Latest news
DECC: UK’s oil and gas output down in 2012
New annual statistics offered by the Department of Energy and Climate Change revealed that UK’s oil and gas output dropped by 10.3% in 2012 to 122.9 million tons of oil equivalent.
read more... 29/04/2013
China to lower fuel prices due to declines of global oil prices
China, the world’s second-biggest oil consumer has announced it intends to lower oil prices in its first change under a new fuel price mechanism that is more tightly linked to the cost of crude oil.
read more... 25/04/2013
Eni’s quarterly profits registered a drop of 57%
Italy's largest energy company, Eni SpA said its profits dropped 57% in the first quarter due to the weaker results to rising taxes and a poor operating performance. Eni said that net profit for the first three months to March was €1.5 billion, compared with €3.62 billion in 2012.
read more... 25/04/2013
Oil production of five main international oil companies decreased 25% since 2004
Crude oil production of Exxon, BP, Shell, Chevron and Total has fallen by 25.8% over the past twelve years, after beating an historic high in 2004 when total combined crude production reached 10.76 million barrels a day. The production has fallen despite huge growth in their investments, allowed by the significant increase in crude oil prices practiced since late 2000.
read more... 22/04/2013
Norway: Statoil unveils a significant discovery in the North Sea
Norwegian energy company Statoil ASA announced it has found significant new oil resources in the North Sea.
read more... 22/04/2013