Latest news
Japan disaster leads to falling oil prices
Crude oil prices felt following Japan’s strongest earthquake record, shaking whole oil markets and raising concerns about weakening world demand.
read more... 14/03/2011
Oil prices grow as Libyan oil output decreases
The oil prices jumped yesterday by 0.5% to $117 after forces loyal to Libyan leader Muammar Gaddafi bombed oil industry infrastructure, causing long term damages on the Libyan oil export.
read more... 11/03/2011
Shell is concerned about pipelines vandalism in the Niger Delta region
Shell Petroleum Development Company is very concerned about vandalism attacks at its pipelines in the Niger Delta region. The company officials declared that 22 spills of pipeline occurred between January and February this year.
read more... 10/03/2011
Libyan trade affected by U.S. sanctions
Recent events in Libya have led the United States and other countries to impose sanctions on Libya. Due to these sanctions, a number of U.S. oil trading companies have pulled back from trading crude and refined products in and out of Libya and some large banks have withdrawn their funds.
read more... 10/03/2011
Petrofac reports its net profit final results
Petrofac, oil & gas services company has registered a 26% increase in profit in 2010, despite the unrests from the Middle East, exceeding its profit expectations and forecasting its net profit to rise at least 15% in 2011.
read more... 08/03/2011