Latest news
BP four-quarter profit increased in 2011
The British super major BP recorded an improved quarterly profit this week, being the first time in a year when he has beaten the profits of its rival, Royal Dutch Shell.
read more... 07/02/2012
Italian oil refineries at risk after Iranian oil embargo
The EU sanctions imposed on oil imports from Iran could drive to the closure of some Italian oil refineries, which are the most vulnerable refineries to closure in Europe, according to European oil industry sources.
read more... 06/02/2012
Iran: EU oil embargo may hike oil prices to $150
The world oil prices could hit $150 a barrel due to the European Union ban on imports of Iranian crude, the Iran’s deputy oil minister declared on Sunday.
read more... 02/02/2012
US to put a new lease of sale of the Gulf of Mexico blocks
Obama administration has decided to put a new lease of sale in the Gulf of Mexico with around 7250 offshore blocks for oil and gas exploration.
read more... 30/01/2012
Australia to support EU ban on Iranian oil
Australia will adopt the same position as EU concerning the ban of Iranian oil imports, in n a sign of protest against the Islamic republic's unacceptable nuclear program, the Foreign Affairs Minister, Kevin Rudd, says.
read more... 25/01/2012