According to a new research made by ExxonMobil, the world’s largest oil and gas firm, in about eleven years gas will be the world’s second main fuel on an energy-equivalent basis, only behind oil. Natural gas will surpass coal as a global energy source in part because of the green benefits it offers.
read more... 13/12/2013
Brent crude oil futures declined by more than $1 on Thursday as traders expected a jump in Libyan oil supply and expectations increase that the U.S Federal Reserve would soon start to unroll its stimulus program, which has backed commodity prices.
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Turkey has demanded to Azerbaijan to increase its share in Trans-Anatolian gas pipeline (TANAP), the head of Azerbaijan's state energy company SOCAR, Rovnag Abdullayev, said this week at a conference. Currently Turkey owns a 20% share in the project, while the rest of the shares belong to SOCAR of Azerbaijan.
read more... 12/12/2013
France wants to restrict state-controlled utility EDF's regulated electricity tariff increases between 2% and 3% per year or less per year over the period 2015-2018, which would see a new calculation method to take effect, said an official source in the Elysée Palace.
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According to IEA report, global oil demand in 2014 would grow at a faster rate than in 2013 thanks to accelerating world economic growth. The International Energy Agency issued a report according to which economic recovery in the advanced economies is probable to boost global oil demand.
read more... 12/12/2013