Latest news
Russia approves energy sector tax increases in 2016
Russia's government has approved plans to raise its mineral extraction tax (MET) on energy giant Gazprom and keep unchanged an oil export duty calculation mechanism next year, as declared by First Deputy Prime Minister Igor Shuvalov on Thursday.
read more... 09/10/2015
Daily: Crude oil prices soar at three-month high on market oracle PIRA bullish forecast
Crude oil prices hiked to their highest level in three month on Thursday after PIRA Energy Group forecasted that oil prices would increase to $75 in 2017, adding to previous gains curbed after a rise in Chinese stockpiles and worries about Russia's military involvement in Syria. PIRA Energy Group, the oil market oracle, said it sees crude prices at $70 per barrel by the end of 2016 and $75 a barrel in 2017. Brent crude oil futures rose by $1.72 to close at $53.05 a barrel, while U.S. crude futures edged $1.62 higher to settle at $49.43 a barrel.
read more... 09/10/2015
Norway anticipates a drop of oil investments by 21% by 2017
Norway anticipates its oil and gas investments, a keystone of its economy, to fall by around 21 percent by 2017 from a record high last year, as stated by the government in its 2016 budget on Wednesday.
read more... 09/10/2015
Eni gets the go-ahead to prolong use of service rig on Arctic field
Italian oil giant Eni got the green light from Norway's Petroleum Safety Authority (PSA) to extend the use of the Floatel Superior, an accommodation and construction support vessel, on the Goliat field, in the Barents Sea.
read more... 08/10/2015
Daily: European coal prices pressured by a global supply glut
Crude oil prices declined in volatile trading on Wednesday, breaking a three-day increase, after U.S. government figures indicating a massive crude stockpile increase surprised traders the day after an industry group had reported a decline. Brent, the global crude benchmark, fell 59 cents, or 1.1 percent, to settle at $51.33 a barrel. The West Texas Intermediate (WTI) shed 72 cents, or 1.5 percent, to close at $47.81.
read more... 08/10/2015