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Daily energy Overview, Thursday, May 20, 2011
Oil increased on Friday driven more by a weaker dollar and firmer stock markets in Europe and Asia than by supply and demand fundamentals. Oil prices consolidated this week after both crudes lost between $15 and $20 in the prior two weeks. By 10:00 GMT, U.S. light crude oil futures for June, which will expire later on Friday, traded at $99.08 per barrel, up 64 cents, after hitting an intra-day high of $99.60. Meanwhile, Brent crude for July traded at $111.87, up 45 cents.
read more... 20/05/2011
Daily energy Overview, Thursday, May 19, 2011
Daily energy Overview, Thursday, May 19, 2011 Oil prices surged on Wednesday after the weekly U.S. Energy Information Administration report indicated a drop in crude stocks and on an increase across commodities markets. U.S. crude for delivery in June traded at 100.10 a barrel, lifting 3.19 dollars, after a trading range from 97.46 and 100.99 dollars. Meanwhile, ICE Brent crude for July delivery settled at 112.30 dollars a barrel, up 2.31 dollars, after a trading range between 110.42 and 113.10 dollars.
read more... 19/05/2011
BP to sell a package of U.K. assets to Perenco for up to $610 million
The British oil giant BP Plc announced on Tuesday a deal to sell its interests in the Wytch Farm, Wareham, Beacon and Kimmeridge oil fields in the UK to European oil and gas company Perenco UK Ltd. for up to $610 million in cash, as it plans to equilibrate its balance sheet following the last year’s Gulf of Mexico oil spill. Under this deal, BP aims to divest about $30 billion per year.
read more... 18/05/2011
RenewableUK warns on offshore wind targets
According to the Chief Executive Officer of RenewableUK, McCaffery, an increase in the offshore wind energy share by 40% until 2030 is necessary to open up to 50,000 jobs in offshore wind market over the next ten years.
read more... 13/05/2011
BP gets green light to explore Brazilian oil blocks
The British energy giant, BP finally received the permission from regulators to complete the purchase of ten Brazilian exploration and production blocks from US-based Devon Energy.
read more... 13/05/2011