Vår Energi company (owned by Eni and Hitec Vision) has found new oil reserves on the shelf of the Barents Sea in Norway. This is stated on the resource Eni.

According to preliminary estimates, the volume of reserves ranges from 65 to 100 million barrels. Vår Energi holds over 140 licenses for oil and gas production in 35 fields. The company’s current production is about 300 thousand barrels of oil per day.

Earlier, it was reported that China, which is the world’s main importer of oil, bought raw materials to capacity. At present, oil storage facilities are almost filled to capacity with fuel. The May 8, Brent futures price exceeds $70 per barrel for the first time since January 2020. WTI rose 1.72 percent to $67.41.