A subsidiary of China’s Sinopec will cover the development of four oil fields in Shandong province in East China. This is stated in the statement of the holding, reports TASS. It is noted that these deposits are the least cost-effective among the 70 in the company’s portfolio. Due to the …
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Yesterday the news proudly reported that Russia, together with Saudi Arabia and Venezuela have agreed to freeze oil production. Speculators on the news sped up the price of oil by almost 10%. At the moment you would have thought that he crisis is over and the price of oil of …
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Reached in Qatar agreement must be seen as clumsy and a failed PR campaign. If a few decades ago, OPEC was indeed a cartel able to manipulate prices through regulated production and export, nowadays the organization has become a meaningless discussion club. Representatives of Russia, Saudi Arabia, Qatar and Venezuela …
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Oil prices benchmark Brent crude to $32 per barrel by 19:00 GMT on the NYMEX. WTI by this time fell below $29 per barrel. The corresponding peak appeared on the background of disappointing for oilers news about the results of the negotiations of the four oil-producing countries — Russia, Saudi …
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Iran intends, instead, to increase the level of oil production after the lifting of sanctions The Iranian authorities declared that do not see the logic in limiting oil production level and do not intend to accede to the relevant agreements concluded Tuesday in Doha by representatives of Russia and the …
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Major oil producers such as Russia, Venezuela and some countries of OPEC agreed to freeze the level of oil production for the sake of the situation on the energy market stabilized. In the negotiations involved Iran and Iraq, and many commentators suggest that this initiative they barely support. Most commentators …
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The number of wells, drilling of which is carried out for the purpose of oil production, declined significantly last week in the US amid falling prices for this fossil. According to service company Baker Hughes, the number of wells fell last week to 467 at 31, this decrease was the …
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