Nearly three dozen companies were vying for drilling rights in the Gulf of Mexico on Wednesday in a government auction of offshore oil and gas leases that could be tempered by falling crude prices…
Energy
Japan is to decommission three nuclear reactors, which have outlived the government’s recommended 40-year service life. It will also be the first time a reactor is permanently shut down since the…
Close to 1.5 billion barrels of oil has been extracted so far from Masjed Soleyman oilfield in Khuzestan Province, managing director of Masjed Soleyman Oil and Gas Production Company (MSOGPC) said…
Plans are underway to transform Sarakhs Special Economic Zone (SEZ) into a petrochemical hub. The issue was discussed in a meeting between Abbas Shari-Moghadam, managing director of the National…
Iran has obtained the technology to simultaneously generate electricity and heat, science and technology deputy to the president said Wednesday in a ceremony for inaugurating a building for '…
The energy bourse registered 212 percent growth in the current Iranian calendar year (ends March 20) compared to the same period last year, ISNA reported.
Approximately 830 million cubic meters (mcm) of gas was pumped from Sarajeh storage facility into the national gas network over the past 4 months, managing director of the National Iranian Gas…
Iraqi tanker trucks will be banned to enter Iran roads until March 27 (first week of the Iranian new year holiday), Oil and Interior ministries announced on Wednesday, as part of measures to ease…
President Hassan Rouhani on Tuesday officially inaugurated Phase 12 of South Pars oil and gas field in the Persian Gulf.
Touted as the biggest Iranian gas project in history, Phase 12 has…
Egypt state company EGAS has signed a deal to import 35 cargoes of liquefied natural gas (LNG) from Russia's Gazprom over five years, the oil ministry said. Under terms of the agreement, Gazprom…
Close to 7,000 tons of liquefied petroleum gas (LPG) was exported by Khuezstan Petroleum Products Distribution Company in the past three months, IRNA quoted Ali Hekmat, the company's managing as…
Oil revenues constituted approximately 50 percent of the funds in the national budget for the past three years, but reliance on such earnings has fortunately decreased to 25 percent in the budget…
Power generation needs to increase by another 5,000 megawatts annually to meet the demand of 1.5 million consumers who join the national grid every year, the Iran Power Generation and Transmission…
PetroChina Vice Chairman Liao Yongyuan resigned on Tuesday after the state oil giant said he was being investigated by the country’s anti-graft watchdog for “serious disciplinary violations”. In a…
Gas supply from Hungary to Ukraine increased tenfold to a record 7.4 million cubic meters (mcm) per day on Monday, up sharply from 720,000 cubic meters per day on March 7-12, the Ukrainian gas…
Any decision to build a pipeline to transport Russian gas through Turkey should be made in consultation with the European Union and should not breach pre-existing legal commitments, the…
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…
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 (…
