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Daily: European forward power prices rally to seven-week high on stronger gas, coal price, upbeat macroeconomic data
Crude futures increased by about 2 percent on Tuesday, with the bounce attributed to technical price triggers, expectations for a weekly decline in U.S. crude supplies and gasoline demand. However, a stronger dollar did little to temper the hike. Brent crude futures rose by $1.11, or 1.8 percent, to close at $64.45 a barrel. U.S. crude futures closed at $61.01, up 63 cents, or 1 percent.
read more... 24/06/2015
BP inks LNG supply deal with Egypt amid its severe gas shortage
British oil giant BP has inked a deal to supply 16 cargoes of liquefied natural gas (LNG) through 2015 and 2016 to state-owned Egyptian Gas (Egas). The final quantity is less than 21 cargoes as previously envisaged.
read more... 24/06/2015
Fukusima is turning to offshore wind power
Japan has officially announced a huge floating wind turbine of 7 MW, the largest offshore turbine in the world, located about 12 miles off the coast of Fukushima, in the port of Onahama.
read more... 23/06/2015
Serbia to restructure its state-owned utility Elektroprivreda Srbije
Serbia is eyeing a 200 million-euro ($227 million) loan from the European Bank for Reconstruction and Development (EBRD) to help restructuring its power utility Elektroprivreda Srbije (EPS).
read more... 23/06/2015
Netherlands to slash production at Groningen gas field at 30 bcm
Production at the Groningen gas field will be capped further his year, as decided by Dutch Economy Minister Henk Kamp on Monday.
read more... 23/06/2015