According to the Libyan interim oil and finance minister, the war-hit Libya is gradually resuming its production, which has now reached 500,000 barrels due to Sharara field resuming operation, which belongs to the Spanish oil group Repsol.
read more... 26/10/2011
The British oil giant, BP announced its decision to sell off some $15bn (£9bn) of its assets following the Gulf of Mexico spill which took place last year, as BP engaged to pay increased returns to shareholders and to boost cash flow by 50% by 2014.
read more... 26/10/2011
The Russian giant, Gazprom Oil alongside its Investment Program unveiled its plans to upgrade its refineries before 2018.
read more... 25/10/2011
The British oil giant, Europe's second-biggest oil company, was given the green light to perform a huge investment, of £4.5bn, in the North Sea oil field, this being the company’s biggest annual investment made in the U.K.
read more... 24/10/2011
In August this year, Statoil discovered a huge quantity of oil in the North Sea fields, with recoverable reserves estimated between 500 million to 1.2 billion barrels.
read more... 20/10/2011