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Daily Energy Market Overview, Wednesday, January 19, 2011
Oil prices rose on Wednesday supported by a lower dollar hitting eight-week dips and on a better than expected 2011 demand growth. Though, milder weather and signs over healthier supplies are likely to limit oil gains.
read more... 19/01/2011
OPEC criticizes IEA for inconsistent oil supply view
The International Energy Agency (IEA) accused the OPEC of intentionally hesitated to boost the output of oil in order to maintain a higher level of oil prices. At the same time, OPEC criticizes the agency for providing inconsistent oil price view.
read more... 19/01/2011
Shell follows the exploration of South Africa’s Karoo basin
Bulgaria has to meet the EU target of 1250MW (which represents 16 %) of energy generation from renewable sources by 2020.
read more... 19/01/2011
BP and Rosneft sign offshore exploration agreement
European oil giant BP has concluded a deal with Rosneft, Russia's largest oil producer, to develop the Arctic's vast oil and gas fields. The agreement provides the development of three of Rosneft's offshore license exploration blocks-- EPNZ 1,2,3 in northern Russia.
read more... 18/01/2011
Shell to give up about 20 % of its stake in CSPC to gain 30 % stake of CNOOC Refinery
The reporters from China Daily newspaper announced on Tuesday that the oil giant, Royal Dutch Shell is negotiating to acquire a 30 % stake in a refining project. The project belongs to China National Offshore Oil Corporation (CNOOC) and requires about $ 7.5 billion of investments.
read more... 14/01/2011