Oil prices surged again on Monday, extending multi-week gains as an energy crisis gripping major economies shows no sign of easing amid a pickup in economic activity and restrained supplies from major producers.
Brent crude was up $1.18 cents, or 1.4%, at $83.57 a barrel, after gaining nearly 4...
Oil prices rose on Friday, tracking toward a 4.5% gain for the week on signs some industries have begun switching fuel from high-priced gas to oil and on doubts the US government would release oil from its strategic reserves for now.
“A lot of catalysts are out there to keep the oil market tight...
The amount of water in Taleghan Dam, 135 kilometers northwest of Tehran, decreased by 28% in the past water year (September 2020-21) compared to the previous year (September 2019-20).
As the end of the last water year, the dam had 295 million cubic meters of water, 28% less than a year ago and...
The environmental permit for the construction of two steam units at the Soltaniyeh Power Plant in Zanjan with an aggregate capacity of 320 megawatts has been issued by the Department of Environment so that the thermal power station will be turned into a combined-cycle one.
MAPNA Group will...
The construction of Tang Sorkh Dam in Yasouj, capital city of Kohgilouyeh-Boyerahmad Province, is expected to be completed by the end of the next Iranian year (March 2023), the energy minister said.
“With a storage capacity of 125 million cubic meters of water, the dam will supply water to...
Two of Big Oil’s biggest players dropped their long-term energy outlooks this week: French energy company TotalEnergies and the Organization of the Petroleum Exporting Countries.
They offer quite different visions of the world 25 years from now. The European energy major sees a future driven by...
Oil fell below $78 a barrel on Friday on the prospects of OPEC+ producers stepping up a planned increase in output to ease supply concerns, although crude remained in sight of a three-year high reached this week.
The Organization of Petroleum Exporting Countries and allies, known as OPEC+, meets...
Daily gasoline consumption in Iran has reached 85 million liters, which is 18% higher than the corresponding period of last year, the head of Gasoline Station Owners Association said.
“However, the fuel’s consumption is still 20% lower than the pre-pandemic period,” Homayoun Salehi was also...
OPEC sees oil demand continuing to grow to the middle of next decade, even as world leaders prepare for another attempt to avert catastrophic climate change.
Global fuel consumption will fully recover from its pandemic slump by 2023 and will keep growing until it hits a plateau shortly after...
Oil markets climbed for a sixth day on Tuesday, reversing earlier losses, on fears over tight supply while surging prices of liquefied natural gas and coal also lent support.
Brent crude futures gained $1.05, or 1.3%, to $80.58 a barrel, after reaching its highest since October 2018 at $80.75...