Crude oil prices posted a slight increase on Wednesday, but pressured by an unexpected drawdown in U.S. crude and gasoline inventories, offset by fears that Saudi Arabia will trigger a record output even as OPEC mulls a reduction of global glut. U.S. West Texas Intermediate crude futures ended at $46.79 a barrel, up 0.45 percent on the day or about 21 cents. Brent crude futures recovered from mid-day losses to jump 55 cents at $49.78 a barrel.
read more... 18/08/2016
One of the biggest offshore substations in the world has started a three week trip from Cadiz in southern Spain to the German area of the Baltic Sea, where it will finally be located at the 350 MW Wikinger offshore wind farm.
read more... 17/08/2016
British government gave the go ahead for plans to expand an offshore wind farm project off the Yorkshire coast which could ultimately have more than 600 turbines spread across an area of the North Sea more than twice the size of London.
read more... 17/08/2016
Iraq started running a new natural gas processing plant for oil fields in the southeastern area on Sunday as part of a plan to employ gas that was previously flared to produce power, as stated by the oil ministry.
read more... 17/08/2016
Crude oil futures settled higher on Tuesday, with prices posting a fourth consecutive session gain, spurred by U.S. dollar weakness in a context of revived talks to limit production next month. September West Texas Intermediate crude rose 84 cents, or 1.8%, to settle at $46.58 a barrel on the New York Mercantile Exchange. October Brent crude on London’s ICE Futures exchange increased 88 cents, or 1.8%, to settle at $49.23 a barrel. WTI and Brent both rallied at their highest levels in more than a month.
read more... 17/08/2016