Latest news
Polish government-run PGNiG consolidates its position in Norway
Polish government-run PGNiG (Polish Oil and Gas Company) has acquired a share in the Storklakken oil field which was discovered in 2010 by Aker BP ASA. The deal is carrying out PGNiG’s strategy in increasing hydrocarbon production outside Poland.
read more... 24/03/2017
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Leading oil companies ready to spend money in Gulf of Mexico bidding
European Royal Dutch Shell plc, American Chevron Corp and Exxon Mobil Corp have announced the oil industry's return to the Gulf of Mexico's deep waters with greater bids in a government auction up 76 % over a year ago.
read more... 23/03/2017
Russia keeps the world oil leading position in January
Russia maintained the leading position as the world biggest oil producer in January - for a second month in a row, as stated by official data.
read more... 22/03/2017
EU legislators give the green light for Arctic oil exploration
European lawmakers voted against a non-binding motion to prohibit oil and gas exploration in the Arctic.
read more... 17/03/2017
IEA report: Oil demand likely to reduce in 2017, non-OPEC countries seen rising production
The demand for oil is anticipated to decrease from 1.6 million barrels a day in 2016 to 1.4 million barrels a day in 2017 which will add more issues for the producers while they could try to increase prices, as indicated in the International Energy Agency report published earlier this week, based on the early 1st quarter indicators showing slowdowns in Japan, Germany, Korea and India in January 2017.
read more... 16/03/2017