The United Arab Emirates’ energy minister said on Wednesday he saw no immediate risk to oil passing through the vital gateway of the Strait of Hormuz after Iran attacked bases housing US forces in Iraq.
Iranian officials have said the missile strikes were a response to Friday’s killing by US...
Oil prices rose a further 2% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a US air strike which martyred a top Iranian military commander in Iraq.
Brent crude futures soared to a high of $70.74 a barrel,...
Construction of the first steam unit of Asaluyeh Combined-Cycle Power Plant has made 90% progress and is planned to come online by March.
The plant includes two gas units, each with a generation capacity of 166 megawatts. The 159 MW steam unit will lift the plant's efficiency to 50%, prevent...
Oil prices could surge toward $80 a barrel if escalating geopolitical tensions disrupt Middle East crude supplies, analysts told CNBC on Friday, with energy market participants “on tenterhooks” after a US airstrike on key Iranian and Iraqi military personnel.
International benchmark Brent crude...
President Hassan Rouhani inaugurated three dams and an irrigation network in the northwestern Ardabil Province on Wednesday.
Built at a cost of $30 million, the dams (Ahmadbiglou in Meshgin Shahr, Befrajerd in Khalkhal and Tazehkand in Germi) can store up to 41 million cubic meters of water,...
Household gas consumption reached 530 million cubic meters a day over the first 10 days (Dec. 22 – Dec. 31, 2019), dispatching director of National Iranian Gas Company said.
Mehdi Jamshidi Dana said households (in the 10 days) used 160 mcm/d more gas than the corresponding period of 2018, when...
Oil prices fell 1% on Tuesday, the last trading day of the decade, but notched the biggest annual gain in three years, supported by a thaw in the prolonged US-China trade war and ongoing supply cuts from major oil producers.
Brent gained about 23% in 2019 and WTI rose 34%, their biggest yearly...
Oil prices held on to three-month high on Monday, underpinned by optimism over an expected China-US trade deal and upbeat industrial data, while traders kept a close watch on the Middle East following a US air strike.
Investors remained cautious despite news of the US strikes in Iraq and Syria...
With less than a week to go before the implementation of global low sulfur regime for bunker fuels, a large number of ship owners in the race to be compliant are offloading the ineligible grades, market participants said.
While most owners are making a transition to low sulfur bunker fuel, this...
The Organization of the Petroleum Exporting Counters and its allies, known as OPEC+, may consider wrapping up their oil output reduction in 2020, Russian Energy Minister Alexander Novak said on Friday.
“As far as the production cuts are concerned, I repeat once again, this is not an indefinite...