Latest news
Oil price drops to $76 for the second day consecutively
Oil price decreased for the second day consecutively on Wednesday, since the biggest Canada-US crude pipeline has been prepared to restart by the end of the week, according to Enbridge, which is in the process of finalizing repairs on the duct.
read more... 16/09/2010
Russian crude export duty might decline 3 percent in October
According to the Finance Ministry data and Reuters calculations, oil export duty for October in Russia may drop about 3 percent to between $265 and $267 per tonne following the decline in crude prices during the second half of August.
read more... 14/09/2010
Oil production in Norway dropped in August
Oil production in Norway dropped on average from 1.800 million barrels in July to 1.619 million barrels per day in August, as stated by Norwegian Petroleum Directorate on Friday.
read more... 13/09/2010
Exploration assets sold by Petrom in Russia
The major oil and gas group in Romania, Petrom, owned mostly by Austrian OMV, sold 75% of exploration assets in Ring Oil to its minority partner Mineral and Bio Oil Fuels Limited in Russia, since it focuses mainly on the Romanian and Kazakh activities. The total value of the transaction was not disclosed.
read more... 07/09/2010
U.S. crude inventories increase more than estimated
Last week, US crude inventories increased by 4.8 million barrels, much more than estimated, or 1.1 million barrels, whilst the stocks of the products dropped, as stated by American Petroleum Institute on Tuesday.
read more... 02/09/2010