Oil

Oil consists of various hydrocarbons. It is produced by the anaerobic decay of organic material under the surface of the earth. Both oil and gas can be extracted by drilling, they are lighter than water and they tend to rise from their sources when released from their underground pockets. Petroleum is mostly used for producing fuel oil and petrol. The burning of oil releases carbon dioxide into the atmosphere. Extraction of oil is costly and environmentally damaging. The top petroleum-producing countries are Saudi-Arabia, Russia, the United States and Iran.

ARTICLES
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[ 14.04.2008 ]
Arctic oil drilling threatens international radioactive contamination from old Soviet nuclear dump-sites
A Russian Academy of Sciences study indicates decades worth of nuclear reactor and radioactive waste dumping in the Kara Sea by the Russian Navy - as well as fallout from Soviet-era nuclear bomb test - could cause heightened levels of radioactive contamination when major Arctic oil drilling projects ramp up.
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Photo: Thomas Nilsen

[ 04.04.2008 ]
Gazprom pushes for more nuke power to develop Shtokman oil and gas reserve
Russia’s aging Kola Nuclear Power Plant, which is already limping along with two reactors that have run out their engineered life spans, is negotiating with Gazprom over building two more reactor units to supply more power for developing the underwater Arctic Shtokman oil and gas reserve.
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[ 05.03.2008 ]
Murmansk speaks out against using floating nuke plants in oil project
MURMANSK - A majority of 71 percent of Murmansk Region residents in Russia’s far Northwest spoke out against the use of floating nuclear power plants in the development of the oil boom expected in the Shtokman field under the Barents Sea off Russia’s Arctic Coast, a poll has found.
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NEWS
[ 30.04.2007 ]
Pipeline between Romania and Italy to make EU countries more independent from Russia

Energy ministers of five southern European countries signed a declaration on building a 1319-km long pipeline to pump oil from Romania to Italy.

[ 23.03.2007 ]
Russia looks towards the Barents Sea for oil and gas exports

Russian oil exports through the Barents Sea might reach 150 million tons within a decade, a draft report from the Norwegian Barents Secretariat states. The report demonstrates that the Shtokman gas field is only a part of a far broader picture with the development of several new export terminals and hydrocarbon fields under planning.

[ 05.03.2007 ]
Russia considers new oil terminal in Pechenga Bay

The Severnaya Neft Company intends to construct new port and terminal facilities in the Pechenga Bay (Murmansk region).

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