Deputy Energy Minister, Kirill Molodtsov, declared that Russia is likely to increase its oil production by 0.3% to 525 million tons in 2014, about 10.54 million barrels per day, which could be the highest level Russia has attained since the collapse of the Soviet Union. The significant growth was attributed to changes in tax law, which has stimulated development of new fields and hard-to-recover reserves.
read more... 14/02/2014
Brent crude oil futures decreased on Thursday, dragged down by a forecast showing a decline in demand during refinery maintenance season and an increase in jobless claims in the United States, the greatest oil consumer in the world.
read more... 14/02/2014
France might be interested in testing a new technique of shale gas extraction with non-flammable propane, which has still to be confirmed as a secure and efficient one. Even though the exploitation of shale gas is prohibited in France, the Minister for Industrial Renewal, member of President Francois Hollande's Socialist Party, Arnaud Montebourg, has recently announced that he is in favor of extracting shale gas with the help of a new method of extraction, an experimental type of “clean fracking” which employs fluoropropane.
read more... 13/02/2014
Brent crude oil recorded a slight increase on Tuesday, backed by demand for U.S. heating oil and gasoline amid an intense cold snap in the United States.
read more... 12/02/2014
British Gas former monopoly is under threat to be split up to put a cap on excessive profit margins charged by UK’s largest gas supplier, according to a declaration made by Energy Secretary Ed Davey.
read more... 12/02/2014