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Daily: Brent crude posts the biggest gain since June on Saudi Arabia production cut
Brent crude oil increased by about 3 percent on Thursday, posting the largest percentage gain in a day since June 12, after an industry source said Saudi Arabia curbed production in September following the summer's decline in prices. Brent crude for December delivery boosted $2.12, or 2.5 percent, at $86.83 barrel, while U.S. crude's front-month rose by $1.57, or 2 percent, to close at $81.86, after an intraday peak at $82.37. That was the biggest percentage increase since September 16.
read more... 24/10/2014
Daily: oil price dropped thus far to attain US shale oil production
Brent crude oil dropped to its lowest level in almost four years, while European coal futures declined close to seven year lows.
read more... 14/10/2014
Iran aims to open six new petrochemical plants by mid-March 2015
Iran intends to open six new petrochemical plants by mid-March 2015, as stated by Ali Mohammad Bosagh-Zadeh, the National Petrochemical Company executive for production control.
read more... 09/10/2014
Romania to become gas self-sufficient by 2020
Romania will have by 2020 a gas production to cover its consumption and its smaller eastern neighbor Moldova, and the nation's gas grid operator will have to invest in its infrastructure to deal with additional resources, as stated by the energy minister on Wednesday.
read more... 02/10/2014
Algeria awards 4 oil, gas blocks out of 31
Algeria awarded four oil and gas field blocks of 31 on proposal to foreign conglomerates on Tuesday in its first try since an unsatisfactory 2011 bid to draw investors to facilitate compensate its idle production.
read more... 01/10/2014