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Statoil discloses the size of North Sea oil discovery

Acording to the Statoil estimations, the Aldous and Avaldsnes oil discoveries in the North Sea, could be the country’s largest oil discoveries since the 1980s, which may hold 500 million to 1.2 billion barrels of recoverable oil.

read more... 19/08/2011

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E.ON announces drastic jobs cuts

Last week, E.ON, the largest power utility in Germany, announced its intention to cut up to 11, 000 jobs worldwide and reduce dividends after first-half profit plunged because of the increased costs following nuclear exit. That’s approximately 10 percent of jobs that will be affected by this drastic measure.

read more... 19/08/2011

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China Industrial Waste Management Company increased its profit in Q2 2011

The largest industrial solid waste recycling and environmental protection engineering company announced a double increase in profit in the second quarter of 2011 from 4.9 million dollars to 8.3 million dollars for the same period last year. Meanwhile, gross profit rose by 41.2 percent to 4.3 million dollars from 3.1 million dollars in the same period in the previous year.

read more... 18/08/2011

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Daily energy Overview, Thursday, August 18, 2011

U.S. and Brent crude oil futures increased on Wednesday recovering after a fall in prices as a government report about a huge drop in the U.S. gasoline stockpiles supported an increase in crude inventories and worries for a slow economic growth.

read more... 18/08/2011

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South Korea approves a major LNG deal with Shell, Total

South Korea approved on Wednesday a long-term deal with the energy giants, Shell and Total, to import 5.64 million tones of natural gas annually from LNG projects in Australia.

read more... 18/08/2011

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