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Daily: Oil rebounds after eight-day series of declines
Crude oil prices climbed on Thursday, breaking eight-day series of decline, as investors covered short positions, but the market closed not far from 12-year lows on concerns that Iran may inject barrels in an already oversupplied global market. Brent crude rose 72 cents, or 2.4 percent, to close at $31.03 a barrel. Earlier in the session, it jumped to $31.23 after declining to $29.73, its lowest level since February 2004. Over the past eight sessions, Brent had decreased by about $7 a barrel, almost 20 percent. U.S. crude's West Texas Intermediate (WTI) also increased 72 cents, or 2.4 percent, to settle at $31.20. It attained a 12-year low of $29.93 earlier this week.
read more... 15/01/2016
BP to axe 4,000 jobs in exploration and drilling business amid dramatic slump in oil prices
UK oil giant BP is planning to slash 4,000 jobs internationally due to declining profits as a result of oil price collapse.
read more... 14/01/2016
Lithuania: plans to import LNG from the United States put on hold for the moment
Lithuania has put plans to acquire liquefied natural gas from the United States on hold since the LNG is not yet appropriate for the Baltic state's gas system, as declared by its state energy firm on Wednesday.
read more... 14/01/2016
Trianel purchased 10MW in Germany
Trianel Erneuerbare Energien has bought the 10MW Pritzen solar park in Brandenburg in Germany.
read more... 14/01/2016
Daily: Brent near to 12-year low as market struggles with sluggish demand
Brent crude lost 2% on Wednesday after slipping below $30 a barrel for the first time since April 2004 as increasing inventories of oil in the United States intensified worries about demand. Brent shed to a fresh 12-year low at $29.96 a barrel before settling at $30.31 a barrel, down 55 cents or 1.8 percent. WTI crude closed at $30.48, up 4 cents or 0.1 percent after declining as low as $30.10. On Tuesday, it plunged as low as $29.93, the lowest level since December 2003.
read more... 14/01/2016