Latest news
Russian-British TNK-BP to acquire 45% stake in Brazil deposit
The Russian-British joint venture TNK-BP is in talks with Brazil’s Petro Energia to buy 45% in an oil and gas deposit in Brazil's Solimoes region for $1 billion.
read more... 19/07/2011
ENI and PDVSA in a $2 billion financing deal
The Italian energy company, ENI, signed a $2 billion financing agreement with Venezuela's Petroleos de Venezuela SA (PDVSA) to jointly develop oil projects in the Orinoco River basin and build a power plant in eastern Venezuela.
read more... 18/07/2011
UK energy drilling declines to a nine-year low
Energy companies operating in the UK North Sea, drilled 50 % fewer wells compared with April to June of 2010, mainly due to tax increases, reaching the lowest level in the second quarter since nine years, according to the industry figures.
read more... 15/07/2011
Daily Energy Market Overview, Friday, July 15, 2011
Oil price dropped on Friday on a weaker dollar after the warning from the ratings agency Standard & Poor's about a possible credit rating cut of the Unites States. Brent crude for September decreased by 58 cents to $115.68 a barrel by 10:01 GMT, after the expiry of the August contract on Thursday at $118.32. Meanwhile, U.S. crude prices decreased 11 cents to $95.58 after having lost more than $2 on Thursday.
read more... 15/07/2011
BP to invest £3 billion in North Sea fields despite tax hike
The oil giant BP is planning to invest £3 billion in developing the Schiehallion and Loyal oil fields in the Shetland Isles, despite the controversial oil tax hike initiated by the British government.
read more... 14/07/2011