Vitol to buy OMV Turkish distribution unit

A subsidiary of Vitol Investment Partnership Ltd. has agreed to buy OMV AG’s 100%-owned fuel-distribution subsidiary in Turkey for €1.368 billion. Source: News


IEA forecasts possible oil undersupply, price spike after 2020

Global oil supply could struggle to keep pace with demand after 2020, risking a sharp increase in prices, unless new projects are approved soon, according to the latest 5-year oil market forecast from the International Energy Agency. Source: News


Microbes may prolong Marcellus shale production, NETL research finds

The prolific Marcellus shale may be a rich source for microbial life, which could help refill the important domestic natural gas reservoir by producing methane, scientists at one of the US Department of Energy’s National Energy Technology Research Laboratories have found. Source: News