Latest news
Daily (10.01.2017): British gas prices rise on cold snap forecasts
Oil prices sank by around 4% on Monday on concerns that record Iraqi crude exports and rising U.S. production would undermine OPEC's efforts to lessen global oversupply. In Iraq, OPEC's second major producer, oil exports from the southern Basra ports hit a record high of 3.51 million barrels per day (bpd) in December, according to the oil ministry.
read more... 10/01/2017
Rosneft and BP achieve dissolution of the refining joint venture Ruhr Oel GmbH in Germany
Russian oil giant Rosneft and its shareholder BP unveiled the completion of the deal to dissolve the refining and petrochemical Joint Venture Ruhr Oel GmbH (ROG) in Germany with effect from January 1, 2017.
read more... 30/12/2016
Socar and BP’s consortium to extend the development of Azeri-Chirag-Gunashli oilfields until 2050
Azerbaijan’s energy major SOCAR and BP-operated Azerbaijan International Operating Company (AIOC) signed a deal to extend the development the Azeri biggest fields by a quarter of century to 2050.
read more... 26/12/2016
Daily: Oil skyrockets at highest level in 18 months on non-OPEC deal
Crude oil prices skyrocketed to an 18-month high on Monday after OPEC and some of its rivals inked their first deal since 2001 to jointly cut output to fight against the global oversupply. On Saturday, producers from non-OPEC, led by Russia, agreed to slash output by 558,000 barrels per day, short of the target of 600,000 bpd but still the largest non-OPEC contribution ever. Brent crude futures rallied $1.36 to settle at $55.69 per barrel, a 2.5 percent rise, after hitting a session peak of $57.89, the highest since July 2015. The U.S. WTI rose by $1.33 to end at $52.83 a barrel, a 2.6 percent gain, though that was sharply off the day's highs.
read more... 13/12/2016
BP gives the go-ahead for the $9bn Mad Dog 2 oil project in the Gulf of Mexico
BP has given the go-ahead for the $9bn Mad Dog 2 oil project in the US Gulf of Mexico despite a slump in oil prices.
read more... 02/12/2016