Latest news
BP is expanding its shale gas business in China
BP has announced on Thursday that it has signed a second contract for shale gas exploration, development and production with China National Petroleum Corp (CNPC). Earlier this year, the two companies signed their first shale gas production-sharing contract (PSC) on the adjoining Neijiang-Dazu block.
read more... 02/09/2016
Daily: British wholesale gas prices down on an oversupplied market
On Thursday, oil prices registered a decrease of more than 3 percent, their biggest decline in a week since January (almost 9 percent), as investors have put aside rumors about a possible production freeze from OPEC, and focused on an unexpected big increase of US crude inventories. Brent crude prices have settled down $1.44 at $45.45 per barrel, or 3.38 percent. U.S. crude's West Texas Intermediate (WTI) futures fell $1.54 or 3.45 percent at $43.16 a barrel.
read more... 02/09/2016
Iran intends to increase oil production to 4.7 million barrels per day
According to Mansour Moazami, deputy minister of Industry, Mine and Trade of Iran, as well as former managing-director of the National Iranian Gas Company, Iran intends to raise daily crude production from its current level of 3.8 million barrels to 4.75 million barrels, as the country needs to promote its strategic role with the introduction of new policies.
read more... 01/09/2016
Italy's Edison in talks with Russian Gazprom over ITGI Poseidon gas pipeline
Russia’s energy gyant Gazprom and Italy’s Edison have held talks over the organization of the southern route of Russian natural gas deliveries to Europe via the ITGI Poseidon gas pipeline route (Turkey-Greece-Italy interconnector pipeline project) related to the resumption of the Turkish Stream project.
read more... 01/09/2016
Egypt inks natural gas cooperation contract with Cyprus
Energy Minister George Lakkotrypis and the Egyptian Minister of Petroleum and Mineral Resources, Tarek el Mola, signed today a deal regarding the transfer of natural gas via pipeline from Cyprus Exclusive Economic Zone to Egypt through a direct undersea pipeline. This agreement is described as an essential as it is expected to place Cyprus in a competitive regional gas export infrastructure and help the island to cooperate with key players in the region such as Egypt.
read more... 31/08/2016