Latest news
Rosneft is tripling oil supplies to China
Russia's top oil producer OAO Rosneft signed an agreement with China to increase crude oil deliveries, reinforcing energy relations between Russia, the world's largest energy producer, and China, the biggest consumer. Russian state-owned oil major Rosneft intends to tripling supplies to China to 1 million barrels a day via the Eastern Siberia–Pacific Ocean oil pipeline.
read more... 25/03/2013
Total sells 25% stake in Tempa Rossa oil field
France-based multinational oil and gas company Total, has decided to sell a 25 % stake in the Tempa Rossa oil field, which is situated in the Basilicata region of southern Italy, to Mitsui E&P Italia. Total, which has discovered the Tempa Rossa oil field in 1989, and has operated the concession since 2002, will remain operator of Tempa Rossa with a 50% stake.
read more... 20/03/2013
Eni hits another oil discovery in Angola
Eni, the Italian oil and gas company unveiled its ninth oil discovery in Block 15/06, in deep water offshore Angola, boosting the resource base at West Hub project.
read more... 19/03/2013
OPEC to revise its oil demand forecast downward in 2013
Global oil demand growth could be revised slightly downward of forecasts in 2013, according to the Organization of the Petroleum Exporting Countries (OPEC), dragged down by economic uncertainty in the euro zone and United States, as well as U.S. supply will hit its highest level in three decades, slashing the need for oil from the 12-member producer group.
read more... 13/03/2013
Bulgaria withdraws from major project with Russia and Greece
Bulgaria's outgoing parliament has voted to abandon a 1 billion euro oil project meant to bring Russian oil to Greece via Bulgaria. A total of 115 lawmakers in the 240-seat legislature voted to scrap a 2007 agreement with Russia and Greece for the 280-kilometre pipeline, while twenty-five lawmakers voted against the move.
read more... 11/03/2013