Iran plans to dramatically boost oil production from shared fields with Iraq, particularly in the West Karoun cluster.

Iran's Revolutionary Guards have seized two overseas-registered tankers in the Persian Gulf accused of fuel smuggling.

With U.S. waivers on Iranian energy imports revoked, Iraq is under pressure to rapidly develop its own non-associated gas ...

BAKU, Azerbaijan, March 8. The National Iranian Oil Company (NIOC) disclosed the contract values and locations for seven new hubs in the South Pars gas field, following agreements signed on March ...

Past attempts to seize Iranian oil have sparked retaliation from Tehran. In 2023, Iran seized foreign ships—one chartered by Chevron. With Iran’s oil revenues largely tied to exports to China ...

BP has received final government approval for the redevelopment of Iraq's giant Kirkuk oil fields, with an initial ... 2025 Iraq says Iran used forged Iraqi documents on oil tankers, Tehran ...

Languages: English and Farsi Oil prices surged on Friday, heading for a second consecutive weekly gain, as new U.S. sanctions on Iran intensified concerns over global supply. The latest measures ...

NEW YORK, March 21 (Reuters) - Oil prices settled higher on Friday and recorded a second consecutive weekly gain as fresh U.S. sanctions on Iran and the latest output plan from the OPEC+ producer ...

(Bloomberg) -- Oil advanced after the US ramped up measures to hobble Iran’s crude exports, increasing pressure on Tehran amid a push for a new nuclear accord. West Texas Intermediate rose 1.6% ...