EDF French group will shut down its oil-fired plants for half a year starting from April, taking offline a power capacity of 5,000 MW, because the plants turned out to be uncompetitive among huge overcapacities in the European electricity sector.
read more... 06/03/2014
Oil prices dropped by about $2 per barrel on Wednesday after the publication of U.S. government data indicating a weaker oil demand since weather in Europe and the United States is expected to warm and as refiners are likely to raise the amount of capacity they take offline this week. Brent oil for April delivery closed $1.54 lower to arrive at $107.76, settling below the 200-day moving average of $108.41 on Wednesday the first time one month. Meanwhile, U.S. crude for April delivery settled $1.88 lower to hit $101.45.
read more... 06/03/2014
Three power exchanges have been fined on Wednesday by EU antitrust regulators for approximately 6.9 million euros because of the anti-competitive practices impeding Europe’s plan to establish an integrated energy market.
read more... 06/03/2014
The offshore natural gas project developed by Italy's Eni and Spain's Repsol in the Gulf of Venezuela jointly with state-owned Venezuelan oil group PDVSA is likely to generate its first production at the end of this year, as stated by Paolo Scaroni, Eni's CEO, on Tuesday.
read more... 05/03/2014
STEAG GmbH, one of Germany’s largest electricity producers, will get funds for 108 MW wind energy farm estimated at a cost of 200 million euro ($275.47 million), located in southeastern Romania, in the province of Dobrogea, as stated by the European Bank for Reconstruction and Development (EBRD) on Tuesday.
read more... 05/03/2014