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Daily: Crude oil losses 3% on firmer dollar after Fed’s decision to hike interest rates
Crude oil prices fell more than 3 percent on Wednesday as the dollar strengthened after the U.S. Federal Reserve’s decision to hike interest rates and after an increase in crude stockpiles at the largest U.S. storage hub renewed worries about a supply glut. Brent crude futures ended at $53.90 per barrel, down $1.82, or 3.27 percent after slipping as low as $53.80. U.S. crude closed the session down $1.94, or 3.66 percent at $51.04 per barrel after hitting a low of $50.92.
read more... 15/12/2016
Eni signs gas supply deal with Algeria’s Sonatrach
Italian energy firm Eni has signed on Tuesday a renegotiated gas supply deal with Algerian Sonatrach for the year 2016/2017.
read more... 14/12/2016
Denmark: Largest power plant replaces coal with wood pellets as fuel
Dong Energy has converted the unit 1 at Denmark’s largest power station- Avedøre to use wood pellets and straw as fuel rather than coal.
read more... 14/12/2016
ERBD to grant $135m loan to enhance power distribution in north-western Turkey
The European Bank for Reconstruction and Development (EBRD) is extending $ 134.75m loan to three Turkish electricity companies, the Trakya Electricity Distribution Company (TREDAŞ), the Trakya Electricity Retail Company (TREPAŞ), and to their parent company, IC İçtaş Elektrik (ICEL), as part of its moves to enhance reforms in the country’s electricity sector.
read more... 14/12/2016
Daily: German spot power prices extend gains as wind power declines
Crude oil prices trimmed off earlier gains to end Tuesday nearly steady, as the support from OPEC’s plan to cut production were undermined by an energy watchdog’s assessment of how much those nations are currently producing. Brent crude rose by 3 cents to settle at $55.72 a barrel and the U.S crude WTI increased just 15 cents to close at $52.98 a barrel, losing ground late in the session.
read more... 14/12/2016