Saudi Arabia’s crude oil exports dipped to a 22-month low of 6.67 million bpd in September when the kingdom’s oil infrastructure was attacked that knocked off 5% of global daily supply for weeks.
According to data released on Tuesday by the Joint Organizations Data Initiative (JODI) database,...
Several power and water projects were launched in the northern Semnan Province Monday. A 400 kV substation and 10 km of transmission line were inaugurated in Eyvanki District of Garmsar County, the Energy Ministry news portal Paven reported.
Costing $7 million, the substation will contribute to...
Oil prices were little changed on Monday following steady gains in the previous week with investors awaiting fresh clues over prospects for a trade deal between the United States and China, shrugging off concerns over steadily rising oil supplies.
Brent crude futures were at $63.30 a barrel,...
Four Iranians won awards at the 5th International Invention Fair, which was a part of the 2019 Bitgaram International Exposition of Electric Power Technology (BIXPO 2019), held in Gwangju, South Korea, November 6-8.
The four were among winners selected from among 160 participants from 51...
Oil prices gained on Friday after OPEC’s forecast for oil demand next year fueled hopes that the producer group and allies will maintain supply cuts when they meet to discuss policy on output next month.
Optimism that the United States and China may soon sign an agreement to end their trade war...
The Organization of Petroleum Exporting Countries and its allies face stiffening competition in 2020, the International Energy Agency said Friday, adding urgency to the oil producer group’s policy meeting next month.
“The OPEC+ countries face a major challenge in 2020 as demand for their crude...
Global oil demand will hit a plateau around 2030 as the use of more efficient cars and electric vehicles ends an expansion that dominated the past century, the International Energy Agency predicts.
While the current growth rate of 1 million barrels a day -- or about 1% -- will hold for the next...
Despite a marginal decline in overall crude oil exports, Iraq has boosted the sales of its crude to top Asian importers China and India since late September, as the confusion over the return of full Saudi capacity after the attacks made other Middle Eastern producers more popular in Asia.
After...
Following the announcement of a huge oil field discovery in the southwest at the weekend, Oil Minister Bijan Namdar Zanganeh said Monday that the new oilfield in Khuzestan Province has been named ‘Namavaran’.
“With an estimated 53 billion barrels of crude oil in place, it is the second largest...
Renewable energy sources in Iran generated over 4.3 billion kilowatt hours of electricity since 2009.
If the same amount was produced by thermal power plants that consume gas as feedstock, 1.23 billion cubic meters of gas would be burnt, ILNA reported.
Producing electricity from green sources...