Latest news
OPEC output drops in March
According to a survey released by Platts, the 12-member Organization of the Petroleum Exporting Countries' (OPEC) crude oil output dropped in March by 630,000 barrels per day to 29.17 million b/d, following the loss of 930,000 b/d of Libyan production and the failure of Saudi Arabia’s supply to face the decline in Libyan.
read more... 15/04/2011
Statoil began oil production at Peregrino field in Brazil
Norwegian oil company Statoil announced on Thursday that it has discovered a significant oil reserve at its Peregrino field in Brazil and started oil production last week having the goal to become the second-largest operator there, after Petrobras.
read more... 15/04/2011
Eni to acquire stakes in Ukraine’s Cadogan Petroleum
Cadogan Petroleum, an oil and gas company operating in Ukraine announced yesterday that it has inked with the major Italian energy firm Eni a strategic agreement for the acquisition of an interest in the company's Pokrovskoe and Zagoryanska licenses in the east of Ukraine, both licenses being located in the Dniepr-Donetz basin.
read more... 14/04/2011
TNK-BP plans to sue BP seeking $10 billion in damage
Russia's half of the TNK-BP joint venture intends to take proceedings against BP pretending the giant broke the joint venture's shareholder agreement. According to the sources close to TNK-BP, the company’s management will seek multibillion-dollar damage, equivalent to $10 billion, claiming it lost the opportunity to explore the Russian Arctic because of BP's actions.
read more... 13/04/2011
Ratification of the Russian-Norwegian border agreement
Russian President Dmitry Medvedev signed on April 8 the ratification of the agreement with Norway on Maritime Delimitation and Cooperation in the Barents Sea and the Arctic Ocean.
read more... 12/04/2011