Latest news
UK revealed it intends to create the most generous tax breaks in the world for shale gas producers
Britain's finance minister George Osborne has announced that Britain could become a leader in shale gas extraction as he intends to create world's "most generous" regime. He revealed that it plans to cut from 62% to 30% the tax on a proportion of production incomes, in a move which aims to encourage shale gas exploration.
read more... 22/07/2013
Italy’s Eni to diminish production targets at Iraq oil field
The Italian oil giant Eni decided to diminish production targets at its major oil field in Iraq-Zubair, while extending the duration of the Technical Service Contract for an additional five years, until 2035.
read more... 16/07/2013
Poland rethinks its strategy for shale gas production
Doubts over the scale of Poland's shale gas reserves surfaced last June after ExxonMobil announced plans to cease exploration, citing disappointing test drilling results. The withdrawal of two more multinationals - Talisman Energy of Canada and U.S. oil giant Marathon - has cast significant doubts over the viability of shale gas in Poland.
read more... 09/07/2013
France: EDF envisages a 5% increase in power tariffs in August
The French government has allowed French state-controlled power utility Electricite de France (EDF) to increase its electricity tariffs for residential consumers by 5% in August, and by the same share in August next year, citing recent increases of the company's production costs.
read more... 09/07/2013
Oil production worldwide increase on increased reserves
Global production of crude oil increased in 2012 as reserves estimates increased also. Last year, global production of oil amounted to almost 76 million barrels per day, an increase of about 3% in comparison to 2011 levels.
read more... 02/07/2013