His comments come amid a shift among some Western governments and companies regarding fossil fuels, after energy prices surged over the Ukraine war After ‘years of chronic…
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Ecuador’s state oil company, Petroecuador, said on Saturday that it was losing an estimated 3,500 barrels of crude oil a day due to “vandalism” at two of…
South Azadegan oilfield is located 80 kilometers west of Ahvaz (the capital city of Iran’s southwestern Khuzestan province), near the Iraqi border.
The oil…
Russia will reportedly replace German-made hydropower-plant turbines with Iranian-made ones as Western sanctions have halted operations of Siemens in Russia since February 2022.
As…
Iranian Oil Terminals Company (IOTC) is at the forefront of the country’s economic battle, and its operations management staff, along with other departments, have shone brightly under…
President Joe Biden continues his pursuit of the generation of electricity from wind turbines and solar panels while simultaneously moving to rid the world of fossil fuels….
Saudi Arabia and other OPEC members are so far not reacting to Russia’s production cut as they stand to benefit from the move.
Russia…
Goldman Sachs still expects Brent Crude prices to hit $100 per barrel this year, but only in December compared to earlier expectations of $100 oil as soon…
European banks risk jeopardising the path to net-zero carbon emissions and the growth of renewable energy unless they…
National Iranian South Oil Company (NISOC) has signed a cooperation memorandum of understanding (MOU) with Basra Oil Company (BOC), Shana reported.
The MOU was…
The OPEC+ group currently doesn’t plan to change the course in its oil production targets after Russia announced a cut in its output for March, two delegates…
Companies accused of facilitating sales on behalf of Triliance Iran increasingly turning to firms in Asia to sell petrol
The US sanctioned three firms…
Oil may resume its rally in 2023 as Chinese demand recovers after COVID curbs were scrapped and lack of investment limits growth in supply, OPEC country officials…
Oil prices jumped more than 2% on Friday, heading for weekly gains, as Russia announced plans to reduce oil production next month after the West imposed price…
Russia will cut oil production by 500,000 barrels per day, or around 5% of output , in March, Deputy Prime Minister Alexander Novak said on Friday, after…
Russian oil producers increased output by almost 1% in the first week of February from January, despite Western embargoes on Russian fuel, Kommersant daily reported on Thursday,…
Arvandan Oil and Gas Company (AOGC) signed 6 cooperation memoranda of understanding (MOU) and 3 contracts on the 3rd day of the 13th Ahvaz Oil Industry Equipment…
The exhibition of knowledge-based equipment and oil industry items built domestically for the first time was inaugurated in the presence of the chairman of the board of…
Brent crude futures were up $1.78, or 2.2%, to $82.77 per barrel at 1042 GMT, while West Texas Intermediate US crude futures rose $1.74, or 2.4%, to…
Oil prices may rise to $100 a barrel in the second half of the year as China’s economy emerges from anti-virus lockdowns, Iran’s liaison to OPEC said.