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Russia’s oil output hits new record in 2012
Russia’s oil output hits new record in 2012, to a new post-Soviet high of 10.37 million barrels per day due to an increase in production at Rosneft. Russia had established its previous post-Soviet record in 2011, when the production amounted to 10.28 million barrels per day. According to the International Energy Agency, Russia's oil output hit the highest level at 11.41 million bpd in 1988, when it was part of the former Soviet Union and it accounted about 90 % of total Soviet oil output. This new record confirms Russia as the biggest oil producer in the world.
read more... 03/01/2013
Daily: Brent crude oil up on the agreement approved by the Congress to prevent a fiscal crisis
After the U.S. Congress has approved an agreement to prevent a fiscal crisis, both Brent and U.S. crude oil were up, with Brent which has reached a one-month high, arriving at $112 per barrel on Wednesday at the same time as U.S. crude oil was up by 90 cents to 92.72 dollars a barrel. During the month, WTI increased by 3.3% while Brent oil declined by 0.1%.
read more... 02/01/2013
The Eastern Siberia – Pacific Ocean pipeline records 30mln tons in delivery
A representative of the Chinese Petrochina company has announced that the Siberia-Pacific Ocean pipeline which delivers oil from Russia to China has transported about 30 million tons of crude oil since it starts operating on January 1, 2011. The pipeline is considered as a key-project in the energy cooperation between Russia and the Asian country.
read more... 02/01/2013
Daily: European power at 3-year lows dragged down by weak spot
Brent and U.S. crude oil futures declined on Thursday in thin, choppy trading as unresolved U.S. budget talks left open the possibility that mandated tax hikes and spending cuts could be enacted, which could drag the top oil-consuming economy into recession. Meanwhile, Brent February crude dipped 27 cents, or 0.24 percent, to settle at $110.80 a barrel, having traded from $110.10 to $111.33. U.S. February crude eased 11 cents, or 0.12 percent, to settle at $90.87 a barrel, having traded from $90.05 to $91.44.
read more... 28/12/2012
Chevron unveils two gas discoveries offshore Western Australia
Oil and gas giant Chevron reported two new gas discoveries in the Exmouth Plateau area of the Carnarvon Basin, a hydrocarbon basin offshore Western Australia.
read more... 28/12/2012