ExxonMobil presented the latest edition of the companys Outlook for Energy: A View to 2030 at a roundtable in Dubai outlining the increasing global and regional energy demand.

Irans oil and gas reserves have risen by half a billion barrels and five trillion cubic feet respectively with the discovery of new onshore oil and gas fields in the south and west of the country, an Iranian daily quoted a senior oil official as saying.

The Dow Chemical Company announced that sales in Q1 of 2011 hit US$14.7 billion, a 20 per cent increase compared with the same period last year.

Nine of the worlds leading oil and gas companies – BG Group, BP, Chevron, ConocoPhillips, ExxonMobil, Petrobras, Shell, Statoil and Total – announced the launch of the Subsea Well Response Project (SWRP), an initiative designed to enhance the industrys capability to respond to subsea well control incidents.

The International Energy Agency (IEA) cut its global oil demand growth forecast for this year, due to persistent high oil prices and lower growth projections for developed economies.