Latest news
OPEC: World oil demand is likely to stabilize in 2012, downsizing risks for 2013
The Organization of Petroleum Exporting Countries (OPEC) has recently announced a slight boost to its global oil demand forecast for 2012 and 2013.
read more... 13/08/2012
U.S. imposes new tighter sanctions on Iran’s oil
Obama administration has unveiled new sanctions against foreign banks, as well as on firms that help Iran sell its oil, as Iran is refusing to answer international questions about its nuclear program.
read more... 02/08/2012
Nord Stream pipeline is ready to become operational
The second underwater gas pipeline of Nord Stream has been successfully completed, ahead of the schedule. The 1,224 km offshore pipeline will join the onshore landing between Russia and Germany in August. This second line is expected to become operational in the last quarter of this year.
read more... 11/07/2012
Iran’s oil exports slump by half in July
The international sanctions regime has sharply cut Iranian oil exports almost by half in July, being the biggest supply disruption from a member of the OPEC since an armed conflict last year in Libya.
read more... 06/07/2012
EU oil ban on Iran came into force
The UN Security Council, which comprises 5 permanent members and one non-permanent, has imposed a number of restrictions aimed to punish Iran over its nuclear program, being the most stringent and drastic oil embargo put ever on Iran’s oil industry.
read more... 03/07/2012