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OPEC output drops in March

According to a survey released by Platts, the 12-member Organization of the Petroleum Exporting Countries' (OPEC) crude oil output dropped in March by 630,000 barrels per day to 29.17 million b/d, following the loss of 930,000 b/d of Libyan production and the failure of Saudi Arabia’s supply to face the decline in Libyan.

read more... 15/04/2011

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Statoil began oil production at Peregrino field in Brazil

Norwegian oil company Statoil announced on Thursday that it has discovered a significant oil reserve at its Peregrino field in Brazil and started oil production last week having the goal to become the second-largest operator there, after Petrobras.

read more... 15/04/2011

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Daily energy overview, Thursday, April 14, 2011

Brent crude futures ended higher, after a drop in two sessions in a row, supported by the government data indicating a deep fall in gasoline stockpiles and the investors’ worries on lasting turmoil in Libya. ICE Brent May crude traded at 122.88 dollars a barrel, up 1.96 dollars, ahead the expiration of the May contract on Thursday.

read more... 14/04/2011

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FuelCell Energy to award two contracts for renewable biogas processing and carbon capture

FuelCell Energy, a developing and manufacturing company of ultra-clean fuel cell power plants which generate electricity with up to twice the efficiency of conventional fossil fuel plants, announced the development of 2 renewable projects worth a total of 1.7 million dollars.

read more... 14/04/2011

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EU proposing a tax on carbon emissions

According to the European Commission reports, the European Union proposed a tax floor of 20euros per metric ton on fuels that emit CO2, including gasoline, diesel fuel, natural gas and coal starting from 2013.

read more... 14/04/2011

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