Latest news
BP to register a drop in its profit
BP registered a drop in its profit higher than expected because of weaker production prompted by the need to sell oil fields in order to pay for the disaster occurred in the Gulf of Mexico.
read more... 01/05/2012
Total posts a 5% drop in Q1 adjusted net income
France’s largest oil company Total has posted a $217 million decline in its first quarter adjusted net income, down 5% compared to the first quarter of 2011, mainly due to flat oil and gas production rates and a drop in European demand for petrochemicals.
read more... 30/04/2012
Iraq plans to triple its oil production in six years
Iraq, the producer of more than three million barrels of crude oil per day, is expecting to increase its capacity of production to more than 10 million barrels per day within the next six years, Iraqi Deputy Prime Minister for Energy said at a special briefing in Washington.
read more... 25/04/2012
EU and Japan cut Iranian oil imports in April
European buyers of Iranian oil are making significant cuts in supply months in advance of European Union sanctions on Iran crude effective from July, trimming their April imports by 75,000 barrels per day (bpd).
read more... 20/04/2012
Iran halts oil supplies to Spain
Iran has cut oil supplies to Spain and it is possible to suspend exports to Germany and Italy, according to official Iranian television in English, PressTV reported Tuesday.
read more... 11/04/2012