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Angola – surpassing its OPEC quota.

Oil minister Jose Botelho de Vasconcelos was quoted by local news agency declaring that Angola is extracting more than its OPEC quota. The Angolan official said that they’re producing 1.9 million barrels of oil per day even though they admit the output target set by OPEC is 1.656 million bpd, and still, industry sources say that it is even lower, at 1.52 million bpd.

read more... 27/09/2010

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Belarus looking for oil imports through Latvia.

Belarus is trying to find solutions to import Venezuela crude, as it has entered negotiations with Latvia. Two test loadings have already been delivered to Belarus through Latvian and Estonian ports; thereby Minsk showed its interest in further cooperation with Latvia.

read more... 27/09/2010

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Daily Energy Market Overview 09.24.2010

Oil price dropped below $75 on Friday. ICE Brent crude fell $0.30 cents to $77.81. At 06:41 GMT, U.S. crude for November dropped $0.33 to $74.85 per barrel. Still, actual prices are considered stable, registering a gain over 1.6% during last six weeks.

read more... 24/09/2010

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China is the most attractive in renewable investments.

China was named, by Ernst & Young, the most attractive place to invest in renewable thanks to its policy of promoting demand on it, taxes on climate, grid connection and regulatory risk.

read more... 24/09/2010

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Big plans for Angola hydropower potential.

Carlos Feijo, Angola’s Minister of State, announced that his government is planning to invest 18 billion USD to 2016 to rebuild its dams that were destroyed in their three-decade long civil war. This investment is going to be, till now, the country’s biggest one in the energy sector.

read more... 24/09/2010

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