Latest news

BP plans to spend over $1bn in Egypt in 2019

BP is planning to spend more than a billion dollars on its assets in Egypt in the coming year. According to Bob Dudley, BP chief executive, the company will spend $1.8 billion in Egypt and an additional $1 billion annually in Abu Dhabi on new discoveries and licensing rounds as it looks to expand its operations in the Middle East.

read more... 16/11/2018


LUKOIL drilled the 2nd well in the Eastern part of the Yuri Korchagin field

LUKOIL completed the construction of the 2nd production well from the wellhead platform at the Yury Korchagin field in the Caspian Sea.

read more... 15/11/2018


Saudi Arabia, Russia discussing possible oil-production cuts

Saudi Arabia's energy minister said Sunday that the kingdom will reduce exports by about 500,000 barrels a day from November to December. Khalid al-Falih made the comment at a meeting of oil producers in Abu Dhabi.

read more... 12/11/2018


Asia overtakes Europe as Russian Rosneft's main export market

Russian oil major Rosneft is sending half its oil production to Asia

read more... 09/11/2018


US oil production is set to soar past 12 million barrels per day

Rising shale production is putting the United States on track to hit the 12 million bpd oil production mark sooner than previously forecast, the Energy Information Administration said in its November Short-Term Energy Outlook.

read more... 08/11/2018