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Daily – oil closed the 2011 with the third straight annual increase
U.S. crude and ICE Brent crude oil futures ended up the 2011 on Friday, the third straight annual increase, but off 2010’s 21.5 percent and 15 percent jump respectively, as export disrupting civil war in Libya countered the effect of slower economies and Europe’s debt crisis.
read more... 02/01/2012
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
OPEC meets to discuss output
The Organization of the Petroleum Exporting Countries meets on Wednesday in Vienna to discuss oil output policy.
read more... 14/12/2011
Saudi Arabia: oil output at 30-year high
Top oil exporter Saudi Arabia pumped oil at the highest level for three decades in November, just a week before a key OPEC meeting, aimed to meet customer demand with increased production if necessary.
read more... 08/12/2011
Shale gas – a possible game changer in the global energy mix
In the United States, hydraulic fracturing, a recently developed method of shale gas procurement, has the potential to flip the country from a net importer of natural gas to a net exporter. Shale gas now accounts for one quarter of all U.S. gas production, and the Energy Information Administration (EIA) forecasts that this proportion will double by 2035.
read more... 23/11/2011