Oil Industry

  • Iran plant stops flaring gas worth millions of dollars

    Iran plant stops flaring gas worth millions of dollars

    Mar 03, 2018 14:20

    Iran is about to save $300 million a year after inaugurating an offshore project which will stop flaring gas in the Persian Gulf, a senior official was quoted as saying Saturday.

  • Malaysia’s Petronas to study Iranian oil fields

    Malaysia’s Petronas to study Iranian oil fields

    Dec 22, 2016 13:17

    Malaysia’s Petronas has signed an agreement to study two Iranian oil fields – the latest in a wave of similar agreements that the country is awarding international energy giants over its most lucrative oil projects.

  • OPEC agrees first oil production cut in 8 yrs: Informed source

    OPEC agrees first oil production cut in 8 yrs: Informed source

    Nov 30, 2016 15:50

    Delegates attending the 171st ministerial meeting of the Organization of the Petroleum Exporting Countries (OPEC) have reached an agreement to slash oil production in a bid to prop up global prices, the first output cut since 2008, an informed source says.

  • Oil prices may surpass $50 if all producers agree: Petroleum minister

    Oil prices may surpass $50 if all producers agree: Petroleum minister

    Nov 19, 2016 15:01

    Minister of Petroleum Bijan Zangeneh has expressed optimism about an upcoming meeting of the Organization of the Petroleum Exporting Countries (OPEC) later this month, saying crude prices could surpass $50 a barrel if an agreement is reached.