The world may have no more than half a century of oil left at current rates of consumption, while surging demand from the developing world threatens to create “very significant price rises” before substitutes like biofuels can serve as viable alternatives,…
Top world oil exporter Saudi Arabia and other Gulf countries have boosted output in March, helping to make up for supply lost due to violence in Libya, a Reuters survey found on Wednesday.
DNO International ASA is currently preparing its Annual Statement of Reserves (ASR) as per 31.12.2010. The reserve estimates corresponds to commercial reserves, class 1-3. The preliminary figures, as presented in this notice, show a substantial increase…
A member of Iraq’s parliamentary oil and energy committee expressed doubt on Wednesday about the country’s forecasted 12 million bpd crude exports in the coming years because of its infrastructural inability to absorb such quantities.
Iraq’s super-giant West Qurna Phase One is producing 310,000 barrels of crude a day and output will rise to 400,000 barrels a day by the end of 2011, head of the field operating division said Wednesday.