Global oil demand is set to surge in the short run as refining capacity hits a record, yet the gains may not hold as a flood of fuel gluts the market, eroding profit margins and eventually forcing…
Energy
The UK oil and gas industry will ax 120,000 jobs by the end of the year, following the collapse in oil prices, according to a lobby group.
This year, 330,000 jobs will be supported by…
A Nigerian security official confirmed there had been an attack on Friday on a pipeline operated by Italy's Eni in the Niger Delta region.
"There was an attack on the Obi Obi Brass Pipeline…
Iran-Pakistan Gas Pipeline will be constructed by 2018, Pakistan's Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said in a media briefing, the country's Daily Times news…
InterOil Corporation, an independent oil and gas firm based in Papua New Guinea, has signed a memorandum of understanding with Pars Special Economic Energy Zone and Petropars Ltd. to develop a…
Iran plans to claim an equal share of gas production as Qatar’s from the shared gas field by the end of the current Iranian year (ending March 20, 2017).
The National Iranian Oil Company and Royal Dutch Shell have not signed a long-term contract, yet the British enterprise will receive a single oil cargo under a spot contract in July.
South Korea, Asia's largest buyer of condensate, will step up purchases of the ultra light oil from Iran by more than 50% in June, two sources said, as competitive pricing squeezes out rival oil…
US crude jumped to the highest level in more than 10 months on Wednesday, rising for the third consecutive session, buoyed by ongoing supply disruptions in Nigeria and strong Chinese oil demand…
Iran said on Wednesday it has stopped the export of liquefied petroleum gas to Japan, but there were other customers available to buy the Islamic Republic's LPG.
Russian majority state-owned oil giant Rosneft posted a staggering 75% drop in first-quarter net profit, raising questions over how much money the Russian government will be able to…
Growth in natural gas demand will slow to an average 1.5% a year globally through 2021, as stagnation in Europe and uncertainty about Chinese consumption offset robust growth in India, the…
Siemens, Germany's largest engineering company, is reportedly close to signing an agreement to finance the construction of Jalal Power Plant in Tehran Province.
Iran will seek international investors for a $3 billion refinery project in the country’s south, as the West Asian country looks to boost sales of its oil and natural gas products in Asia.
An Iranian deputy oil minister said Total S.A. has six months to give its development proposal for South Azadegan Oilfield, a giant field shared between Iran and Iraq in the Persian Gulf.
Plans have been made to launch South Pars phases 17 and 18 in the second half of the current Iranian year (started March 21).
Royal Dutch Shell will exit oil and gas operations in up to 10 countries in a drive to deepen cost cuts as it weathers weak oil prices and has to pay down debt following its $54 billion…
Saudi Arabia is ramping up its oil war, with a new discount for crude in the European market. The move targets Iran, but may also affect Russia.
An output freeze is not on the agenda…
The US is beginning to step up its oil exporting game.
The 40-year ban on exporting US crude was lifted last December. Since then, there has been a sevenfold increase in America's oil…
Iran is planning to diversify its petroleum offerings by blending and producing different types of oil, the head of Iranian Oil Terminals Company said on Tuesday.
About 82% of the world’s oil and gas companies have been the target of cyber attacks over the past 12 months, an advisor on cyber affairs at the Passive Defense Organization of Iran said.
Iran and Indonesia have explored grounds for energy cooperation, especially in the development of renewables.
The twofold surge in Iran's oil export indicates that oil sanctions have become a thing of the past, the government's spokesperson said.
Iran is planning to raise the share of petrochemical products in annual non-oil exports to 35%, the head of the Association of Petrochemical Industry Corporation said on Tuesday.
"The…
Ukraine's Naftogaz has requested gas supplies from Gazprom for the second half of 2016 and first quarter of 2017, Alexei Miller, chief executive of the Russian gas exporter, said on Tuesday.
