The National Iranian South Oil Company, the Iranian Offshore Oil Company and Iran Central Oil Fields Company -- all subsidiaries of the National Iranian Oil Company – signed contracts with domestic oil and gas firms on Monday to develop eight oilfields.
According to ILNA, production, maintenance...
Brent crude oil prices fell by $1 per barrel on Monday, hit by renewed concerns about global fuel demand amid tough coronavirus lockdowns in Europe and new curbs on movement in China, the world’s second-largest oil user, where infections jumped.
Brent crude oil futures were down 78 cents, or 1.4...
Oil prices held near 11-month highs on Friday and were on track for a strong weekly gain as Saudi Arabia’s pledge to cut output continued to buoy market sentiment.
Brent crude climbed 13 cents, or 0.2%, to $54.51 a barrel. It touched $54.90 on Thursday, the highest since February, Reuters...
Iraq is still waiting for Iran to resume supplying the country with sufficient amounts of gas for power generation, after the US granted Baghdad a 90-day waiver to continue to import electricity from Tehran on Dec. 30.
"The reason for power shortages in provinces is the continuing slashing of...
Oil prices rose on Wednesday to their highest since February 2020 after Saudi Arabia agreed to reduce output more than expected in a meeting with allied producers, while industry figures showed US crude stockpiles were down last week.
Brent crude rose as much as 0.9% to $54.09 a barrel, the...
As one of the most tumultuous years in oil’s history ends, a delicate task now confronts OPEC+.
The alliance of producers led by Saudi Arabia and Russia must decide whether it can continue to restore crude supplies without capsizing the price recovery they spent most of 2020 working to achieve,...
With the completion of 40 rural water supply projects in Markazi Province, water problems in 74 villages with 300,000 people have been resolved, managing director of the provincial Water and Wastewater Company said.
“Out the total 1,113 villages in the province, 854 with a population of about...
The LNG market enters 2021 with reports of a South Korean company planning to use LNG-cooled warehouses for bulk storage of Covid-19 vaccines as conventional cold distribution chains could be stretched.
This is emblematic of how LNG is finding new uses in Asia where gas exporters are looking to...
Oil gained ground on Wednesday on the back of a weaker dollar, a decline in US crude oil inventories and as Britain approved another coronavirus vaccine, but both benchmark contracts were set to end the year about 20% lower. Brent crude futures rose 45 cents to $51.54 a barrel, having started the...
Oil prices edged higher on Monday after Donald Trump, the embattled outgoing US president, signed a $2.3 trillion coronavirus aid and spending package, although lingering worries about near-term demand weighed on the market.
Brent crude futures added 12 cents, or 0.2%, at $51.41 a barrel, having...