Sri Lanka is in talks with Iran to resume crude imports. Moreover, it plans to upgrade its sole oil refinery and double its capacity to boost output and to reduce the cost of importing refined…
Energy
Ukraine is interested in carrying Iran’s oil and gas to eastern European states, Oil Minister Bijan Namdar Zanganeh said, stressing that crude supplies to Ukraine can promote bilateral energy ties…
Iran’s Supreme National Security Council has given the ok for oil and gas exploration in the Caspian Sea, the chief executive director of Khazar Exploration and Production Company (KEPCO) said in…
Italian oil refiner Saras has paid €100 million ($112 million) of the debt it owes Iran for crude oil it purchased before sanctions were imposed on the country in 2012, the company's managing…
The Kuwaiti Cabinet on Monday decided to raise gasoline prices by more than 80% from September 1 as part of economic reforms aimed at countering falling oil revenues.
A statement after the…
Oil prices fell on Monday as increases in OPEC production and US oil rig additions continued to weigh on the market.
Brent crude was down 57 cents at $42.96 a barrel on Monday, after…
Saudi Aramco, the world’s largest oil exporter, lowered the pricing terms for Arab Light crude sold to Asia by the most in 10 months, signaling Saudi Arabia has no plan to back down while OPEC…
Iraq's oil exports from its southern ports rose to 3.2 million barrels per day on average in July, up from 3.175 million bpd in June, as the OPEC nation increased crude production, two Iraqi oil…
Oil Minister Bijan Namdar Zanganeh said on Monday the government would endorse the new model of contracts for Iran's oil and gas projects within the next few days in what could be a final seal of…
Iran's natural gas production will increase by 140 million cubic meters per day in the present Iranian fiscal year that ends in March, President Hassan Rouhani said on Monday.
After the feasibility studies of the proposed Iran-Oman subsea gas pipeline are finalized, the two countries will put the project to tender and select a contractor, said the director of the…
Plans are underway to implement liquefied natural gas projects worth $20 billion over the next five years with the help of foreign investment, deputy oil minister for international and commercial…
The Islamic State militant group, pushed off from more than half of the Iraqi territory it seized in 2014, has suffered a near collapse in revenue from oil smuggling, officials say, forcing it to…
Downward pressure on crude oil sent prices to their lowest level since April 6, sounding the alarm for commodities traders and countries whose economies are dependent on energy revenues. But some…
The star of Iran's Kharg Oil Terminal is rising as a growing number of international vessels set sail for the Persian Gulf port to carry crude during the second quarter of the current Iranian…
Low prices of liquefied natural gas have dissuaded Pakistan from taking meaningful measure to complete the long-delayed Iran-Pakistan 'Peace' Pipeline project, a senior gas official said in Tehran…
Iran’s return has not changed the alignment of forces on the global oil market, says the chief executive officer of SOCAR Trading SA, the marketing arm of Azerbaijan’s state oil company SOCAR,…
The National Iranian Gas Export Company has signed a contract to export natural gas to a privately-owned company in Georgia under a four-month pilot agreement, NIGEC director said on Sunday.
Implementation of the Nord Stream 2 gas pipeline project will be discussed at a meeting with Vice-President of the European Commission Maros Sefcovic, Russian Energy Minister Alexander Novak…
Exxon Mobil Corp. and Royal Dutch Shell Plc this week reported their lowest quarterly profits since 1999 and 2005, respectively. Chevron Corp.’s third straight loss marked the longest slump in 27…
OPEC's July oil output is likely to reach its highest in recent history, a Reuters survey found on Friday, as Iraq pumps more and Nigeria manages to export additional crude despite militant…
A fire at a petrochemical complex in western Iran was extinguished within hours after it broke out on Friday.
The blaze at the Bistoon Petrochemical Company in Kermanshah Province was…
Iranian oil purchase by four major buyers in Asia in June jumped 47.1% from a year ago to the highest level in more than four years, further evidence that Tehran's determination to recover market…
Iran on Friday signaled that it is willing to work with Russian companies as partners in its oil industry as it seeks a fair share of the international crude market it lost under the international…
US oil drillers this week added rigs for a fifth consecutive week, Baker Hughes Inc said on Friday, but the oilfield services provider and some analysts cast doubts on a substantial recovery in…
