Latest news
China: CNOOC net profit jumps 29% in 2011
China National Offshore Oil Corporation Limited (CNOOC), the country’s top offshore oil producer, announced a 29% jump in its 2011 profit, posting a record-high of 70.26 billion yuan (11.17 billion U.S. dollars), compared with 54.41 billion yuan in the previous year, mainly due to increasing oil and gas prices.
read more... 29/03/2012
France to join UK-US cooperation on a strategic oil release in a bid to cut prices
France is considering joining UK-U.S. cooperation on a possible release of strategic oil stocks, move that will help slash oil prices, according to French Energy Minister Eric Besson.
read more... 28/03/2012
Italy: Eni allowed to import Iranian oil despite EU oil embargo
Eni, Italy’s oil and gas giant, has received a special exemption from the sanctions which would allow the company receiving Iran’s crude despite EU embargo on Iranian oil, the company’s CEO Paolo Scaroni told the reporters on Friday.
read more... 26/03/2012
BP gets green light to drill a new deep water-well off Shetland
The British oil major BP has been given the green light to drill a new deep water oil well in Scottish waters off the northwest of Shetland, according to the information provided by the Department of Energy and Climate Change (DECC).
read more... 26/03/2012
Ireland finds the first viable oil field
Irish exploration company Providence Resources has recently announced that it has found the Republic’s first viable oil field at 70 km off the Cork coast.
read more... 20/03/2012