Decks 13A and 13C of South Pars Gas Field Phase 13 were loaded at the Iran Marine Industrial Company, also known as SADRA, in Bushehr Province on Monday.
The rigs, each weighing 2,500 tons, will be moved to their final destinations in the Persian Gulf after which installation work will commence...
Oil prices jumped by more than 3% on Wednesday on reports that scientists have developed an effective drug against the fast-spreading coronavirus that has weighed heavily on global economic activity.
News that the Organization of the Petroleum Exporting Countries and its producer allies are...
Oil prices extended declines on Monday, dragged down by worries about lower demand in the world’s largest oil importer China following the coronavirus breakout.
Brent and US West Texas Intermediate crude fell for a fourth week in a row last week after airlines cancelled flights to China, CNBC...
A coronavirus-triggered 10% fall in crude oil prices over the last two weeks has shaken some OPEC countries --- including kingpin Saudi Arabia --- to the realization that waiting until March 5-6, as scheduled, to potentially announce deeper production cuts may be too late.
OPEC officials led by...
Crude prices extended declines on Monday, dropping below $60 for the first time in nearly three months as the death toll from China’s coronavirus rose and more businesses were forced to shut down, stoking expectations of slowing oil demand.
Brent crude fell by $1.79 a barrel, or 2.95%, to $58.90...
International Bunker Industry Association (IBIA) visited various shipping and bunker participants in Copenhagen earlier in January and said players reported "a surprisingly smooth transition" to the International Maritime Organization's revamped sulfur regulations for marine fuel.
The...
Newly announced US sanctions aimed at harming petroleum and petrochemical trade between Iran and China will not substantially impact China's status as the top importer of Iranian crude, analysts said.
"With these new sanctions, the US is essentially mowing the lawn on Chinese trade," said Henry...
As it struggles with its energy needs, Iraq is set to hold a fifth bidding round for exploration and development of natural gas fields in an eastern province of the country.
Iraq has approved contracts for exploration for the fifth round, Reuters quoted the government as saying in a...
A new photovoltaic power station in Hamedan Province was synchronized with the national power grid on Thursday.
Located in Kabudarahang County, the 7 MW unit was built by a private company at a cost of $6 million, the Energy Ministry’s news portal reported.
It will generate 11.5 gigawatt hours...
Oil prices eased on Wednesday, extending declines as the International Energy Agency forecast a market surplus in the first half, helping ease concerns about disruptions that have slashed Libya’s crude output.
Brent crude was down 24 cents, or 0.4%, at $64.35 a barrel, after dropping 0.3% on...