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Daily: Brent crude plunges to seven-year lows amid Chinese currency decline
Brent crude oil prices dipped to seven-year lows as the Chinese’s yuan currency declined on risk aversion ahead of anticipated U.S. interest rate increase next week and concerns that the currency’s depreciation could weigh over economic growth. Brent crude registered its biggest weekly percentage drop in over a year, while U.S. crude posted its largest such decline in about a year. Brent crude lost 4.53 percent to close at $37.93 a barrel after attaining $37.36, its weakest since December 2008. U.S. crude decreased 3.10 percent to settle at $35.62 after reaching $35.32, its lowest level since February 2009.
read more... 14/12/2015
Green and energy efficiency could reduce emissions by 1.7 Gt
Actions on green and energy efficiency in developing countries might cut emissions by 1.7 gigatonnes (Gt) yearly by 2020, according to a report by 1 Gigaton Coalition which is coordinated by the UN Environment Programme (UNEP).
read more... 14/12/2015
Turkmenistan begins work on gas connection to Afghanistan, Pakistan, India
Turkmenistan on Sunday started work on its part of a natural gas pipeline to Afghanistan, Pakistan and India (TAPI), a $10 billion project intended to cut its reliance on gas sales to Russia and China.
read more... 14/12/2015
France to invest billions to develop renewable energy projects in Africa
France envisages spending a total of 2 billion euros in renewable energy in Africa in 2016-20, a 50% increase in comparison with the last five years, according to the French President François Hollande.
read more... 11/12/2015
Daily: Crude oil prices end under $37 for the first time since 2009
Crude oil prices settled under $37 a barrel on Thursday for the first time since 2009 following the release of a report from OPEC’s indicating a hike in crude oil production in November to the highest monthly level in three years. On the New York Mercantile Exchange, West Texas Intermediate crude for January delivery slipped 40 cents, or 1.1%, to end at $36.76 a barrel. Brent crude for January delivery on London’s ICE Futures exchange eased 38 cents, or 1%, to hit $39.73 a barrel.
read more... 11/12/2015