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Daily: U.S. crude oil prices slump on China corporate default concerns
WTI crude oil prices dropped more than $1, pressured by copper prices which hit four-year lows on fears that other companies may follow Shanghai Chaori Solar Energy Science and Technology Co Ltd, which faced corporate default last week.
read more... 12/03/2014
Germany’s reliance on Russian gas puts Europe at risk
The German Chancellor, Angela Merkel, should try to reduce German and European reliance on Russian gas in order to avoid possible aggressive steps made by Russia in the near future, as stated by Donald Tusk, Poland’s prime minister.
read more... 11/03/2014
Daily: U.S. oil drops to a three-week low as Chinese exports fell more than expected
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
Exxon plans to launch production at 10 new projects
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.
read more... 11/03/2014
Rosneft defies Gazprom monopoly to get right to export Russian gas via pipeline
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