Latest news
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Vitol boss warns of oil supply 'gap' in 2025-2035 as upstream spending ebbs
The world faces a potential global oil supply shortage over the coming decade as the pullback from fossil fuels project by parts of the industry creates a gap with expected demand, Russell Hardy, CEO of commodity trader Vitol, said June 15.
read more... 16/06/2021
Rosneft begins hunt for contractors for massive Vostok Oil project
Rosneft has kicked off meetings with foreign contractors and suppliers for its massive Vostok Oil project, the Russian energy producer said on Monday.
read more... 08/06/2021
Russia Has Oil Reserves At Least Until 2080
Russia’s oil reserves will last until 2080 at the current pace of annual production, Natural Resources Minister Alexander Kozlov told Russian outlet RBC in an interview this week.
read more... 17/05/2021
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OPEC+ sticks to plan to ease crude oil output cuts from May 1
OPEC, Russia and their allies will stick to plans for a phased easing of oil production restrictions from May to July amid upbeat forecasts for a recovery in global demand and despite surging coronavirus cases in India, Brazil and Japan.
read more... 28/04/2021
New oil and gas discovery in the Norwegian Sea
Recoverable resources so far have been estimated at between three million and 4.2m standard cubic metres of oil equivalent
read more... 23/04/2021