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Daily: Crude oil prices slump as Libya pessimistic economic data feed supply glut worries
Crude oil prices slumped by as much as $2 on Tuesday, posting their sharpest plunge this year as increasing Libyan supplies and pessimistic economic data intensified worries that the global market was leading to a near-term oversupply. Brent futures dropped 96 cents to close at $106.02 a barrel, rebounding from a low of $104.39 a barrel earlier in the session, the lowest level since April 2. U.S. crude futures dipped 95 cents to close at $99.96 a barrel.
read more... 16/07/2014
EWEA: European offshore wind power capacity drops in the first half of 2014
Europe has currently 16 offshore wind farms under construction with a combined energy capacity of 4.9GW due to be achieved by 2016.
read more... 16/07/2014
Gazprom gas prices for Europe could be reduced by 17% by 2017
Gazprom’s natural gas prices under long-term contracts with European countries are expected to be curbed by 17% to $320 per 1,000 cubic meters by 2017 thanks to gas supply diversification, including shale gas production, according to the declarations made by a representative of Russia’s Economic Development Ministry.
read more... 15/07/2014
Ofgem gives the go- ahead to a £1.2bn subsea electricity link in Scotland
Scottish Hydro Electricity Transmission (SHE Transmission), the electricity transmission subsidiary of SSE, has got the green light from the UK Office of the Gas and Electricity Markets (Ofgem ) for a £1.2bn subsea link and transmission charging upgrade. It represents the greatest investment in the region’s electricity network since the 1950s.
read more... 15/07/2014
Daily: Europe power prices rally on weaker supply, strong demand
Crude oil prices posted a moderate gain on Monday on signs of healthy supplies as tensions in Libya and Iraq tempered. Brent crude rose 32 cents to close at $106.98 a barrel, while U.S. crude futures boosted 8 cents to settle at $100.91 a barrel. The spread between the two benchmarks settled at $6.07.
read more... 15/07/2014