Russian giant Gazprom saw a milestone production at its Arctic Prirazlomnoye field in the Pechora Sea, 60 km offshore Russia with its 10 millionth barrel of oil.
read more... 23/03/2016
Brent oil prices closed flat on Tuesday after terror attacks in Belgium, while U.S. crude futures declined, then prolonged losses in post-settlement trade on industry figures indicating larger than expected increases in domestic stockpiles. Brent crude rose 6 cents at $41.60 a barrel in post-settlement trade, after closing the session 25 cents higher at $41.79. The front-month contract of WTI crude fell 30 cents at $41.22 a barrel by 5:05 p.m. EST (2105 GMT), after the release of API report. It settled just 7 cents down at $41.45, after attaining a 2016 high of $41.90 earlier.
read more... 23/03/2016
Sweden’s Vattenfall has begun plans for one of the biggest offshore wind farms in the North Sea. Norfolk Vanguard and bordering Norfolk Boreas will each have a capacity of 1.8 gigawatts. In the meantime, a new British study expects to reduce the cost of offshore wind to 12.8 cents, which would still lead to a quarter more expensive electricity than in Germany in spite of the better or equal conditions in the UK.
read more... 22/03/2016
British energy giant BP has inked a deal with China's Shenzhen Energy for the first cross-border carbon permit buyback contract in China.
read more... 22/03/2016
Crude oil prices boosted about 1 percent on Monday after figures indicated crude stockpiles at the Cushing, Oklahoma delivery hub plunged for the first time since January and ahead of the expiration of the U.S. front-month contract. However, oil increase was capped by worries that U.S. energy companies could boost drilling again after a two-month long recovery in crude prices. Brent crude futures for May delivery rose 34 cents, or 0.8 percent, to settle at $41.54 a barrel. Brent has rebounded 53 percent from 12-year lows of $27.10 attaint on January 20. U.S. crude's futures for April delivery climbed 47 cents, or 1.2 percent, to close at $39.91, expiring as the front-month.
read more... 22/03/2016