Latest news
OPEC criticizes IEA for inconsistent oil supply view
The International Energy Agency (IEA) accused the OPEC of intentionally hesitated to boost the output of oil in order to maintain a higher level of oil prices. At the same time, OPEC criticizes the agency for providing inconsistent oil price view.
read more... 19/01/2011
Shell follows the exploration of South Africa’s Karoo basin
Bulgaria has to meet the EU target of 1250MW (which represents 16 %) of energy generation from renewable sources by 2020.
read more... 19/01/2011
BP and Rosneft sign offshore exploration agreement
European oil giant BP has concluded a deal with Rosneft, Russia's largest oil producer, to develop the Arctic's vast oil and gas fields. The agreement provides the development of three of Rosneft's offshore license exploration blocks-- EPNZ 1,2,3 in northern Russia.
read more... 18/01/2011
Shell to give up about 20 % of its stake in CSPC to gain 30 % stake of CNOOC Refinery
The reporters from China Daily newspaper announced on Tuesday that the oil giant, Royal Dutch Shell is negotiating to acquire a 30 % stake in a refining project. The project belongs to China National Offshore Oil Corporation (CNOOC) and requires about $ 7.5 billion of investments.
read more... 14/01/2011
OPEC should not convene an emergency meeting.
OPEC, the producer of 40 percent of the world's oil, doesn't need to gather for an emergency meeting to discuss any further reduction in oil production even if the price of crude oil hits $90 a barrel, Iran’s OPEC governor said.
read more... 13/01/2011