National Iranian Oil Products Distribution Company and Bank Mellat signed an agreement on Sunday to contribute to a plan to convert gasoline-based vehicles to hybrid CNG engines.
According to the MoU, $510 million required to convert 1.4 million gasoline-powered vehicles, including pick-up...
Chevron, the largest US oil group, announced it has approved the development of a deepwater high-pressure oil project in the Anchor oil field in the US Gulf of Mexico, which will require $5.7 billion investment, in the industry’s first such deep-water high-pressure projec.
During the first...
The European Union agreed to cut its total emissions to net-zero by 2050 after ten hours of debate as Eastern European states demanded financial help to hit the target.
Reuters reported that one EU member state was left out of the agreement: Poland. Poland has opposed the ambitious emissions...
The Italian government will push back the full liberalization of its retail power and gas market from its deadline of June 2020 to January 2022, with the timeframe becoming too tight to carry out the move.
The delay was included as an amendment to the 2020 budget, approved in parliament Thursday...
Oil prices extended gains on Friday, scaling three-month highs as the United States and China moved closer to a resolution to the 18-month trade war between the world’s two biggest economies that has raised big questions about global demand for crude.
Brent futures climbed 43 cents, or 0.7%, to...
US lawmakers have included sanctions on companies helping Russia’s gas giant Gazprom to complete the Nord Stream 2 pipeline project in the National Defense Authorization Act for the US defense in 2020.
The sanctions in the bill, which US lawmakers must pass to authorize defense expenditures,...
Brazil is carrying on with its plans to drill in the prolific pre-salt area even after UN leaders urged countries on Monday to steadfastly curb emissions of “climate-altering” gases that stem from—among other things—fossil fuels.
As a developing country, Brazil could not, according to Mines and...
The Kariba dam has plunged to its lowest level since 1996, raising further risks to the hydropower plants that Zimbabwe and Zambia depend on for nearly half of their power.
Water levels at the world’s largest man-made freshwater reservoir that straddles the two countries, fell to 10% of usable...
Power and water projects worth $110 million were inaugurated Tuesday in western Kermanshah Province.
The projects include a power plant and water distribution network in rural areas, the Energy Ministry news portal Paven reported.
The first 310 megawatt gas unit of Dalahoo Combined Cycle Power...
Oil prices fell on Monday after data showed that Chinese exports declined for a fourth straight month, sending shivers through a market already concerned about damage being done to global demand by the Sino-US trade war.
Brent futures were down 21 cents, or 0.3%, at $64.18 per barrel, after...