Latest news
Total to start fracking in UK
The French oil giant Total is on the brink to become the first major oil company which would explore for natural gas and oil in shale rock in UK, as the company has acquired a 40% stake in two shale gas exploration licences in Lincolnshire in the East Midlands.
read more... 13/01/2014
Italy intends to increase oil production
It is thought that Italy could hold Europe’s biggest onshore crude oil fields. The priority for Italy’s government is to re-launch an economy that’s shrunk and where more than 35 % of young people are unemployed.
read more... 13/01/2014
Daily: British prompt gas prices decline on higher temperature forecasts
Crude oil settled higher on Friday, reversing two days of losses, as traders purchased contracts to cover short positions ahead of the weekend and reports of production issues at a major oil field in the UK kept supply concerns.
read more... 13/01/2014
Daily: Crude oil prices drop on both sides of Atlantic on ballooning stocks for heating oil
Crude oil futures on both sides of Atlantic dropped over $1 on Thursday, dragged down by high stocks of heating fuels.
read more... 10/01/2014
China’s shale gas production increased considerably last year
According to the Ministry of Land and Resources, shale-gas production in China enhanced more than fivefold last year, to 200 million cubic meters. Oil and natural gas output hit record highs last year stated the Ministry.Production of crude rose 1.8% to 210 million metric tons while conventional gas increased 9.8 % to 117.7 billion cubic meters.
read more... 09/01/2014