Latest news
UK government offers new 167 oil and gas exploration licenses in North Sea
The UK Department of Energy and Climate Change (DECC) has offered 167 new oil and gas licenses to companies under the 27 Licensing Round, following a record level of interest by oil companies.
read more... 26/10/2012
IEA: Oil prices to fall over the next 5 years
The International Energy Agency has predicted that oil prices will significantly drop to 89 dollars per barrel by 2017 from the current level, due to slow economic growth and problems in the euro zone.
read more... 25/10/2012
Iran is threatening to crude oil exports on sanctions intensification
Iran is threatening to stop definitively oil exports to the world if sanctions from Western countries become more stringent. Sanctions against the Iran have become tighter as the United States and other nations attempt to force Iran to stop developing its nuclear energy program, while Tehran says its nuclear plans are peaceful.
read more... 24/10/2012
Shell and Exxon Mobil to develop a huge North Sea field
The two oil giants, including Shell and Exxon Mobil, have received the final approval from the Department of Energy and Climate Change (DECC) for the development of a huge project in the North Sea, involving the development of Fram oil and gas field, 136 miles east of Aberdeen, which was described as one of the most significant central North Sea developments for more than a decade and among the largest planned for UK waters.
read more... 23/10/2012
BP in talks with Rosneft over a £ 17 billion deal
British oil company BP confirmed that it is in advanced talks about selling its stake in TNK-BP to Rosneft, Russia’s state-controlled oil company. The deal has yet to be approved, even if BP confirmed that it was in “advanced discussions” with Rosneft concerning the sale of its 50 % stake in TNK-BP.
read more... 22/10/2012