Latest news
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
The need for OPEC oil to decline in 2014 due to shale boom in America
The Organization of Petroleum Exporting Countries (OPEC) has estimated that in 2014 world oil demand will see a significant grow, by about 1.04 million barrels per day, an augment of about 300,000 barrels if compared with the growth predicted for 2013, representing the biggest increase in demand since 2010.
read more... 11/07/2013
Southern Italy holds major crude oil potential
Southern Italy, known as the second largest producer of olive oil, is also the holder of Europe’s biggest onshore crude oil fields, according to geologists.
read more... 05/07/2013
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
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... 19/06/2013