Iran is planning a speedy increase in its oil output, a senior oil ministry official said on Wednesday, as talks continue between Tehran and six major powers to lift U.S. sanctions that have seen it pumping far below capacity since 2018. Iran and the six powers have been in talks …

Indigenizing the technology for the manufacturing of some special parts and equipment in the implementation of the development project of the phase 14 of Iran’s South Pars gas field has saved the country $170 million, head of the Industrial Development and Renovation Organization of Iran (IDRO) announced on Tuesday. Making …

Saudi Arabia’s energy giant, Saudi Aramco, has started sales of its first dollar-denominated Islamic bond as it seeks to raise cash to pay out $75 billion in dividends. The official Saudi Press Agency said that the sale of sukuk, or Islamic bonds compliant with the Muslim faith, will end on …

Iraq is working on a plan to build nuclear reactors as the electricity-starved petrostate seeks to end the widespread blackouts that have sparked social unrest. OPEC’s No 2 oil producer – already suffering from power shortages and insufficient investment in ageing plants – needs to meet an expected 50% jump …

Global oil demand is set to rebound and remain robust for some time, BP’s chief executive Bernard Looney told Bloomberg News on the sidelines of an economic forum in Russia, reiterating views expressed by most forecasters and analysts. “There is a lot of evidence that suggests that demand will be …

State-owned Oman LNG has signed an agreement with Royal Dutch Shell to deliver the Middle East’s first shipment of carbon-neutral LNG. The carbon-neutral LNG cargo will be delivered from the terminal in Qalhat near Sur, in the Ash Sharqiyah Region of northeastern Oman. Oman LNG explains that nature-based projects aim …

Afghan officials say electricity imported to the country from Iran has been cut due to an explosion in an electricity tower. Afghanistan Electricity Company announced the explosion of an electricity tower in Herat province. Zeinab Mohseni, public relations manager of Breshna Company in Herat, said that this morning, the electricity …

One thing COVID-19 has made clear is that Europe needs to be more self-sufficient. However, policymakers are looking to Africa and even further abroad for their renewable hydrogen, despite the potential pitfalls of such a plan, writes Luc Grare. Luc Grare leads the Hydrogen Production Roundtable at the EU Clean …

Iran’s ambassador to the International Atomic Energy Agency has criticised the director general of the International Atomic Energy Agency for what he called adopting a biased approach to interactions with Tehran. In a series of tweets, Kazem Gharibabadi said Rafael Grossi’s Monday reports on Iran’s nuclear program “ignore the level …

OPEC and its allies expect oil inventories to fall further in the coming months, OPEC’s secretary general said on Monday, suggesting efforts by the producers to support the market are succeeding. Oil stocks in developed world nations fell by 6.9 million barrels in April, Mohammad Barkindo said in a virtual …