Latest news

OPEC maintains output quotas

The Organization of Petroleum Exporting Countries (OPEC) decided on Saturday at an extraordinary meeting in Quito to maintain current quotas for its production.

read more... 13/12/2010


Uganda to satisfy in-house market oil demand.

Uganda is set to build a refinery in order to meet the local oil demand of an estimated 25,000 barrels per day (bpd) and eventually afterwards supply up to 200,000 bpd for export.

read more... 01/12/2010


Russia increased its oil export duty.

Russia may increase its oil export duty by 4% to $302 - $304 per ton in December, because of oil price increase to a two-year high.

read more... 11/11/2010


Russian crude export duty might decline 3 percent in October

According to the Finance Ministry data and Reuters calculations, oil export duty for October in Russia may drop about 3 percent to between $265 and $267 per tonne following the decline in crude prices during the second half of August.

read more... 14/09/2010


Gazprom to take a $1.5 billion loan

Gazprom Neft, the oil division of the energy company Gazprom, announced the signing of a pre-export finance facility of 1.5 billion dollars for the next 5 years.

read more... 04/08/2010