Latest news
Rosneft and SOCAR to seal oil and gas cooperation deal
Russian crude oil giant, Rosneft on Tuesday sealed an oil and gas deal with Azerbaijan's state energy firm, SOCAR.
read more... 15/08/2013
China on track to become world’s biggest oil importer
China is on track to become the world’s largest importer of crude oil, surpassing the U.S. for the first time. In the first 7 month of this year, China’s crude oil imports have already risen 1.4 % to 164 million tons. China is already the biggest energy consumer in the world and the second-largest oil consumer after the United States.
read more... 13/08/2013
IEA: global oil demand growth to slow in 2014
In its most recent Oil Market Report, the IEA has reduced its 2014 growth estimates for oil demand by 100,000 barrels per day, down to 1.1 million barrels per day, due to weaker than expected economic growth.
read more... 12/08/2013
Statoil’s second-quarter net profit sink missing expectations
Norwegian oil and gas giant Statoil released a considerable second-quarter net profit, missing analysts' expectations, being hurt by weak prices, poor trading results and slightly lower volumes.
read more... 25/07/2013
Russia increase its oil deliveries to China
In a move which aims to reduce oil exports to European market, Russia has recently announced that it intends to increase oil flows to Asia, making Beijing its top customer, which now imports a fifth of oil exports from the major crude oil producer in the world.
read more... 24/07/2013