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Petroleum products consumption increased worldwide
The world’s consumption of petroleum products such as gasoline, diesel fuel, jet fuel, heating oil, and other products reached a record high last year, even if there was a decline in consumption in North America and Europe. According to the Energy Information Administration, in 2012 the world consumed about 88.9 million barrels of petroleum products per day.
read more... 30/08/2013
UK oil and gas industry received record levels of investments
Trade body Oil & Gas UK, has recently released a new report according to which investments the North Sea are the highest in the last 30 years and continues to rise. It has revealed that investments in the UK Continental Shelf projects reached little more than £11 billion last year, and this figure is likely to rise by a further £2 billion this year.
read more... 22/08/2013
Rosneft and SOCAR to seal oil and gas cooperation deal
Russian crude oil giant, Rosneft on Tuesday sealed an oil and gas deal with Azerbaijan's state energy firm, SOCAR.
read more... 15/08/2013
China on track to become world’s biggest oil importer
China is on track to become the world’s largest importer of crude oil, surpassing the U.S. for the first time. In the first 7 month of this year, China’s crude oil imports have already risen 1.4 % to 164 million tons. China is already the biggest energy consumer in the world and the second-largest oil consumer after the United States.
read more... 13/08/2013
IEA: global oil demand growth to slow in 2014
In its most recent Oil Market Report, the IEA has reduced its 2014 growth estimates for oil demand by 100,000 barrels per day, down to 1.1 million barrels per day, due to weaker than expected economic growth.
read more... 12/08/2013