OPEC has been the most talked about oil and gas organization in recent times, as it pursues market share and struggles to stem the slide in prices.
Back in June 2015, it was reported that…
Energy
The construction of a terminal for receiving, warehousing and delivery of petroleum products with a capacity of 540,000 tons is underway at Ymamnazar checkpoint of Atamyrat district of Lebap…
Crude oil prices are at record lows due to a supply glut and weak demand—owed partly to slower growth prospects for China and Europe.
The global economy's footing is shaky at best, and with…
The Iranian Offshore Oil Company can raise crude production by 60,000 barrels per day within two months of lifting the sanctions, IOOC production manager, Mohammad Baqer Soleimani, said, calling…
The Energy Ministry is studying plans to supply water from the Persian Gulf to three eastern Iranian provinces, which will help address the nationwide drought and water shortage that have…
Petrochemical exports made up slightly more than one-third of Iran's total non-oil exports, or 33.8%, in March-August, up from 29% in the same period last year, secretary-general of the…
The Russian Energy Ministry does not rule out the decline in oil output if prices go down, First Deputy Energy Minister Alexei Texler said on Friday. "It would be possible, if the (oil) price…
While Saudi Arabia is busy pursuing a covert alliance with Israel, the “oil war” it has started with other producers, including the US, is already impacting the kingdom and the rest of the world…
US Democratic presidential candidate Hillary Clinton said on Friday she would support lifting the 40-year-old US ban on crude exports, only if the measure included concessions from the oil and gas…
Agreements have been reached with two European firms on developing Esfandiar and Doroud fields, two major oil and gas fields in the Persian Gulf, managing director of the Iranian Offshore Oil…
The National Iranian Oil Company is looking for investors to develop its second largest natural gas field, as its first phase of development nears completion, ending the decade-long delay in the…
Deputy Oil Minister Amir-Hossein Zamaninia said Britain is ready to pay Iran's blocked revenues from gas sales at the Rhum gas field in the North Sea after the lifting of sanctions.
Oil major BP intends to continue as operator of a key Caspian oilfield complex after the current production-sharing deal expires, according to Azerbaijan’s state oil company.
Iran’s electricity production grew 2.4% since the start of the Iranian year on March 21, compared to the same period of last year.
Kuwait plans to start an offshore oil exploration program within two years as part of its plans to boost oil production capacity, a Kuwait Oil Company executive said.
BP is to suspend operations at one of its platforms in the Caspian Sea for planned maintenance, a spokeswoman for BP Azerbaijan said on Thursday.
"Chirag oil platform will be suspended this…
OPEC is assuming the oil price will rise gradually to $80 a barrel in 2020 as supply growth outside the group weakens, a slower recovery than several member nations have said they need.
Saudi Arabia and Bahrain have signed contracts worth around $300 million to lay a new 350,000-barrel per day oil pipeline between the two countries, with the link due to be operational in 2018,…
Russia's second largest oil producer is ready to resume Iranian oil projects, a top Oil Ministry official said Thursday.
Iran will lift the curtain on the framework of its long-awaited multibillion-dollar oil contracts in a seminar in the capital Tehran in November before a full-fledged unveiling later in London,…
South African oil companies will meet Iranian officials in October to discuss the resumption of crude imports, the deputy energy minister said on Thursday.
Australia's competition watchdog flagged concerns on Thursday that Royal Dutch Shell's proposed $70 billion takeover of BG Group may lessen gas supply competition in eastern Australia…
Iraq's Finance Ministry has proposed a 2016 government budget worth $99.65 billion (113.5 trillion Iraqi dinars) with a budget deficit of $25.81 billion, according to a draft posted online on…
Iran has unveiled details for long-awaited foreign cooperation contracts which it hopes will attract oil buyers and investors to modernize its ageing infrastructure, including offers to take…
The government has been mulling plans to raise water and electricity tariffs, and also cut supplies of the same to high consumers. However, these plans have sparked criticism from analysts and…
