Latest news
Oil giant BP could face 29 million dollars fine
The Federal Energy Regulatory Commission proposed to fine oil giant BP Plc with fines of about 29 million dollars and has ordered to BP to respond to accusations of natural gas market at the Houston Ship Channel manipulation, from mid-September to November in 2008, in a way designed to increase the value of the company’s financial position. The claims followed an investigation by officials from the regulator’s Office of Enforcement (OE). The allegations date back in 2011.
read more... 06/08/2013
UK unveils GBP 10 billion of financial guarantees for Hinkley Point nuclear reactor
The UK government has announced its initiative to encourage investment in nuclear power by offering 10 billion pounds (GBP) (15.2 billion US dollars, 11.6 billion euros) of financial guarantees to French generator EDF for the construction of a new nuclear plant at Hinkley Point.
read more... 02/07/2013
BP: Global energy demand is slowing
In its annual analysis of the world energy market, the energy company BP PLC said growth in energy consumption slowed last year because of the economic recession.
read more... 13/06/2013
Three oil majors subject to EU raids over price manipulation
European anti-trust authorities have conducted unexpected raids at offices of at least three oil majors Shell, BP and Statoil, being suspected of manipulation in global oil prices over a decade, marking one of the biggest international actions since the Libor rigging scandal which shook the markets.
read more... 15/05/2013
Oil production of five main international oil companies decreased 25% since 2004
Crude oil production of Exxon, BP, Shell, Chevron and Total has fallen by 25.8% over the past twelve years, after beating an historic high in 2004 when total combined crude production reached 10.76 million barrels a day. The production has fallen despite huge growth in their investments, allowed by the significant increase in crude oil prices practiced since late 2000.
read more... 22/04/2013