Latest news
Daily (30.10.2019): NBP spot dipped by 4.7% on Tuesday due to low demand and firm supplies
Crude oil prices diverged slightly on Tuesday. Brent crude was almost flat at $61.59 a barrel amid signs that U.S.-China trade differences might temper in November and on expectations for a draw in the U.S. refined product inventories. In the meantime, predictions of a rise in the U.S. crude stocks and Russia’s reserved outlook for a potential crude output extension by OPEC+ pushed WTI futures 0.5% lower at $55.54 a barrel.
read more... 30/10/2019
Discovery Of 1 Billion Tons Of Reserves In Gangsu Oil Field Boosts Industry Confidence
China's scaling up of its oil and gas detecting and exploiting technologies has paid off as it has now added a significant amount to its geological reserves. PetroChina Changqing Oilfield Company, the regional branch of China's PetroChina, has discovered an additional 1 billion tons of oil from shale oil resources at its oil field in Qingcheng, Northwest China's Gansu province.
read more... 29/10/2019
Russia Ready To Seize Control Of The World's Largest Oil Reserves
The Venezuelan government is readying to hand over control over state oil company PDVSA to Russia’s Rosneft, a local newspaper has reported, citing sources from the industry.
read more... 18/10/2019
Iran: Gas field discovered with $40 billion worth of reserves
A new gas field with 13,000 billion cubic feet of recoverable reserve and 385 million barrels of condensate, valued at $40 billion, has been discovered in Fars province, southern Iran.
read more... 15/10/2019
Mysterious Gas Reserve In East China Sea Floor Could Be A 'Ticking Time Bomb'
Seismologists and other researchers have detected a huge reservoir of gas off the coast of Japan underneath the waters of the East China Sea. This pocket may be one of several around the globe where conditions are similar. But the big questions are: Is the gas mostly carbon dioxide (CO2) or methane (CH4)? And, why is it potentially a “ticking time bomb”?
read more... 03/10/2019