Statoil ASA lowered development costs for the start-up at its giant Johan Sverdrup oilfield by $2.9 billion and raised the estimated initial output by 16% after intensifying drilling and…
Energy
The planned sale of 49% in India’s Essar Oil to Russian giant Rosneft may have run afoul of the US, which has Rosneft on the list of sanctions it had imposed over Russia’s annexation of Crimea,…
China Petroleum & Chemical Corp., the world’s biggest oil refiner, posted a 22% decline in profit for the first half of the year as oil’s collapse overpowered the boost from cheaper crude used…
The share of the Organization of Petroleum Exporting Countries in the oil market is at a suitable level, the UAE’s Energy Minister Suhail bin Mohammed Al-Mazroui said as the producer group…
Venezuela and Iran continue to seek consensus on ways to stabilize oil markets and strengthen OPEC, Venezuelan President Nicolas Maduro said on Saturday after meeting with Iran's Foreign Minister…
Iran and Russia have signed a contract worth $1 billion to build five offshore drilling rigs for exploration and production in Iran's oil and gas fields in the Persian Gulf.
The contract…
An official at the National Iranian Oil Company says the new oil contracts will include provisions that ensure they will remain effective against any political disruptions in the future.
Marzieh Shahdaei, managing director of National Petrochemical Company confirmed on Sunday that two unnamed petrochemical complexes were recently attacked by malicious software.
Shahdaei…
The Iraqi government would consider selling crude through Iran, should talks with the autonomous Kurdish region on an oil revenue-sharing agreement fail, a senior oil ministry official in Baghdad…
A new report by the US Energy Information Administration estimates that members of the Organization of Petroleum Exporting Countries earned $404 billion in net oil export revenue in 2015—the…
Saudi Arabian Oil Company, also known as Saudi Aramco, will be listed in early 2018, the kingdom’s energy minister said in Los Angeles on Thursday.
Oil Minister Bijan Namdar Zanganeh has expressed optimism that Kaveh Petrochemical Complex in the Persian Gulf port city of Bandar Dayyer, Bushehr Province, would go on stream in February 2017.
Pars Oil and Gas Company has signed a contract with an unnamed French enterprise for implementing a research initiative to devise effective strategies to prevent natural gas pressure reduction in…
Iran is confident on closing two or three oil and gas deals with foreign companies under a new model of contracts in the current Iranian year that ends on March 20, 2017, the deputy for…
The launch of the second unit of Iran's Bushehr Nuclear Power Plant is scheduled for October 2024, the data published by Russia's Rosatom state nuclear agency said on Friday.
The slow rebound in the US oilfields has ground to a halt after eight weeks of adding drilling rigs. The number of rigs actively drilling for oil stayed flat from last week, while the number …
Multibillion-dollar oil and gas deals are back on the table.
Saudi Arabia’s energy minister said an oil-output freeze would be "positive" if it happens, while ruling out a cut in production.
"We will be willing to listen to our colleagues, what they…
A new scandal has come to light in Iran's oil industry following the controversy over the infamous "missing oil rig" case that took the media by storm last year.
Iran’s Oil Minister Bijan Namdar Zanganeh announced on Friday that the country is ready to cooperate with members of the Organization of Petroleum Exporting Countries in capping oil prices.
…
Iran is taking steps to boost oil and gas production this year by bringing on stream a number of key projects while developing its petrochemical infrastructures, Oil Minister Bijan Namdar Zanganeh…
Essar Oil, the top Indian buyer of Iranian crude, imported about 43.2% more oil from Iran in July compared with a year ago, according to tanker arrival data obtained from trade sources and ship-…
Oil prices fell on Wednesday due to an unexpected increase in US crude stocks that revived worries about the supply glut that has capped prices for the past two years.
Iraq's Prime Minister Haider al-Abadi said the country has not yet reached its full oil market share, suggesting his government would not restrain crude output as part of any possible OPEC…
The Iranian Parliament on Wednesday eliminated a clause in the budget law for 2016-17, which can help phase out the electronic fuel card system nearly a decade after its introduction.
