Latest news
China to review offshore oil regulations
China is considering reviewing regulations on joint offshore oil exploration with foreign companies despite the fact that Beijing did not expressed any decision on oil spill at ConocoPhillips.
read more... 07/11/2011
Statoil Q3 net profit down by 25 %
The Norwegian oil company, Statoil announced a drop of its profit by 25 percent in the third quarter, mainly due to increased production costs and a higher tax rate.
read more... 31/10/2011
Royal Dutch Shell doubles its profit on higher oil prices
The British energy major, Shell reported that its net profits doubled to $7.03 billion in the third quarter from $3.5 billion a year earlier due to higher oil prices, soared oil demand and stronger refining margins.
read more... 28/10/2011
Libyan oil output reaches 500,000 bpd
According to the Libyan interim oil and finance minister, the war-hit Libya is gradually resuming its production, which has now reached 500,000 barrels due to Sharara field resuming operation, which belongs to the Spanish oil group Repsol.
read more... 26/10/2011
BP to change its strategy on lower production
The British oil giant, BP announced its decision to sell off some $15bn (£9bn) of its assets following the Gulf of Mexico spill which took place last year, as BP engaged to pay increased returns to shareholders and to boost cash flow by 50% by 2014.
read more... 26/10/2011