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Daily: Crude oil plummets on Chinese economy downturn, increase in U.S. crude inventories
Crude oil prices ended lower on Tuesday, dragged down by signs of a downturn in Chinese economy and an increase in U.S. crude inventories for the second consecutive week. However, Brent crude losses were capped by endless production outage in Libya and South Soudan, whereas U.S. light crude was pulled down by plummeting gasoline future prices amid weaker demand for the fuel.
read more... 26/02/2014
Cyprus: natural gas drilling is likely to continue despite Turkish threats
The Greek Cypriot government promised that extraction and drilling of natural gas offshore Cyprus will continue, even though Turkey has threatened to block these operations since it thinks the energy assets partly belong to Turkish Cypriots.
read more... 25/02/2014
EnviTec implemented two new biogas plants in the Czech Republic
EnviTec Biogas AG, headquartered in Germany, has implemented and put into operation 2 biogas plants with 999 kW each in December last year.
read more... 25/02/2014
Centrica profits drop since 2% of customers spread out
Centrica’s profits fell 2% in 2013, whereas profits at its residential supply division British Gas reduced by 6%, mainly because of intense political and media scrutiny on the energy sector in the UK, as stated by the company’s chief executive, Sam Laidlaw.
read more... 24/02/2014
Coal consumption keeps growing in China
China is dealing with a big air quality problem, so recently the Government has announced that they will reduce their coal consumption share from its current 67 percent to 65 percent by 2017. The country intends to convert coal in syntethic gas, but this will result in more carbon dioxide emissions released because converting coal to make synthetic gas and then combusting the gas to make electricity will double the amount of carbon dioxide emissions released in the atmosphere.
read more... 21/02/2014