Latest news
India may invest $20bn in Iranian oil and petrochemicals projects to raise imports
India may invest as much as $20bn in oil, petrochemicals and fertiliser projects in Iran in order to import more crude to cover its demand.
read more... 12/04/2016
UK’s National Grid predicts all-time lows for electricity demand this summer
Peak electricity consumption in UK is expected to decline to a record low this summer to 35.7 GW, some 2GW lower than last year according to National Grid.
read more... 08/04/2016
Daily: Oil prices rebound after Kuwait’s statements on output freeze
Crude oil prices boosted on Tuesday after Kuwait's OPEC governor Nawal Fuzaia said that the oil producers could agree to freeze the output at February levels at the April 17 Doha meeting even without Iran. The market prolonged gains in post-settlement trade after preliminary data on U.S. crude supply-demand for last week from industry group American Petroleum Institute (API) showed an unexpected draw of 4.3 million barrels. U.S. crude closed the session up 19 cents at $35.89, reaching a one-month low of $35.24 during the session. It increased to $36.58, up 88 cents, after the API data. Brent crude rose 18 cents to settle at $37.87 a barrel on the Intercontinental Exchange (ICE), after plunging to a March 4 low of $37.27 earlier. It recorded a post-settlement high of $38.44.
read more... 06/04/2016
Norway will increase gas production capacity, envisages Arctic pipeline
Norway intends to raise its gas production capacity and is assessing the potential for constructing a pipeline from the Barents Sea to satisfy future demand in Europe, according to its gas system operator Gassco on Tuesday.
read more... 06/04/2016
Daily: Oil price reduces to one-month low on unpredicted U.S. demand drop
Oil dropped to a one-month low on Tuesday after a surprise decline in gasoline demand in the United States, the world's biggest oil consumer, and hesitations whether oil producers can agree a production freeze to reduce a global supply glut.
read more... 05/04/2016