Latest news
Iranian oil embargo may trigger an economic recession in Europe
According to the CNBC reports, analysts warned on Friday that oil prices could significantly increase and they would be difficult to keep under control if the European Union will follow the U.S. in banning Iranian oil imports.
read more... 09/01/2012
South Korea to invest about $12 bln in oil and gas development
South Korea announced its plans to invest 11.8 billion U.S. dollars in developing oil and natural gas resources in 2012 as a part of country efforts to guarantee a stable supply of energy for economic and industrial growth, the economy ministry declared on Wednesday.
read more... 22/12/2011
CNOOC: a subsea leakage in Zhuhai terminal
China's offshore oil and gas producer CNOOC reported a leak in a subsea pipeline at its Zhuhai Henggin gas processing terminal in South China's Guangdong province, prompting the halt of some platforms at the Pangyu 30-1 and Huizhou 21-1 fields.
read more... 20/12/2011
TNK-BP to invest $10bn in Arctic oil fields
Russian oil company TNK-BP, 50 % owned by BP, will invest up to $10 billion in Arctic oil field development and construction of a pipeline, enabling thus the export of its reserves to Chinese markets by 2016.
read more... 15/12/2011
IEA: oil market to be more balanced in 2012
According to the most recent monthly report released by International Energy Agency (IEA), the global oil demand is expected to fall in 2012 on the worsening global economic background and persistently increased oil prices, fact that will help balance oil markets next year.
read more... 13/12/2011