Investors finished covering their short positions in petroleum last week, after Saudi Arabia and its allies in OPEC⁺ surprised traders by announcing an unexpected cut in their…
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Russia’s oil production is forecast to remain stable until 2025, its Deputy Energy Minister Pavel Sorokin said, while Moscow plans reserves in order to make its supplies…
Oil prices turned lower on Monday as investors mulled over a possible May interest rate hike by the U.S. Federal Reserve, which could dampen economic recovery hopes,…
The Group of Seven (G7) coalition will keep a $60 per barrel price cap on seaborne Russian oil, a coalition official said, despite rising global crude prices…
Tehran will host the 14th edition of Iran Petrochemical Forum (IPF) at the IRIB International Conference Hall on May 1-2.
As reported, this edition…
China’s crude oil imports in March surged 22.5% from a year earlier to the highest since June 2020, data showed on Thursday, as refiners stepped up runs…
The group of Brazil, Russia, India, China and South Africa (BRICS) will for the first time attend the Iran Petrochemical Forum (IPF), announced a National Petrochemical Company…
Oil prices were steady on Monday as investors eyed Chinese economic data for signs of demand recovery in the world’s second-largest oil consumer.
Brent…
Oil producers should avoid making commitments that will pay off years from now when the market could be far weaker than at present.
Not…
The Group of Seven rich nations on Sunday set big new targets for solar power and offshore wind capacity, agreeing to speed up renewable energy development and move toward…
As many as 2,970 local people were recruited in South Pars Gas Field in southern Iran, the country’s largest gas reserve and one of the largest in…
Iran and Venezuela inked new memorandums of understanding (MoUs) and documents on the development of oil and gas fields, the overhaul of refineries and petrochemical complexes, and…
The National Iranian Oil Company (NIOC) managing director said on Saturday the first phase of the NGL 3200 project will become operational soon, describing it as a…
Europe needs to put a smaller-than-average volume of gas into storage this year after a mild winter left the region with record high inventories.
The Group of Seven rich nations have agreed to call for reducing gas consumption and increasing electricity from renewable sources while phasing out fossil-fuels faster and building…
In its latest report, the Organization of Petroleum Exporting Countries (OPEC) said Iran produced 2,567,000 barrels of oil per day (bpd) in the last month of the…
Owji has traveled to Venezuela to discuss ways to “strengthen energy relations” between the two friendly nations, according to the Latin American country’s foreign ministry.
Average daily gasoline consumption in Tehran rose five percent during the New Year holidays (Norouz) (March 21-April 2), the managing director of Tehran Oil Refining and Distribution…
Iran’s gas export rose 79 percent in terms of worth, and 10 percent in terms of amount, in 2022, the managing director of National Iranian Gas Company…
Iran’s president on Friday described the increase in oil sales and the hard currency supply as a part of his administration’s “achievements”.
Talking…