Current crude prices at about $68 a barrel are unsustainable and will rise to $80 by the end of next year as US supply slows, deputy oil minister said.
“From a commercial point of view, we…
Energy
Russian energy giant Gazprom announced Thursday that its new gas pipeline project Turkish Stream, supplying Russian gas to Turkey, will start operating in December next year.
The director of international affairs of the Iranian National Oil Co. (NIOC), Seyed Mohsen Ghamsari, who was talking on the sidelines of the 20th International Oil, Gas, Refining and…
Kazakhstan is assessing plans to build an oil refinery in cooperation with Iran and China, deputy governor of the country's Mangystau Region said in a meeting with Valiollah Afkhami-Rad, head of…
Gazprom representative, Sergie Lasvetenko, expressed his company’s readiness to cooperate in South Pars development plans. Speaking at the 20th International Oil, Gas, Refining and Petrochemicals…
Iran's oil production should at least reach its pre-sanctions level of four million barrels per day, oil minister Bijan Namdar Zanganeh said at the Munich Energy Security Conference in Berlin.
Physical progress of oil exploration projects in Iran has reached 90 percent during the first four years of the Fifth Five-Year Economic Development Plan (2011-2016), said exploration director of…
Four oil storage facilities, each with a capacity of one million barrels, were inaugurated in Kharg oil terminal. The new storage facilities have increased Iran's oil export capacity by 16…
More than $10 billion will be invested in Iran's gas sector in the current Iranian calendar year (began March 21), managing director of the National Iranian Gas Company (NIGC) said. Gas production…
The International Energy Agency on Wednesday cut its supply forecast for non-OPEC countries, citing downturns in North America and the "worsening conflict" in Yemen.
Iran may join the Trans Anatolian Pipeline (TANAP), which will carry Azeri gas to European markets, the country's ambassador to Azerbaijan said on Wednesday referring to the project, which is seen…
The biggest obstacle to Royal Dutch Shell Plc’s $70 billion offer for BG Group Plc probably lies in China.
Shell Chief Executive Officer Ben Van Beurden visits the country this week to…
Crude prices need to recover for Brazil to advance plans to open its most sought-after fields to investors, the country’s oil regulator said.
National Iranian Oil Company (NIOC) debts currently amount to $50 billion, while its revenues have seen a five-fold decrease, the company's managing director told Shana news agency.
Oil Minister Bijan Namar Zanganeh and his deputy for international affairs Amir Hussein Zamaninia will travel to Germany today to attend the Munich Energy Security Conference. This year’s…
Oil prices rose more than $1 to fresh 2015 highs on Wednesday. Oil bulls have pushed prices higher this week, after a rally of 20 per cent for Brent and 25 per cent for US crude prices in April,…
Azerbaijan’s SOCAR shipped 423,890 tons of oil via Russia in the first four months of 2015, up from 338,812 tons in the same period last year, Reuters reported. SOCAR had planned to halt oil…
The 20th International Iran Oil, Gas, Refining and Petrochemical Exhibition is an opportunity to attract significant investments in the Iran Fara Bourse (IFB) market, given that close to 43…
Oil exports from the (Persian) Gulf Cooperation Council are expected to decline by $287 billion in 2015, in light of the current oil prices, the International Monetary Fund (IMF) said Tuesday,…
With speculation rife over how long Saudi Arabia is content to see oil prices slump, the country's oil minister told CNBC that only Allah knows where prices are heading.
Pakistani Prime Minister Nawaz Sharif on Tuesday inaugurated the country's first solar power plant, the latest fruit of increasingly close cooperation with China and a step towards an electoral…
The assessments being conducted by the ministry of economic affairs and finance on potential supply of crude oil at the energy bourse is in the final stage, investment director at the…
There are currently 140 dams near completion and 119 are under construction amid concerns over insufficient supply due to water shortage across the country, energy minister Hamid Chitchian said at…
Iran is ready to export oil via ship-to-ship (STS) method for the first time from its major Kharg Oil Terminal, Parviz Bayat, head of research division at Oil Terminals Company (IOTC) said,…
The 20th International Iran Oil, Gas, Refining and Petrochemical Exhibition starts in the Tehran Permanent Fairground today and will run until May 9. The inauguration ceremony is to be attended by…
