Crude oil prices declined almost by 3 percent for a second consecutive day on Thursday ahead of an OPEC decision to maintain the market oversupplied and on concerns that spiking European bond yields could tighten the speculative money and depress oil. The highly expected OPEC meeting on Friday isn't expected to lead to easing of a glut of global-crude supplies or take into account the prospect of growing output from Iran. OPEC is expected to hold output target of 30 million barrels per day, ignoring calls from some producers to cut supply and support prices.
read more... 05/06/2015
Siemens, the world's major producer of offshore wind turbines, has obtained an order from British utility Scottish Power to construct over 100 of the machines for the East Anglia One project, the first order for Siemens' new UK factory in Hull.
read more... 05/06/2015
German industrial firm Siemens inked an 8 billion euro agreement ($9 billion) with Egypt on Wednesday to provide gas and wind electricity plants to increase the North African country's power production by 50 percent.
read more... 04/06/2015
Crude oil prices declined by about 3 percent on Wednesday as traders and investors ignored a fifth consecutive weekly fall in U.S. crude inventories to concentrate instead on a big increase in distillates, including diesel as the peak season for road travel is arriving. Brent crude fell $1.69, or 2.6 percent, to close at $63.80 a barrel. U.S. crude tumbled 2.6 percent, or $1.62, to close at $59.64.
read more... 04/06/2015
ABB has obtained a deal to provide an ample electrical and control system for the new Severnside Energy Recovery Centre in England and a waste-to-energy plant in Poznan, Poland.
read more... 04/06/2015