Statoil ASA, Norway’s largest oil and natural gas company is aiming to spend about $3 billion for the completion of approximately 40 wells during 2012, following its plans to raise production to 2.5 million barrels of oil equivalent a day in 2020, as it expands abroad and seeks to maintain production at home.
read more... 09/02/2012
The British super major BP recorded an improved quarterly profit this week, being the first time in a year when he has beaten the profits of its rival, Royal Dutch Shell.
read more... 07/02/2012
The EU sanctions imposed on oil imports from Iran could drive to the closure of some Italian oil refineries, which are the most vulnerable refineries to closure in Europe, according to European oil industry sources.
read more... 06/02/2012
The world oil prices could hit $150 a barrel due to the European Union ban on imports of Iranian crude, the Iran’s deputy oil minister declared on Sunday.
read more... 02/02/2012
Obama administration has decided to put a new lease of sale in the Gulf of Mexico with around 7250 offshore blocks for oil and gas exploration.
read more... 30/01/2012