A memorandum of understanding (MoU) has been signed between the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) and Farassan Industrial Group to expedite the water supply project from the Persian Gulf to the Parsian Special Economic Energy Zone in Bushehr...
Canada’s Senate passed last week two controversial bills restricting the movement of oil tankers off the northern coast of British Columbia and overhauling the assessment process for oil pipelines—bills which have pitted environmentalists and liberals against the oil industry and the neighboring...
Oil tanker owners are raising the prices they charge to export Middle East crude as tensions surge in a region that accounts for about a third of all seaborne petroleum shipments.
Rates for transporting 2 million barrels cargoes from Saudi Arabia to China jumped to almost $26,000 a day, more...
Russia is willing to step in to help Iran export its oil while the country is struggling to keep the oil flowing due to the new US sanctions.
Iran’s budget counts on raking in around $30 billion from oil and gas condensate exports, Oil Price reported.
It was holding out hope that Europe would...
Crude and condensate in long-term floating storage hit its highest since August 2017 in May at 24 million barrels, as US sanctions against Venezuela and Iran hindered the ability of the OPEC members to export, data from analytics firm Vortexa showed.
Floating storage rose 15 million barrels in...
Japanese refiners have started weighing alternative crude supply sources that would not need to transit through the Strait of Hormuz, including from the Red Sea side in Saudi Arabia, West Africa and the US, amid rising tensions in the region, Petroleum Association of Japan President Takashi...
After being hit by the trade war and US sanctions on Iran, some Chinese buyers of liquefied petroleum gas from the Persian Gulf nation are finding it is too tough a habit to kick.
China sourced around a fifth of its LPG -- used as cooking fuel, in cigarette lighters and to make plastic -- from...
Oil prices rallied towards $65 per barrel on fears of a US military attack on Iran that would disrupt flows from the Middle East, which provides more than 20% of the world’s oil output.
Brent crude was up 42 cents, or 0.66%, at $64.87 a barrel.
The global benchmark jumped 4.3% on Thursday and...
OPEC and its allies have fixed the date of their upcoming meetings in Vienna for July 1-2, four sources have told S&P Global Platts, ending a protracted scheduling spat that the organization's president had warned was keeping the oil market on edge.
OPEC's website has been updated with the...
Emissions need to be halved by 2030 to limit warming to 1.5 degrees Celsius but temperatures are on track to reach double that by the end of the century even if countries’ current plans are fully implemented, research by scientists shows.
A group of European researchers, Climate Action Tracker...