Latest news
China surpassed the United States as the world’s top oil importer
China has surpassed the United States as the world’s biggest net importer of oil after, the U.S. posted its lowest import records since 1992 on the back of flourishing domestic oil production. According to provisional figures from the US Energy Information Administration US net oil imports dropped to 5.98m barrels a day in December, the lowest since February 1992, while China’s own figures rose to 6.12 million bpd.
read more... 06/03/2013
Supply problems in world oil market
A number of real and threatened supply problems are helping support oil prices this year, despite a weakening outlook for the world economy and slower growth in global fuel demand. More than 1 million barrels per day (bpd) of supply is estimated to be offline - 1.1% of daily world demand - including Libyan output yet to return to service.
read more... 26/02/2013
EU to get its first oil and gas law
The EU proposed on Thursday its first law to regulate safety in offshore oil and gas drilling which aims to ensure that world's highest safety, health and environmental standards are implemented across the EU, in order to prevent any repeat of BP's catastrophic Gulf of Mexico spill.
read more... 25/02/2013
BP to announce a dramatic fall in profits amid Gulf of Mexico court case and terrorist attacks
The energy giant British Petroleum (BP) is expected to unveil a big loss in its 2012 profits on Tuesday.
read more... 04/02/2013
Italy could face an additional cost of about €1 bn for energy
After the last week conflict in Algeria, when Islamic militants attacked a complex controlled by BP PLC, Norway's Statoil ASA and Algeria's state energy company Sonatrach, Italy could face an additional cost of almost 1 billion euro (£839m) per year for energy, because of the interruption of Algerian gas supplies.
read more... 25/01/2013