, putting it on course for the longest expansion in almost two decades, amid project startups and productivity gains, an industry lobby…
The Philippines' state oil company, PNOC, as part of a group of international oil and gas companies known as Pergas Consortium, is planning to build a liquefied natural gas plant in Iran in…
India's oil minister says a final deal with Iran to develop the Farzad-B gas field in the Persian Gulf is currently "in Iran's course".
Qatar plans to start work on a major solar power plant in June this year and the plant, with an initial capacity of 200 megawatts, is expected to be operational by 2020. Siraj Power will start…
Fund managers and institutional investors expect oil giant Saudi Aramco to have a market capitalization of $1 trillion to $1.5 trillion when it sells shares to the public next year, a survey by…
Oil inventories onshore and offshore are responding to production cuts implemented by OPEC, the secretary-general of the organization, Mohammad Barkindo, said on Sunday.
OPEC-led production…
Russia's Tatneft signed a preliminary agreement with the National Iranian South Oil Company (NISOC) on Monday to study Shadegan Oilfield in southern Khuzestan Province.
The agreement was…
The oil market’s failure to break out of the tightest range in more than a decade is sapping investor interest.
Iran has signed an agreement with the Czech firm to construct a 20 megawatt waste-to-energy (WtE) plant in the northern Gilan Province, Houshang Falahatian, a deputy energy minister said on Monday…
Petrochemical exports can generate $20 billion annually within the next few years, taking a major leap forward compared to revenues when international sanctions were in place, an official at the…
Austrian energy group OMV has agreed to buy about a quarter in one of Russia's largest gas fields for $1.85 billion, a major expansion push that gives previous owner Uniper a badly needed cash…
The biggest names in the oil world come together this week for the largest industry gathering since the end of a two-year price war that pitted Middle East exporters against the firms that drove…
Two big Irish energy projects designed to reduce dependence on Britain are set to benefit from EU funding as the bloc steps up efforts to support the country with the most to lose when its bigger…
Abu Dhabi's government-owned power utility aims to close a financing package for a 3.2 billion dirham ($872 million) solar power plant, which will be the world's largest, in April, a senior…
Tehran is determined to take legal action against Ashgabat over a gas dispute that broke out at the end of last year, says the chief executive of National Iranian Gas Company.
Tehran may have to scrap plans for holding an international tender to develop a natural gas field in the Persian Gulf as foreign companies have shown little interest in taking on the upstream…
The National Iranian Oil Company is interested in Africa's oil market, especially South Africa, Oil Minister Bijan Namdar Zanganeh said after talks with Tina Joemat-Pettersson, South Africa's…
Phases 17 and 18 of South Pars Gas Field in the Persian Gulf will be launched officially next month, the deputy for investment at the Industrial Development & Renovation Organization of Iran (…
One in six jobs in Scotland's renewable energy sector could be lost within the next 12 months, according to an industry body. Scottish Renewables said thousands of posts could go as a result of…
