Latest news
BP authorizes investment in Egypt gas field 15 months after finding
British oil major BP has authorized investment in the first phase of expanding the huge Atoll gas field offshore Egypt, only 15 months after it first announced its discovery.
read more... 20/06/2016
Daily: Crude oil rebounds 4 % on less anxiety about Britain's possible exit from the European Union
Crude oil prices rebounded about 4% on Friday, as a weaker dollar and fears ease about Britain’s possible exit from the European Union prompted investors to purchase riskier assets. Brent crude futures' front-month contract rose by $1.98, or 4.2%, to settle at $49.17 a barrel. The front-month in U.S. crude's West Texas Intermediate (WTI) futures boosted $1.77, or 3.8%, to end at $47.98. For the week, Brent declined nearly 3% and WTI lost more than 2%.
read more... 20/06/2016
Russia’s Lukoil envisages sale of oil refineries in Europe
Russia’s oil company Lukoil mulls spinning off or selling its downstream assets in Europe to focus on exploration both in Russia and abroad, according to Chief Executive Vagit Alekperov.
read more... 20/06/2016
Daily: Oil dives 4% on fears about Britain exit
Crude oil prices dipped 4 percent and reached one-month lows on Thursday, ending down for a sixth consecutive day, on worries about global economic turmoil if Britain exits the European Union. However, oil pared losses as the sterling appreciated, but crude fell again in post-settlement trade to hit fresh lows on the day. Brent crude futures' front-month contact closed down $1.78, or 3.6 percent, at $47.19 per barrel. The front-month in U.S. West Texas Intermediate (WTI) crude futures lost $1.80, or 3.8 percent, to settle at $46.21 a barrel.
read more... 17/06/2016
Iran to jointly build an oil hub with China
China and Iran have inked a deal to jointly develop an oil terminal on Qeshm Islandin the southern Persian Gulf, which will turn the island into an important hub for oil production and reserves.
read more... 17/06/2016