Latest news
EIA: US oil production to increase by 25% by 2014
According to the Energy Information Administration, the US oil production will grow by a quarter in the next two years, to its highest level in 26 years. The US oil production would grow by 900,000 barrels per day (bpd) in 2013 to 7.3 million bpd. The reason of the increase in oil production is mainly because of the discovery of vast reserves of shale oil.
read more... 10/01/2013
The Eastern Siberia – Pacific Ocean pipeline records 30mln tons in delivery
A representative of the Chinese Petrochina company has announced that the Siberia-Pacific Ocean pipeline which delivers oil from Russia to China has transported about 30 million tons of crude oil since it starts operating on January 1, 2011. The pipeline is considered as a key-project in the energy cooperation between Russia and the Asian country.
read more... 02/01/2013
Lukoil - the winner of three Siberian oil fields auction
Lukoil, the country's second-biggest oil producer by output, won at an auction for three Siberian oilfields.
read more... 26/12/2012
Norwegian oil giant Statoil to invest $7bn in North Sea project
Norway’s Statoil will develop a $7bn (£4.3bn) North Sea oil field, the largest offshore development in the UK in more than 10 years.
read more... 25/12/2012
Saras and Rosneft to form a joint venture for trading and processing crude oil
Saras SpA, one of Italy's biggest oil refiners by capacity, and Russia's largest crude producer Rosneft will form a joint venture for the trading and processing of crude oil and the selling of petroleum products.
read more... 19/12/2012