Latest news
Total announces new oil discovery in North Sea
The French operator Total announces that it has made an oil discovery in the Garantiana prospect located in the Norwegian North Sea, which is expected to contain 25 million to 75 million barrels of recoverable oil and is situated 185 kilometers northwest of Bergen and 30 kilometers northeast of the Visund Field, at water depths of 384 meters.
read more... 04/12/2012
China will cut fuel prices
China announced on Thursday cuts to fuel prices, introducing additional stimulus into the world's second-largest economy, which has shown signs of recovery in latest months. The Asian country will cut gasoline and diesel prices by 310 Yuan ($49.75) and 300 Yuan a metric ton, effective from Friday, has announced the National Development and Reform Commission, the country's top economic planning body.
read more... 16/11/2012
Statoil shuts Troll C platform, hitting 120,000 barrels per day oil output
Norwegian energy giant Statoil has recently shut its significant Troll C oil and gas platform in the North Sea because of corrosion found in the auxiliary system for gas treatment, slashing Norway’s oil production by around 8 percent.
read more... 16/11/2012
China: Oil demand to rise as the economic growth picks up
In the fourth quarter China’s demand for oil is likely to increase significantly in comparison to the last two years, as the second-biggest crude consumer in the world is showing signs that the country’s economic growth begins to pick up.
read more... 12/11/2012
Rosneft sees its profit doubling in third quarter ahead the TNK-BP acquisition
Russia’s oil giant Rosneft beat expectations by doubling quarterly profits to $5.8 billion prior to its controversial $61 billion acquisition of the private rival TNK-BP.
read more... 09/11/2012