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EU calls for new “green” targets

The EU energy chief, Günther Oettinger, said new targets are necessary to settle beyond 2020 within the next two years, as the present targets to generate 20% of European energy demand from renewable sources expire in 2020. He also said the new renewable targets for 2030 should be settled by 2014.

read more... 16/12/2011

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IEA: Singapore to become an LNG-trading hub

With a record demand for LNG in Japan and a boom in North American supplies, natural gas is expected to play a key role in the global energy mix of the future, with the International Energy Agency (IEA) saying it could well be a “golden age” for gas, paving the way for an LNG trading hub in Asia.

read more... 16/12/2011

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Daily – Crude oil hit its lowest in 6 weeks on demand concerns

U.S. crude oil futures increased early on Thursday after U.S. economic reports, but ended at their lowest level in six weeks on persistent worries over global oil demand. NYMEX crude for January delivery settled at 93.87 dollars a barrel, down 1.08 dollars, while ICE Brent crude for January delivery pared some of the losses to end at 105.09 dollars a barrel, up 7 cents.

read more... 16/12/2011

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IEA: oil market to be more balanced in 2012

According to the most recent monthly report released by International Energy Agency (IEA), the global oil demand is expected to fall in 2012 on the worsening global economic background and persistently increased oil prices, fact that will help balance oil markets next year.

read more... 13/12/2011

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Saudi Arabia: oil output at 30-year high

Top oil exporter Saudi Arabia pumped oil at the highest level for three decades in November, just a week before a key OPEC meeting, aimed to meet customer demand with increased production if necessary.

read more... 08/12/2011

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