Latest news
Statoil makes new discovery near Oseberg
Norway’s Statoil ASA has discovered oil and condensate in the North Sea’s Krafla West prospect. Located around 26 kilometers south-west of the producing Oseberg South find, the discovery well encountered hydrocarbons in two columns with a total thickness of 300 meters.
read more... 01/07/2011
IEA announces the proportion of oil release
Last week, the IEA announced that it will release 60 million-barrel of oil from its strategic reserves after consumer nations unsuccessfully exerted pressure on the Organization of the Petroleum Exporting Countries to increase its oil production at a meeting this month.
read more... 28/06/2011
Iran to keep opposing any rise in OPEC production quotas
Iran, OPEC's second biggest crude producer continues opposing an increase in oil production and favoring high oil prices, according to Iranian oil minister statements on Sunday.
read more... 27/06/2011
Russian government seeks offshore oil spill funds
The Russian Prime Minister Vladimir Putin proposed on Wednesday a bill that would require the Russian companies engaged in the exploration of crude seeking to obtain offshore extraction licenses, to set apart financial reserves which could be used in case of an eventual oil spill.
read more... 24/06/2011
Bulgaria to freeze the construction of trans-Balkan pipe
According to the Environment Ministry declarations, Bulgaria has rejected for a third time the report on environmental impact assessment of the Bourgas–Alexandroupolis oil pipeline, aimed to pump Russian crude oil to Greece via Bulgarian territory.
read more... 24/06/2011