The OPEC+ group of oil producers will need to make deeper output cuts when they meet in December. That is the inescapable conclusion from the latest round of monthly reports published by the three big oil-forecasting agencies.
The International Energy Agency, the US Energy Information...
Gazprom has started to fill the first branch of the offshore section of the Turkish Stream pipeline with natural gas. This is the final stage of testing the pipeline before putting it into operation later this year.
“Filling the pipeline system with gas is a significant step towards the start of...
Construction on the site of the second unit of Bushehr Nuclear Power Plant in south Iran will start in early November, spokesman of the Atomic Energy Organization of Iran said Tuesday.
“As per schedule work will commence for pouring concrete for the site in three weeks” ISNA quoted Behrouz...
Oil prices fell Monday as scant details about the first phase of a trade deal between the United States and China undercut optimism over a US-Sino thaw that had helped lift crude markets by 2% at the end of last week.
Brent crude fell 46 cents to $60.05 a barrel, while US West Texas Intermediate...
Russian Energy Minister Alexander Novak said on Monday there were no talks underway to change the global output deal under which OPEC and non-OPEC oil-producing countries have curbed output in order to support prices.
Moscow is fully committed to the deal, Novak told reporters while visiting...
Rates to charter oil tankers from the Persian Gulf, United Kingdom and the US Gulf Coast to Asia surged to fresh highs on Friday as global oil traders grappled with a tanker shortage in the aftermath of US sanctions on units of Chinese giant COSCO.
Occidental Petroleum Corp tentatively chartered...
Oil prices jumped more than 2% on Friday after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants.
The Suezmax crude tanker Sabiti was ablaze and suffered...
OPEC trimmed its forecast for oil demand growth for the third month in a row on Thursday, citing weaker-than-expected data in the Asia Pacific region as well as advanced economies in the Americas.
The move is likely to add to growing pressure on the Middle East-dominated group to impose a deeper...
There has been no rise in electricity tariffs despite the elimination of paper billing, the Energy Minister said in Tehran on Tuesday.
“Digital billing has not increased electricity tariffs, but has created a good opportunity for subscribers to observe the performance of their electricity meters...
Chinese oil imports from ship-to-ship transfers surged last month as flows from some traditional suppliers were crimped by the White House’s aggressive trade and foreign policies.
Some 910,000 tons of crude, three times as much as in August, was offloaded at Chinese ports after being transferred...