World fossil fuel demand is set to peak by 2030 as more electric cars hit the road and China's economy grows more slowly and shifts towards cleaner energy, the International Energy Agency said, undercutting the rationale for any rise in investment.
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The International Energy Agency (IEA) sees the current level of oil storage in member states sufficient to take action if required to stabilise oil markets, and sees no need to increase strategic reserve requirements, an official said on Tuesday.
Oil prices were broadly stable on Tuesday following the previous session's dip after a flurry of economic data from Germany, the wider euro zone and Britain sketched a bearish picture which could weigh on oil demand.
RoydadNaft – A pilot project for extracting shale oil in Iran is in its final steps and the country can be said to have access…
Iran’s President Seyyed Ebrahim Raeisi on Monday urged the Supreme Council of Energy to devise strategies for optimizing energy consumption as soon as possible.
Over the last year, the U.S. has been ramping up its natural gas production, with plans to develop several more LNG facilities in the south of the country. But it seems like it’s not the only country to have major gas ambitions, as Canada continues to work on a massive new export facility.
RoydadNaft – China called on Monday for an “objective, fair and professional” investigation into damage to a subsea gas pipeline between Finland and Estonia, saying…
Oil prices slipped on Monday as investors continued to focus on the situation in the Middle East, where diplomatic efforts are intensifying in an attempt to contain the conflict between Israel and Hamas.
Russia's Gazprom will supply extra gas to Hungary through the coming winter and will also provide China with an additional 600 million cubic metres this year on top of contractual obligations, TASS news agency quoted its boss Alexei Miller as saying.
RoydadNaft – The volume of natural gas stored in Iran’s Shourijeh storage since the beginning of the current Iranian calendar year (March 20) has exceeded…
Khorasan Petrochemical Company (KHPC) was named the National Exemplary Exporter of Iran.
RoydadNaft – Oil prices settled lower on Friday after the Islamist group Hamas released two U.S. hostages from Gaza, leading to hopes the Israeli-Palestinian crisis…
RoydadNaft – Maroun Oil and Gas Production Company (MOGPC) is among the leading Iranian companies with the capacity to produce more than 620 tb/d of…
The share of Russian oil in India's overall imports rose to about two-fifths in the first half of fiscal 2023/24, consolidating Moscow's position as the top supplier as refiners curbed purchase from the Middle East, industry data showed.
President Joe Biden's administration hopes to buy 6 million barrels of crude oil for delivery to the Strategic Petroleum Reserve in December and January, as it continues its plan to replenish the emergency stockpile, the U.S. Department of Energy said on Thursday.
Oil prices gained more than $1 on Friday and were on track to rise for a second week on heightened fears that the Israel-Gaza crisis may spread in the Middle East and disrupt supply from one of the world's top-producing regions.
The South Pars Gas Complex (SPGC), an affiliate of the National Iranian Gas Company (NIGC), was established on October 20, 1998 to operate onshore facilities of phases of the South Pars gas field.
The CEO of Masjid Sulaiman Petrochemical Industries announced the increase in the production capacity of chemical products in this company in current October.
The head of Kharg oil terminal announced the repair of the 225-ton crane boom in this terminal.
Iran’s Oil Minister Javad Owji, in a message, condemned Israel for committing crimes in the Gaza Strip and attacking a hospital in the besieged enclave.