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The Organisation of Petroleum Exporting Countries (OPEC) has projected that despite the growing need for renewables as a source of energy, crude oil and its associated products will remain the largest contributor to the energy mix in the next 25 years. In its annual World Oil Outlook (WOO) 2020, released …

CEO of Parsian Gas Refining Company Farshid Abdali Dehdezi announced a 9% year-on-year increase in the production of gas and gas condensates in the first six months of the current Iranian year (March 21, 2020-September 21, 2020) Abdali Dehdezi pointed out that his company supplied 10.34 billion cubic meters of …

Russian gas giant Gazprom expects excess supplies in Europe’s natural gas market to continue in 2021, the head of the company’s exporting arm said on Monday, blaming exports of liquefied natural gas (LNG) from the United States. Gazprom has seen its share of the European gas market, where it makes …

Iran’s Permanent Envoy to the International Atomic Energy Agency (IAEA) said that considerable centrifugal and quality of nuclear materials have no place in the documents of IAEA. Iran’s Permanent Ambassador to Vienna-based International Organizations Kazem Gharibabadi made the remarks on Sunday in his reaction to the statements raised by the …

CEO of the Iranian Central Oil Fields Company Ramin Hatami said the ICOFC had planned to produce over a billion cubic meters of gas from Sarajeh gas storage facility in winter. “A sum of 902 million cubic meters of gas was recovered from Sarajeh facility last year,” Hatami said, adding, …

The Covid-19 pandemic and an ongoing shift to renewables are accelerating an exodus of the world’s largest oil and gas companies from South-east Asia, dimming prospects for investment and raising the possibility of supply shortages once demand recovers. US and European oil majors have either announced or are thought to …

Oil prices dropped for a second straight session on Monday as U.S. producers began restoring output after Hurricane Delta weakened, while a strike that had affected production in Norway came to an end. Brent crude for December fell 32 cents, or 0.8%, to $42.53 a barrel by 0347 GMT and …

Iran’s Energy Minister Reza Ardakanian held talks with Acting Foreign Minister of Afghanistan Mohammad Hanif Atmar on the permanent transmission of electricity to Afghanistan. In a videoconference on Saturday night, the two sides discussed preparation for holding a joint economic commission next month, planning and implementing joint economic programs, electricity …

Iraq’s Oil Minister Ihsan Abdul Jabbar said oil prices are expected to reach around $45 in the first quarter of 2021, the al-Sabah state newspaper reported on Sunday. Iraq has also based a draft 2021 federal budget on a projected oil price of $42 per barrel, the paper cited the …

Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman Al Saud, stated that the Kingdom seeks to be a leader in finding solutions for the green energy future. “We will not be a part of the problem, nor will we accept to be just a part of the solution. Our …