Latest news
OPEC ready to cut oil production in 2013 amid oil prices drop
The Organization of Petroleum Exporting Countries (OPEC) announced this week that it will keep its oil output limit at 30 million barrels per day, with production running about 1 million barrels a day above the level of supply that OPEC expects the world will need from it next year. This decision was taken in reaction to higher output from the major consumer United States and a decrease of energy demand which will cause a fall of prices as predicted by some analysts.
read more... 14/12/2012
Gazprom unveils a major gas project to conquer Asia
Russia’s gas giant Gazprom is planning to invest tens billions of dollars to build a 3,200km pipeline from East Siberia to the Pacific port of Vladivostok, as it pledges to lessen its reliance on exports to Europe and develop Asian markets.
read more... 01/11/2012
Novatek in talks with Germany and other EU countries
Novatek OAO, Russia's largest independent gas producer is in talks to enlarge its gas trading operations in Germany and other European countries, becoming the first Russian company to face Gazprom’s export monopoly. Novatek has already signed a contract with German utility EnBW to provide with 2 billion cubic meters of natural gas per year from October 2012 for a 10 years period.
read more... 31/10/2012
Iran is threatening to crude oil exports on sanctions intensification
Iran is threatening to stop definitively oil exports to the world if sanctions from Western countries become more stringent. Sanctions against the Iran have become tighter as the United States and other nations attempt to force Iran to stop developing its nuclear energy program, while Tehran says its nuclear plans are peaceful.
read more... 24/10/2012
Gazprom boosts gas supplies to Turkey by 50% after Iranian pipeline explosion
The Russian gas giant, Gazprom on Friday has boosted its gas exports to Turkey by 50% to 48 million cubic meters per day in order to compensate for the suspension of imports after a blast late Thursday on the Iran- Turkey gas pipeline.
read more... 22/10/2012