A total of $10 billion will be allocated by the National Development Fund of Iran to restrain border waters, pursuant to the authorization issued by the Supreme Leader Ayatollah Seyyed Ali…
Energy
A once-popular pair trade pitting the US dollar against oil prices has re-emerged in recent weeks, injecting a new wildcard into the market just as the Organization of the Petroleum…
Mexico approved 19 companies and seven groups to bid on 14 shallow-water exploration blocks as the country prepares to allow private producers to drill in its waters for the first time since 1938…
Fighters from the Islamic State (ISIS) group have set large parts of Iraq’s largest oil refinery on fire, in an effort to thwart advances by Iraqi security forces.
A total of 67 incomplete petrochemical projects need an estimated $40 billion to come on stream, but financial constraints have necessitated new approaches such as project funds to attract…
Pursuant to the scrapping of gasoline quotas and offering fuel at a single price of 10,000 rials (30 cents) for motorists at the weekend, observers and analysts voiced their opinions, local media…
Iran's first delayed coker unit has been manufactured for Abadan Refinery, head of Downstream Pardis at the Research Institute of Petroleum Industry (RIPI) said, Shana news agency reported Tuesday…
Chinese state-owned energy giant China National Petroleum Corp (CNPC) has discovered more than 100 million tons of tight oil geological reserves in its Changqing field, Reuters reported on Tuesday…
The drop in the cost of UAE’s solar powered energy sources has reached parity with cost of fossil fuels, making it economical and commercially viable, according to the ‘REmap 2030’ report, which…
Despite the fact that China is the biggest importer of Iranian sulfur "it affects prices through dumping.
Japan’s Mitsubishi Corp and Tokyo Electric Power Co (Tepco) said on Monday they had won a contract to build a 300 billion yen ($2.5 billion) gas-fired power plant in Qatar, as Japan steps up…
First phase of North Azadegan and Yadavaran oilfields will go into operation by the end of the current Iranian calendar year (began March 21), managing director of Arvandan Oil & Gas…
The government will no longer allocate subsidized gasoline to passenger vehicles at a price of 70,000 rials, and regular gasoline will be offered at a single price of 10,000 rials (around 30 cents…
A new round of negotiations between Iran and Indonesia led to an agreement to construct 48 power plants by Iranian experts in the southeast Asian country, Mehr news agency reported.
The US recently began construction of its first offshore wind plant, a 30-megawatt (MW) farm consisting of five turbines, which is expected to start its operation in the fourth quarter of 2016.…
Alberta forest fires have prompted the shutdown of about 9 percent of Canada’s oil sands production, Bloomberg reported. Cenovus Energy Inc. closed its 130,000-barrel Foster Creek operations and…
Oil production ceiling of OPEC member states will not decline unless they forge a consensus in their next meeting on June 5 in Vienna, Mehr news agency quoted Oil Minister Bijan Namdar Zanganeh as…
Electricity and natural gas prices in Iran are approximately seven and 12.5 times lower than the global average, head of the Iran Energy Efficiency Organization, SABA, said on Saturday.
The launch of the Turkish Stream can be expected no earlier than 2017, according to the Turkish Ambassador to Russia.
"The pipeline is expected to run only after 2017," ambassador Umit…
First Vice President Es'haq Jahangiri has called on the energy ministry to hand over as many incomplete projects as possible to the private sector, in a meeting where concurrent production of…
A subsidiary of the National Iranian Oil Company has managed to obtain a bunkering license. The private enterprise whose name has not been revealed, will strive to do its fair share in increasing…
Almost 90 percent of the entire equipment and commodities utilized in Siraf refineries project will be procured by domestic manufacturers, director of the project said, Shana news agency reported…
National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, has signed a deal to buy five very large crude tankers from ship builders Hyundai Heavy Industries,…
Emirates National Oil Co (ENOC) has made a $5.6 billion offer to buy minority shareholders’ stakes in Dragon Oil, Arabian Oil & Gas reported. ENOC, which already owns 54% of the exploration…
Gas exports to Iraq, which was initially due in May, is delayed for at least a month because of technical and financial impediments, managing director of the National Iranian Gas Company (NIGC)…
