Latest news
Romania: Chevron won the approval to start shale gas exploration
US oil giant Chevron obtained permits to drill exploration wells for shale gas in the areas in eastern Romania. Chevron will explore for shale in three blocks of 670,000 acres near the Black Sea. The permits will consent to Chevron to drill at depths of between 10 and 15 meters within an area that measure 1,800 square kilometers.
read more... 12/07/2013
Daily: UK gas prices increase on lack of Dutch imports
Brent crude traded around three-month high on Thursday, backed by the expectations that the Federal Reserve will keep its stimulus programme to support the U.S. economy, while a considerable decline in crude stocks pushed U.S. oil to near 16-month peaks.
read more... 12/07/2013
The need for OPEC oil to decline in 2014 due to shale boom in America
The Organization of Petroleum Exporting Countries (OPEC) has estimated that in 2014 world oil demand will see a significant grow, by about 1.04 million barrels per day, an augment of about 300,000 barrels if compared with the growth predicted for 2013, representing the biggest increase in demand since 2010.
read more... 11/07/2013
Germany's dependence on coal to continue for a long time
Germany intends to reduce reliance on imported oil and has started the phase-out of aging nuclear power stations, meanwhile the German government has adopted a target of achieving 20% of the country's energy share from renewable sources by 2020.
read more... 11/07/2013
Daily: British gas prices drop on oversupply, warm weather
Brent crude dropped towards $107 on Wednesday on worries about weakness in the recovery of China, the world's second biggest oil consumer, while U.S. crude traded higher after data showed a bigger-than-expected fall in crude oil stockpiles.
read more... 11/07/2013