Brent crude oil fell to around $53 a barrel on Monday, its lowest for more than a month, on rising global inventories and signs of a possible nuclear deal with Tehran that could allow more…
Energy
Royal Dutch Shell is pulling back from its shale projects in South Africa due to lower energy prices although it is still seeking an exploration license for the onshore Karoo Basin, its country…
Five years after it first came to light, the trial began Sunday for one of Algeria’s most notorious corruption scandals involving the state-run oil company that generates most of the country’s…
Egypt’s state oil company signed an agreement to join Kuwait Energy in developing an oil field in southern Iraq, the company’s first foray into upstream work outside of Egypt, the…
Gas will be supplied to 1,300 villages in Khorasan Razavi Province with funding available through Note 2(G) of the budget of the outgoing year. A total of 9,000 billion rials ($268.6 million) has…
A preliminary agreement on construction of power plants in Azerbaijan was reached between Iran and the Republic of Azerbaijan, Iran's ambassador to Baku, Mohsen Pakaieen, said Monday. It calls for…
The private sector is investing $3 billion to build the Parsian Petrochemical Complex in the Parsian Energy Intensive Industrial Zone in Fars Province. The complex will have eight production units…
The Majlis on Monday passed a bill which allows the oil and energy ministries to invest up to $100 billion in foreign exchange and 500,000 billion rials a year to reduce costs and increase…
South Korea's imports of Iranian crude oil dropped 50 percent in February from a year earlier. Seoul imported 557,000 tons of crude oil from Tehran last month, or nearly 146,000 barrels per day (…
The profit from investments in energy conservation projects would be three times higher than that of oil investments, Nosratollah Seifi, managing director of Iran's Fuel Conservation Organization…
Gas supply to Turkey will become more sustainable when a third compressor at Tabriz Gas Transmission Operation District 8 facilities goes operational by the end of the present Iranian calendar…
Khuzestan Province Water and Electricity Company has signed a cooperation agreement with the United Nations Industrial Development Organization (UNIDO), IRNA reported Sunday.
Close to 35 million Iranians are at risk from the worsening air pollution, head of the Department of Environment (DoE) warned on the sidelines of a ceremony for scrapping old cars on Saturday. She…
Phase 12 of the South Pars oil and gas field in the Persian Gulf will be officially inaugurated Tuesday by President Hassan Rouhani.
The Iranian Central Oil Fields Company (ICOFC) expects its oil and gas production to increase by 75 million barrels and 95 billion cubic meters, respectively, in the next Iranian year (starts…
Oil prices have started to stabilize around $60 a barrel in past weeks and will continue to firm up, while crude demand will grow stronger, an adviser to Saudi Arabia's oil minister said on Sunday…
Export of electricity by the government is a mistake, head of the energy commission of the Iran Chamber of Commerce, Industries and Mines said in a statement Sunday.
"Whether by the energy…
Economic sanctions against Iran are indeed comprehensive given the scale and scope of sanctionable activities and the sectors targeted, plus the number of governments and multinationals…
Global oil prices tumbled on Friday and fell 9 percent on the week, hit by a renewed rally in the dollar and a warning by the International Energy Agency (IEA) that the oil glut is growing.
President Hassan Rouhani on Saturday inaugurated the 5th and 6th units of the South Tehran Water and Wastewater Treatment Complex.
Pursuant to recent surveys and explorations, 17 oil blocks have been designated as a priority in the overall exploration blocks, Rahim Nematollahi, head of the exploration blocks and foreign…
Scrapping more than 311,000 dilapidated vehicles has reduced fuel consumption by 400 million liters in the present Iranian calendar year (March 2014-2015), managing director of Transportation and…
Swap of petroleum products with the northern neighbors will end in the next Iranian calendar year (begins March 21), Mehr news agency reported Saturday.
State-owned Russian oil company Rosneft canceled a $1 billion lease contract with North Atlantic Drilling Ltd, RIA Novosti reported.
British oil company BP finalized on Saturday a $12 billion deal with Egypt to develop 141 million cubic meters (mcm) of gas resources and 55 million barrels of condensates in the West Nile Delta…
