Petroleum Development Oman, the largest oil and condensate producer in the sultanate, is on track to increase its output capacity by more than 10% to top 670,000 bpd in five years as it ramps up exploration activity and pumps more out of existing fields, a company official told S&P Global...
Power outages during peak hours declined by 98% since March to July compared to the same period last year, the Energy Ministry’s spokesman for the power department said.
"With higher water levels in hydroelectric dams, thanks to the heavy rains in March, hydropower plants are generating 12,000...
The world’s biggest oil companies have been steadily shifting investments toward natural gas, driven by an emerging globally traded market and environmental concerns. But right now they are taking a hit as prices tank.
Supermajor energy producers -- Exxon Mobil Corp., Royal Dutch Shell Plc,...
A sharp recovery in oil product margins over July may lead Saudi Aramco and Iraq's SOMO to tone down the extent of price cuts on crude oil headed to Asia in September, a survey of market participants by S&P Global Platts showed this week.
"[There] should be cuts, but restrained cuts due to...
India imported in June the highest volume of Venezuelan crude in 21 months, more than double the amount from May and more than 50% higher than in June 2018, Reuters reported on Monday, citing data provided by industry and shipping sources.
The surge in India’s imports of Venezuelan crude oil to...
A new gas unit in Tarasht Thermal Power Plant west of Tehran came on line Monday, managing director of Iran's Thermal Power Plants Holding Company said.
“The unit, which cost $11 million, adds 25 megawatts to the plant capacity,” the Energy Ministry news portal Paven quoted Mohsen Tarztalab as...
The National Iranian Drilling Company has drilled and repaired 51 onshore and offshore oil and gas wells since the beginning of the current fiscal in March, the company’s deputy managing director for drilling affairs said.
"With the help of 3 offshore and 69 onshore rigs, NIDC, a subsidiary of...
To increase the share of value-added exports, the National Petrochemical Company’s propylene output is expected to increase by 3 million tons or 300% over the next five years, the head of the company said Monday.
"Annual propylene production now is 900,000 tons and is programmed to reach 3.9...
Oil prices fell on Monday as investors fretted over the outlook for global economic growth, while weekend talks between Iran and major powers ended on a generally positive note, suggesting an easing of tensions in the Middle East.
Brent crude futures were down by 37 cents, or 0.6%, at $63.09 a...
The Trump administration on Friday renewed Chevron Corp’s license for three months to drill for oil in Venezuela despite sanctions, a compromise between officials seeking maximum pressure to oust socialist President Nicolas Maduro and those favoring a longer renewal for the company.
The treasury...