Latest news
OMV puts up for sale a 30% stake in UK North Sea Rosebank project
Austrian oil and gas company OMV envisage selling a 30% stake in the Rosebank oil and gas project in the British North Sea, as it aims cutting its budget to struggle with weakening oil prices.
read more... 30/07/2015
IEA: Crude oil prices set to continue the slowdown trend
Crude oil prices will continue to decline due to a massive supply glut, according to the International Energy Agency (IEA).
read more... 13/07/2015
OPEC oil production rocketed to three-year high in June
The Organisation of Petroleum Exporting Countries (OPEC) oil supply has rocketed to a three year high in June due to a record breaking output from Iraq and flat exports from Saudi Arabia.
read more... 06/07/2015
Shell CEO declares BG Group purchase is on course
Royal Dutch Shell's chief executive officer, Ben van Beurden, declared on Thursday the $70 billion purchase of British competitor BG Group is on track and fits into Shell's plans to raise the share of natural gas in its portfolio.
read more... 19/06/2015
Statoil to lay off up to 1,500 permanent employees amid crude oil price collapse
Norway’s state-controlled Statoil envisages cutting its workforce between 1,100 and 1,500 by end of 2016 as an effort to standardise, simplify and increase efficiency across the company.
read more... 17/06/2015