Latest news
Daily – oil down on stronger dollar
Crude oil futures traded lower on Monday as dollar strengthened after Japan intervened to curb the yen's appreciation and investors trimmed holdings of risky assets. NYMEX crude for December delivery traded at 93.13 dollars a barrel, down 13 cents after a trading range from 91.36 and 93.80 dollars, while ICE Brent crude for December delivery valued 109.56 dollars a barrel, down 35 cents after having traded from 108.20 to 110.33 dollars.
read more... 01/11/2011
China to invest $500 billion in electric power infrastructure
The Chinese officials announced its strategy to improve considerably the nation’s energy efficiency by 2020, as the country seeks to modernize its energy infrastructure at the domestic level and to dominate the clean energy technology markets at international level.
read more... 27/10/2011
Daily – oil mixed on increase in domestic crude stocks
Crude oil futures were mixed on Tuesday on released industry data that indicated an increase in domestic crude stocks by 2.7 million barrels previous week, much higher than predicted and as euro zone discords shut risk markets ahead of Wednesday’s European leaders meeting.
read more... 26/10/2011
BP to change its strategy on lower production
The British oil giant, BP announced its decision to sell off some $15bn (£9bn) of its assets following the Gulf of Mexico spill which took place last year, as BP engaged to pay increased returns to shareholders and to boost cash flow by 50% by 2014.
read more... 26/10/2011
EU Commission to award 12.5 billion dollars for transmission systems
As to reach its targets of generating 20% of green power of the total electricity demand, the European Commission released its energy infrastructure plan worth 9.1 billion Euros (12.5 billion dollars) as to modernized its transmission systems for its smart grid (installing new pipelines and power grids) and for the renewable energy applications for the period 2014-2020.
read more... 25/10/2011