U.S. crude oil dropped over a $1 per barrel on Monday, touching a three-week low, dragged down by a surprisingly fall in Chinese exports that increased fears of an economic slowdown in China. Meanwhile, U.S. oil eased by $1.46 to settle at $101.12 a barrel, the weakest level since February 14. Brent crude ended 92 cents lower at $108.08 after two consecutive days of gains.
read more... 11/03/2014
ExxonMobil Corp., the super giant oil company, has the intention to reduce expenditures and to begin production simultaneously at 10 significant projects this year, adding to its portfolio a net capacity of 300,000 barrels of oil equivalent per day.
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The major oil producer in Russia, Rosneft, plans to break domination of another energy important company, Gazprom, to export gas through pipelines, leading to an explosion between the major clans, according to some sources on Friday.
read more... 10/03/2014
Greece revealed on Friday a draft law to reduce solar power prices by almost 30% aiming to cover a financial gap of approximately 1 million euro in the energy sector’s funds. Meanwhile, a price slash of about 5% is estimated for wind energy producers.
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Areva nuclear group, based in France, has made an essential step in talks with the Niger government on new contracts to extract uranium, as stated on Friday by Luc Oursel, the chief executive officer of the company.
read more... 10/03/2014