Latest news
China will cut fuel prices
China announced on Thursday cuts to fuel prices, introducing additional stimulus into the world's second-largest economy, which has shown signs of recovery in latest months. The Asian country will cut gasoline and diesel prices by 310 Yuan ($49.75) and 300 Yuan a metric ton, effective from Friday, has announced the National Development and Reform Commission, the country's top economic planning body.
read more... 16/11/2012
China to offer subsidies for shale gas development
China is considering new policies to stimulate the development of the domestic shale gas industry which include the allocation of a financial incentive for operators interested in the exploration of shale gas fields, according to an official at the Ministry of Land and Resources.
read more... 06/11/2012
Italy plans to increase its crude oil production by 150%
The Italian government plans to boost the oil and gas industry, as part of its first national energy plan in more than 20 years and one of the major parts of this plan is development of the Tempa Rosa oil field in southern Italy.
read more... 06/11/2012
China’s natural gas consumption to rise to 230 bcm by 2015
The National Development and Reform Commission released new data according to which natural gas consumption in China will reach 230 billion cubic meters in 2015, as the Asian country has approved the natural gas development plan for the current 12th five year economic plan for 2015.
read more... 29/10/2012
Shell and Exxon Mobil to develop a huge North Sea field
The two oil giants, including Shell and Exxon Mobil, have received the final approval from the Department of Energy and Climate Change (DECC) for the development of a huge project in the North Sea, involving the development of Fram oil and gas field, 136 miles east of Aberdeen, which was described as one of the most significant central North Sea developments for more than a decade and among the largest planned for UK waters.
read more... 23/10/2012