Latest news
China: Oil demand to rise as the economic growth picks up
In the fourth quarter China’s demand for oil is likely to increase significantly in comparison to the last two years, as the second-biggest crude consumer in the world is showing signs that the country’s economic growth begins to pick up.
read more... 12/11/2012
Rosneft sees its profit doubling in third quarter ahead the TNK-BP acquisition
Russia’s oil giant Rosneft beat expectations by doubling quarterly profits to $5.8 billion prior to its controversial $61 billion acquisition of the private rival TNK-BP.
read more... 09/11/2012
Italy plans to increase its crude oil production by 150%
The Italian government plans to boost the oil and gas industry, as part of its first national energy plan in more than 20 years and one of the major parts of this plan is development of the Tempa Rosa oil field in southern Italy.
read more... 06/11/2012
Royal Dutch Shell: 15% drop in Q3 profits on lower oil prices
World No.2 oil company Royal Dutch Shell registered a 15 per cent decline in current cost of supply profits in the third quarter, dragged down by lower crude prices, a fall in output and special charges outweighed stronger margins in refining.
read more... 05/11/2012
Cyprus awards four offshore gas exploration licenses
Cyprus government announced that it awarded four provisional licenses for gas exploration in offshore blocks as part of the second licensing round launched in February.
read more... 02/11/2012