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China surpassed the United States as the world’s top oil importer
China has surpassed the United States as the world’s biggest net importer of oil after, the U.S. posted its lowest import records since 1992 on the back of flourishing domestic oil production. According to provisional figures from the US Energy Information Administration US net oil imports dropped to 5.98m barrels a day in December, the lowest since February 1992, while China’s own figures rose to 6.12 million bpd.
read more... 06/03/2013
EU to get its first oil and gas law
The EU proposed on Thursday its first law to regulate safety in offshore oil and gas drilling which aims to ensure that world's highest safety, health and environmental standards are implemented across the EU, in order to prevent any repeat of BP's catastrophic Gulf of Mexico spill.
read more... 25/02/2013
EIA: US oil production expected to increase in 2013
U.S. crude oil production is expected to increase by an unprecedented level - 815,000 barrel per day to 7.25 million barrels per day in 2013, according to a report by the Energy Information Administration.
read more... 21/02/2013
Statoil to build a new oil hub in Europe
Norway's Statoil is to build an oil terminal in the Arctic, which according to the Norwegian group could spark “a new industrial era” in the region. Norway's Minister of Petroleum and Energy, Ola Borten Moe said that Statoil ASA's plan to bring oil by pipeline from the Barents Sea to a new terminal in the country's far north could lead the way to a permanent oil hub in the Arctic.
read more... 19/02/2013
2012: Record year for Italian Eni
Italian oil and gas company Eni had a record year for exploration in 2012 with discovered resources of about 3.64 billion barrels of oil equivalent. Meanwhile, proved reserves were at an eight-year record by the end of 2012 at 7.7 Billion barrels of oil equivalent.
read more... 18/02/2013