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Daily: Crude oil plummets on Chinese economy downturn, increase in U.S. crude inventories
Crude oil prices ended lower on Tuesday, dragged down by signs of a downturn in Chinese economy and an increase in U.S. crude inventories for the second consecutive week. However, Brent crude losses were capped by endless production outage in Libya and South Soudan, whereas U.S. light crude was pulled down by plummeting gasoline future prices amid weaker demand for the fuel.
read more... 26/02/2014
Russia to increase its oil and gas production
Deputy Energy Minister, Kirill Molodtsov, declared that Russia is likely to increase its oil production by 0.3% to 525 million tons in 2014, about 10.54 million barrels per day, which could be the highest level Russia has attained since the collapse of the Soviet Union. The significant growth was attributed to changes in tax law, which has stimulated development of new fields and hard-to-recover reserves.
read more... 14/02/2014
USA: Coal production at lowest level in 20 years
According to new data from the Energy Information Administration (EIA), coal production in the USA plunged to its lowest level in 20 years, totaling 996 million short tons at the end of 2013, or a 2% decrease compared to 2012 levels. It is the first time in 20 years that annual coal production was below 1 billion short tons.
read more... 12/02/2014
Denmark: Wind energy production sets world record
Wind energy capacity is growing quickly in many countries all over the world, despite many disadvantages of using wind energy, most particularly is the intermittent accessibility of wind energy.
read more... 05/02/2014
Algeria is likely to increase oil and gas production
Algeria is aiming to increase its oil and natural gas production by 50% and 100 percent respectively within 10 years helped by major exploration success last year and by shale gas which would have an important role to achieve the ambitious plan. The minister projected Algeria's recoverable reserves at between 25 and 30 trillion cubic feet.
read more... 29/01/2014