Latest news
North Sea oil production at a slower decline rate
Oil and gas production in the North Sea reduced in 2013 less than expected, attaining 1.43 million barrels per day, or an 8% drop, according to data published by Oil&Gas UK.
read more... 27/02/2014
Shell vends Australian assets to Swiss Vitol for $2.9 billion
Oil major company Shell has vended Australian Geelong oil refinery, located south of Melbourne, and 870 filling stations to Swiss top global oil trader Vitol for $2.9 billion.
read more... 24/02/2014
Statoil to develop Norwegian oil field
Statoil has announced that together with its partners they have agreed on a concept for the expansion of the Johan Sverdrup field, one of the five biggest discoveries ever made offshore Norway, estimating a first phase investment of up to NOK120bn ($19.6bn).
read more... 20/02/2014
US authorises limited crude oil exports to Europe
The U.S. government has approved some new licenses to export crude oil to Europe for the first time after the country banned crude exports following the oil shocks of the 1970s. In December last year, Exxon Mobil Corp. joined Royal Dutch Shell and ConocoPhillips in publicly urging a repeal of the 1970s era federal law that strictly limits exports of domestic oil.
read more... 05/02/2014
UK registered a 44% increase in its oil fields in the North Sea
According to a new report by Deloitte's Petroleum Services Group (PSG) the number of fields which started producing oil and gas in the UK, last year hit its highest level in five years, as a number of operators have done more attention on development activity.
read more... 29/01/2014