The energy giant British Petroleum (BP) is expected to unveil a big loss in its 2012 profits on Tuesday.
read more... 04/02/2013
UK is expecting to give the green light for the exploration of 28 new oil and natural gas projects offshore in 2013, amid the increased untapped resources in the North Sea, declared British Energy Secretary Ed Davey.
read more... 01/02/2013
The Organization of Petroleum Exporting Countries (OPEC) is forecasting that the demand for its crude to slash because of an ample production from main competitors, showing that the inventories could significantly bolster despite a massive cut in output by top exporter Saudi Arabia.
read more... 17/01/2013
An important oil pipeline network, which handles about 6% of UK’s oil production, was forced to halt its production following a leak at a key North Sea oil platform. The shutdown was confirmed by Abu Dhabi National Energy Co (TAQA) on January 14, at one of its platforms in the UK North Sea.
read more... 16/01/2013
Turkey has surpassed Norway as the largest oil producer of Europe, increasing the number of its drilling rigs to 34 rigs in comparison to 26 at the end of last year.
read more... 11/01/2013