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China and India drive down global coal power in 2016
The amount of coal-fired power generation under development globally has reduced by 14 percent this year, driven down by China since it deals with oversupply and tries to encourage cleaner energy, as shown in a study on Wednesday.
read more... 07/09/2016
Shell to trigger production in Gulf of Mexico
Dutch energy giant Shell commenced production in its ultra deepwater fields in the Gulf of Mexico, according to an official statement.
read more... 07/09/2016
Azerbaijan: SOCAR opens new gas distribution network in Georgia
President of Azerbaijan’s SOCAR Rovnag Abdullayev took part with the Energy Minister of Georgia Kakha Kaladze in the launching of a gas distribution network in Girikhli village of Marneuli area in Georgia, as stated by SOCAR on September 5, 2016.
read more... 07/09/2016
Daily: Brent crude falls on receding hopes for imminent action to tackle a supply glut
Brent crude declined almost 1 percent on Tuesday, as hopes for a deal between two of the largest oil producers to freeze oil production vanished. On Monday, Russian and Saudi officials said they would set up a working group to monitor the oil market and come up with recommendations to promote stability in order to tackle global supply. The announcement gave a lift to oil prices. However, those gains faded by Monday afternoon as the news underwhelmed traders. On Tuesday, Brent futures for November delivery lost 37 cents, or 0.8 percent, to end at $47.26 a barrel. WTI crude did not settle on Monday due to the Labor Day holiday.
read more... 07/09/2016
Statoil acquires Tullow Oil stakes off Norway
Norway's Statoil ASA declared on Tuesday it had settled with the U.K.'s Tullow Oil PLC to buy stakes in four oil drilling licenses off Norway, counting a 20% stake in the Wisting finding in the Barents Sea, at an unrevealed price.
read more... 06/09/2016