Latest news
Libyan oil output reaches 500,000 bpd
According to the Libyan interim oil and finance minister, the war-hit Libya is gradually resuming its production, which has now reached 500,000 barrels due to Sharara field resuming operation, which belongs to the Spanish oil group Repsol.
read more... 26/10/2011
BP to change its strategy on lower production
The British oil giant, BP announced its decision to sell off some $15bn (£9bn) of its assets following the Gulf of Mexico spill which took place last year, as BP engaged to pay increased returns to shareholders and to boost cash flow by 50% by 2014.
read more... 26/10/2011
BP makes biggest investment in North Sea history
The British oil giant, Europe's second-biggest oil company, was given the green light to perform a huge investment, of £4.5bn, in the North Sea oil field, this being the company’s biggest annual investment made in the U.K.
read more... 24/10/2011
Daily – oil up on strong decrease in US stockpiles
American crude stocks decreased last week versus increase in imports, announced American Petroleum Institute on Tuesday. Crude imports eased 337,000 barrel per day to 8.94 million bpd. Gasoline stocks decreased 1.6 million barrel, more than the 1.3 million barrel predicted by analysts, while distillate went down 2.2 million barrels, against analysts forecast about a 1.5 million barrel drop.
read more... 19/10/2011
Four energy majors in a huge North Sea investment
The UK oil giant, BP, alongside its partners Chevron, ConocoPhillips and Shell have won the British government approval to invest US$15.7 billion (GBP10 billion) in the development of a huge oil field in the North Sea over the next five years.
read more... 17/10/2011