Norway’s solar installer Saga Energy has reportedly signed €2.5bn ($2.9bn) agreement with Iran’s state-owned Amin Energy Developers for the installation of 2GW of solar capacity in Iran.

The preliminary agreement involves construction of 2GW power generation capacity over a four- to five-year period.

Saga Energy spokesman Rune Haaland was reported by Reuters"...

Oil prices will be buoyed by continued regional tensions and conflicts. FXTM Vice President of Market Research Jameel Ahmad comments on the oil benefits from the Iraq conflict.

Oil benefits from Iraq conflict, US Iran tensions

WTI Crude Oil is attempting to maintain itself above $50, with traders encouraged to enter buying positions following the news of a conflict in"...

Iranian President Hassan Rouhani said on Wednesday that his country is ready to enhance relations with Uzbekistan and meet Uzbekistan’s energy needs.

In a meeting with Uzbek Foreign Minister Abdulaziz Komilov in Tehran on Wednesday, Rouhani said historical bonds between the two nations, along with cultural and civilizational commonalities, as well as common national and regional interests have brought the two countries closer together despite"...

National Iranian Oil Company (NIOC) subsidiary companies and Italy's Ansaldo Energia signed MoU to turn gas flare into electricity.

The MoU was sealed between the Italian firm, National Iranian South Oil Company, Pars Oil & Gas Company (P.O.G.C), Iranian Central Oil Fields Company (ICOFC) and Iran Fuel Conservation Company, Iran Petroleum Ministry reported.

The MoU aims at collecting issued gases to South Pars oil field phase"...

P ergas Consortium, a group of international oil and gas companies, submitted its development proposals for Karanj Oilfield, a reservoir in Khuzestan Province.

Bijan Alipour, managing director of the National Iranian South Oil Company, made the statement on the sidelines of a meeting with Pergas officials, including Colin Rowley, in Tehran on Tuesday, the National Iranian Oil Company news portal reported.

According"...

Goldman Sachs said that while oil output from the Kurdistan region was potentially at risk due to a standoff with Iraq, tensions between the United States and Iran remained a larger and longer term threat to global supply.

A risk premium has returned to oil markets, boosting global prices as escalating fighting in Iraq threatens supplies while political tensions loom between the U.S. and Iran. [O/R]

“In"...

Following Trump’s speech where he announced his new Iran strategy, any new sanctions will very probably come as a challenge to Iran’s energy sector, Omid Shokri Kalehsar, an energy analyst based in Washington DC, has told Trend.

'Iran holds the world’s fourth-largest proven oil reserves and the world’s second-largest natural gas reserves. Lifting sanctions in the wake of implementation of the Iran nuclear deal in fact"...

Fars Province Investment Services Center and Austrian Benefit & Solar Company signed a contract worth $100m to make four solar power plants in Abadeh, Fars Province, south of Iran.

Director General of Economic Affairs and Finance Office Babak Daee said, 'The capacity of the power plants will be 70 megawatts and will be made in Abadeh and Izad-Khast;' both town are located in north of Fars Province.

Daee also said that the"...

Oil prices steadied on Tuesday, holding on to gains made as fighting between Iraqi and Kurdish forces threatened supplies from northern Iraq while political tension rose between the United States and Iran.

After months of rangebound trading during which OPEC-led supply cuts supported crude values but rising U.S. output capped markets, prices have moved up significantly this month.

Brent"...

I ran's electricity exports rose nearly 25% in the first six months of the current fiscal year (March 21-Sept. 22) from the same period of a year ago, a deputy energy minister said on Sunday.

'Around 5.16 million kilowatt-hours of electricity were exported to neighbors in six months compared to 4.14 million kWh in the first half of the previous fiscal, up more than 1 million kilowatt-hours,” Houshang Falahatian was also quoted as saying"...