Latest news
Daily: Brent and U.S. crude end lower as U.S. gasoline prices decline
Brent and U.S. crude oil futures tumbled on Friday dragged down by the decline of U.S. gasoline futures following expectations of firmer imports and as an expected U.S. Midwest-to-Gulf Coast crude oil pipeline expansion began to narrow the spread between Brent and U.S. crude prices. Meanwhile, Brent February crude slipped $1.25, or 1.12 percent, to settle at $110.64 a barrel, having traded from $109.60 to $111.95 and posting a weekly loss of 0.6 percent. U.S. crude futures eased by 26 cents, or 0.28 percent, to settle at $93.56 a barrel, having traded from $92.65 to $94.13, however posting a weekly gain of 0.5 percent.
read more... 14/01/2013
The Eastern Siberia – Pacific Ocean pipeline records 30mln tons in delivery
A representative of the Chinese Petrochina company has announced that the Siberia-Pacific Ocean pipeline which delivers oil from Russia to China has transported about 30 million tons of crude oil since it starts operating on January 1, 2011. The pipeline is considered as a key-project in the energy cooperation between Russia and the Asian country.
read more... 02/01/2013
Russia launches new oil pipeline to the Pacific
This week Russian President Vladimir Putin has announced the completion of the 4,740 km-long (2,945 miles) East Siberia - Pacific Ocean (ESPO) section, which runs between the Siberian city of Skovorodino and the Pacific port of Kozmino. The pipeline has the objective to increase sales to the United States, as sales to Europe have significantly decreased. The ESPO will reinforce the dominant position in the international crude markets.
read more... 26/12/2012
Daily: European power hits the lowest level since 2010
Brent crude oil futures declined 54 cents to settle at $107.64 a barrel on Monday, in spread trading that saw the international benchmark's premium to U.S. crude narrow by nearly $1 a barrel. Meanwhile, front-month U.S. crude oil futures climbed 47 cents to settle at $87.20 a barrel on Monday, backed by news of the impending expansion of the Seaway crude oil pipeline and optimism about a deal to avert the U.S. fiscal cliff.
read more... 18/12/2012
Russia’s Nord Stream is likely to reach UK
According to an English newspaper BP was in "secret talks" with Gazprom to develop the twin Nord Stream pipeline to Britain. The BP director for Russia David Peattie has announced that talks were in the initial phase, while the British Prime Minister David Cameron stated that it will support the project.
read more... 27/11/2012