Brent crude remained unchanged below $ 108 a barrel on Friday, after retreating from a three-month high in the previous session as the expectations of more supply from non-OPEC producers and concerns about China's demand growth cut gains. Meanwhile, Brent crude for August delivery dropped 8 cents to $107.65 a barrel by 04:58 GMT, after hitting a low of $107.28. U.S. crude traded at $104.84, down 7 cents, remaining on track for a third weekly increase. It registered a considerable decline in nearly three weeks on Thursday after touching a 16-month high at $107.45, following fears of a supply squeeze at the contract's delivery point in Cushing, Oklahoma, eased on a pipeline outage.
read more... 15/07/2013
US oil giant Chevron obtained permits to drill exploration wells for shale gas in the areas in eastern Romania. Chevron will explore for shale in three blocks of 670,000 acres near the Black Sea. The permits will consent to Chevron to drill at depths of between 10 and 15 meters within an area that measure 1,800 square kilometers.
read more... 12/07/2013
The industry body European Wind Energy Association (EWEA) said in the first half of 2013 the number of new offshore wind turbines installed increased about 2-fold compared with a year ago, however financing for new projects has slowed.
read more... 12/07/2013
Brent crude traded around three-month high on Thursday, backed by the expectations that the Federal Reserve will keep its stimulus programme to support the U.S. economy, while a considerable decline in crude stocks pushed U.S. oil to near 16-month peaks.
read more... 12/07/2013
The Secretary of State for Energy and Climate Change, Ed Davey has granted consent to RWE Npower Renewables to build Triton Knoll wind farm. With up to 288 turbines, the proposed Triton Knoll wind farm would be around 60 % bigger than the London Array and could generate up to 1,200 MW of renewable energy.
read more... 12/07/2013