Flashing Gas and Oil News Across the World

The investors across the globe are showing greater interests, for producing investments in gas and oil sector. Most capitalists are aware of the risks involved in the gas and oil investment trade, tbadaily even though they invest because of the profit obtained from these two spheres are high. Recently the president of China National Offshore Oil Corporation articulated that, the oil company is planning to invest a great deal of money for stepping up the production of oil and natural gas, in the forthcoming years. According to the latest gas and oil news report, the China National Offshore Oil Corporation plans to yield nearly 50 million tons gas and oil overseas by 2020. China National Offshore Oil Corporation has planned to refresh the northeastern port city which was damaged by the oil spill earlier and the company has also aimed to construct plants in Dalian. The Dalian has the capacity to produce more than one million ton of ethylene and the annual refining capacity of Dalian may reach around 20 million tons according the gas and oil news report released recently.

A couple of pipelines in Dalian owned by the China National Offshore Oil Corporation were exploded earlier and caused a huge damage to the fishing industry. This was the flashing gas and oil news across the world and the city government will recompense the losses occurred to the fishing industry. Tremendous amount of oil was discharged into the Yellow Sea and many gas and oil news reporters said that, the amount of oil ejected was 50 to 60 times more than the calculated one. According the calculations made by the environmentalists, the oil pipeline explosion had lead to a substantial loss and damaged the environment severely. Due to this blast the fishing industry has alone lost nearly 100 million US dollars in 2010.

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Shell Oil Company, leading gas and oil manufacturing company in the United States recently reported that increasing demand in the oil and natural gas will raise the prices of these products. The former president of Shell Oil Company John Hofmeister mentioned that, the people of United States will be paying 5 USD per gallon for gas from 2012 and also added that the increase in the price was due to poor response showed by the government of United States and less supply. He also asserted that, the drilling operation in the Gulf of Mexico region is stalled due to the huge BP oil well disaster and government has enforced strict policies to the gas and oil drilling companies. If the government does not take suitable measures then, the country will experience a massive shortage of fuel.


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