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Daily: Oil breaks the $50 threshold on hopes for non-OPEC output reduction
Crude oil prices recovered from the week’s low to end above $50 a barrel on Thursday, on hopes that non-OPEC producers might agree to slash output after the cartel agreement to curb production. Brent gained 89 cents, or 1.7 percent, to settle at $53.89 a barrel. WTI light crude climbed $1.07, or 2.2 percent, to end at $50.84 a barrel. Both Brent and U.S. benchmarks soared after the former secretary general of the OPEC made comments supportive of non-member production cuts.
read more... 09/12/2016
Rosneft sells a 19.5% stake for $11 bn
Russia has sold a 19.5% stake in state-controlled oil major Rosneft to a consortium of Glencore and Qatar Investment Authority sovereign-wealth fund for €10.2bn ($11bn).
read more... 08/12/2016
The Netherlands to halt subsidizing renewables as they become more viable
The Netherlands announced it will progressively phase out subsidies for renewable energies and focus its climate strategy on energy saving and carbon capture, according to Dutch government.
read more... 08/12/2016
India is negotiating with Russia natural gas swap with China
A unit of India's Oil and Natural Gas Corp Ltd (ONGC) is in discussion with Russia to swap natural gas with China and Myanmar as an alternative to building a proposed pipeline to carry gas from Russian Siberia, a senior official said on Wednesday.
read more... 08/12/2016
Daily: Oil retreats on downbeat U.S. inventory report, doubts over OPEC cut
Crude oil prices tumbled on Wednesday on pessimistic U.S. petroleum inventory figures and doubts that output curtailing envisaged by OPEC and Russia would be sufficient to put a cap on oversupply that has put pressure on oil market for more than two years. Brent futures eased 93 cents, or 1.7 percent, to settle at $53.00 a barrel, while U.S. crude fell by $1.16, or 2.3 percent, to close at $49.77.
read more... 08/12/2016