Latest news
Russia to curb oil supplies to Belarus by 40% as the dispute escalates
Russia will cut oil pipeline deliveries to Belarus by 42% in the fourth quarter under an export schedule unveiled on Tuesday. The decision came amid a dispute over the arrest in Minsk of a Russian businessman, the head of the Russian potash company Uralkali.
read more... 18/09/2013
Energy- hungry China to invest $13.07 billion in oil and gas exploration in 2013
China is expected to invest 80 billion yuan ($13.07 billion) in oil and gas exploration until the end of 2013, as it pledges to increase energy supplies and to curb its dependence on energy imports, according to the Ministry of Land and Resources.
read more... 17/09/2013
Italy to halve offshore exploration areas
According to a Reuters report Italy has halved the offshore areas where it will allow companies to explore for oil and gas as it is aiming to diminish the country’s reliance on energy imports. The move is projected to placate environmental groups and to hasten expansion of new deep-water prospects.
read more... 05/09/2013
A U.S. strike in Syria would increase significantly oil prices
According to some energy market experts, oil prices could increase significantly if the U.S. atacks Syria. Analysts from the bank Societe Generale suggest the price could eventually increase to $125 if air strikes are launched, and $150 per barrel if the military action interrupts production in the region.
read more... 04/09/2013
China could soon become the biggest oil importer in the world
According to new figures from the U.S. Energy Information Administration, China could surpass the U.S. as the world’s largest net oil importer before the end of this year. EIA projects that total annual oil production in the USA will increase 28% in the period from 2011 to 2014, lessening the country’s reliance on foreign oil.
read more... 03/09/2013