QatarEnergy has signed an agreement to acquire stakes in two offshore exploration blocks from ExxonMobil Canada, as part of the state-owned energy giant’s broader strategy to expand…
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PetroChina (601857.SS), said on Thursday that it expects Chinese refined fuel demand to rise 3% this year from pre-COVID levels in 2019 and that of natural gas to…
OPEC+ is likely to stick to its existing deal to cut oil output at a meeting on Monday, five delegates from the producer group told Reuters, after…
Oil prices rose on Thursday as a surprise drop in U.S. crude stockpiles and a halt in exports from Iraq’s Kurdistan region offset a smaller-than-expected cut to…
The increase in export and the new record in producing crude oil despite the economic sanctions on Iran are among the achievements of the Raisi administration, an…
Heavy crude oil traditionally trades at a significant discount to lighter and sweeter grades, but the price of heavy crude is climbing.
The main…
The National Iranian Oil Company (NIOC) managing director here on Wednesday said gas production in South Pars (SP) Phase 11 will begin this year.
QatarEnergy said on Wednesday it signed a deal for stakes in two of ExxonMobil’s (XOM.N) offshore explorations in Canada as the Qatari state-owned firm builds up its global energy…
Russia’s largest oil producer Rosneft (ROSN.MM) and India’s top refiner Indian Oil Corp (IOC.NS) have signed a term agreement to substantially increase oil supplies and diversify oil grades delivered to India,…
At least three oil licenses in the semi-autonomous Kurdistan region of northern Iraq are shut in or running at reduced rates on Wednesday following a halt to…
The managing director National Iranian Drilling Company (NIDC) referred to the influential role of this company in the country’s oil and gas production process, and said one…
Ongoing tensions between Russia and the West has prompted the European Union to find alternatives to its gas imports from Russia for developing its LNG imports capacity.
The latest International Energy Agency (IEA) figures show crude oil production in sanctions-hit Iran reached 2.65 million barrels per day (mbd) in February.
Based…
In 2008, Turkey’s Ministry of Foreign Affairs unveiled the country’s national energy strategy, and for the first time in that document, it talked about Turkey is becoming…
Crude prices firmed on Tuesday, extending sharp gains from the previous session amid supply disruption risks from Iraqi Kurdistan and hopes that turmoil in banking is being…
The European Union is looking into allowing member states to prevent Russian LNG exporters from booking capacity at import facilities.
The proposal would mean…
Global oil demand in 2023 is expected to grow 2.32 mb/d compared with 2022. China and India continue to remain the main drivers in the oil market…
Zagros Petrochemical Company in Bushehr Province, southern Iran, is among the five largest methanol producers of the world, as it has an annual production capacity of 3.3…
Sanctions imposed by the enemy have failed and will fail to paralyze Iran’s largest supplier of energy and foreign currencies – the Ministry of Petroleum.
China’s oil refinery throughput this year is forecast to rise 7.8%, according to a think tank of state energy group CNPC, reversing last year’s decline as the…