Petroleum industry
Libyan oil production, which was severely impacted by the country's conflict, has begun to recover rapidly. The International Energy Agency (IEA) reports that crude oil production in Libya increased from around 75,000 barrels per day (bpd) in September to approximately 500,000 bpd in November. Energy companies
Petroleum industry
Carbon Sciences Inc., the developer of a breakthrough technology to make liquid transportation fuels from natural gas and carbon dioxide, has commented on the successful shipment of Gas-to-Liquid (GTL) products by Royal Dutch Shell to the U.S. The company believes its own GTL solution will be commercially viable, citing
Petroleum industry
First Nations across British Columbia have united in opposition to the export of tar sands crude oil through their territories, effectively banning the practice throughout the entire province. This decision comes in response to recent calls from the Harper government and oil executives to push through pipeline and tanker projects
Petroleum industry
Petrol prices in India are likely to see a reduction of Rs 2 per litre from Thursday midnight, following a slight dip in Singapore gasoline prices. This will be the second consecutive price decrease in two weeks since the deregulation of petrol prices in June 2010. State-run oil retailers, including
Petroleum industry
India's oil refining capacity is set to rise significantly over the next few years, driven by the commissioning of new refineries in Orissa and Punjab. According to Oil Minister S Jaipal Reddy, the country's refining capacity will increase from the current 193.386 million tonnes per
Petroleum industry
Global oil supply is predicted to meet demand, thanks to North American production increases, reducing reliance on Saudi and Middle Eastern sources. Unconventional oil extraction methods, such as oil sands, shale drilling, and offshore drilling, are successfully replacing traditional supply sources. The shift towards domestic oil production is expected to
Petroleum industry
A new study published in Environmental Health Perspectives reveals that the Food and Drug Administration (FDA) seriously underestimated the cancer risk from contaminants that can accumulate in seafood in the Gulf of Mexico after the BP oil spill disaster. The study, conducted by Miriam Rotkin-Ellman and Gina Solomon of the
Petroleum industry
Indian Oil Corporation, the country's largest commercial oil retailer, has maintained its high ratings from CRISIL due to its strategic importance to the Government of India (GoI) and its key role in implementing socio-economic policies. With a vast network of refineries across India, the company remains a vital
Petroleum industry
Oil firms in the Philippines have rolled back their prices following the decline in world oil prices due to the European financial crisis. The price cuts range from P1.20 per liter for gasoline to P0.80 per liter for kerosene, effective Monday. This move is attributed to the lower
Petroleum industry
Norway's oil production will decline despite the recent significant oil discovery off its coast, the head of the Norwegian Petroleum Directorate (NPD) said. The discovery, Avaldsnes/Aldous Major South, could hold 1.2 billion to 2.6 billion barrels of oil equivalent, potentially becoming the third-largest find on
Petroleum industry
Russia will introduce significant changes to its taxation of the oil industry on October 1, aimed at giving upstream players more room to breathe and making refiners shape up or cease to exist. The new "60-66" fiscal regime, a lower export duty on crude oil of around 7%
Petroleum industry
Florida's Panhandle is experiencing its best tourism year ever, according to Governor Rick Scott, with record-breaking bed tax collections and packed restaurants. The governor attributed the surge to the $30 million marketing funds provided by BP, which allowed tourist development councils to do additional outreach and advertising in
