Latest news
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
Gazprom Oil to upgrade its refineries before 2018
The Russian giant, Gazprom Oil alongside its Investment Program unveiled its plans to upgrade its refineries before 2018.
read more... 25/10/2011
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
North Sea field hides more oil than predicted
In August this year, Statoil discovered a huge quantity of oil in the North Sea fields, with recoverable reserves estimated between 500 million to 1.2 billion barrels.
read more... 20/10/2011
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