Iran is willing and ready to invest in the development of Nagapattinam refinery in Southern Tamil Nadu state, a senior Iranian diplomat said in New Delhi on Wednesday.
“We have announced our readiness to invest in the refinery,” said Iran's Ambassador to India Ali Chegeni, ILNA reported.
There...
Oil prices on Wednesday regained little ground lost in the previous session, weighed down by industry data suggesting US crude inventories fell less than expected.
West Texas Intermediate crude futures were up 31 cents at $57.93 a barrel, CNBC reported. Brent crude futures gained 53 cents to $...
Oil prices slipped on Monday after China posted its slowest quarterly economic growth in at least 27 years, reinforcing concerns about demand in the world’s largest crude oil importer.
Brent crude futures for September fell 21 cents to $66.51 a barrel while US crude for August was down 28 cents...
Tens of thousands of ships sailing the world’s oceans burn more than 3 million barrels of sludge-like high-sulfur fuel every single day. But, starting next year, the shipping industry will have to comply with rules that should dramatically reduce sulfur emissions.
“It is the biggest change in...
Two steam units of Shirvan Combined Cycle Power Plant in Shirvan County, North Khorasan Province, were launched Sunday in the presence of President Hassan Rouhani.
The two units, with a combined capacity of 320 megawatts, cost $260 million, IRNA reported.
The third 160 MW steam unit is...
Surging US oil output will outpace sluggish global demand and lead to a large stocks buildup around the world in the next nine months, the International Energy Agency said on Friday.
The forecasts appear to predict the need for OPEC and its allies to reduce production to balance the market...
China’s efforts to reduce some of the world’s worst air pollution are having a bonus positive effect, as they are improving the country’s potential to generate solar power by allowing more sunlight to reach the surface of the planet in that part of the world.
A team of researchers had calculated...
Any disruption in oil exports flowing through the Strait of Hormuz will be a “major obstacle” for Iraq’s economy, Iraqi Prime Minister Adel Abdul Mahdi said on Tuesday, as tensions continue to flare up in the Middle East.
Iraq has been studying ways around the vital chokepoint for oil exports...
The first and second steam units of Shirvan Combined Cycle Power Plant in Shirvan County, North Khorasan Province, will be launched next week, the managing director of Thermal Power Plants Holding Company said.
The two steam units, with a combined capacity of 320 megawatts, have cost $260...
OPEC's compliance with its production quotas fell sharply in June, as output gains in the month by Saudi Arabia and Nigeria, along with Iraq's, continued to flout their cap and shrank the bloc's margin for remaining within the bounds of their supply cut agreements.
The 11 members covered by...