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Shell To Exhaust Dwindling Oil & Gas Reserves By 2040
Shell expects to have produced 75 percent of its current proved oil and gas reserves by 2030, and only around 3 percent after 2040, the supermajor said in its Energy Transition Strategy that it will put to a non-binding shareholder vote next month.
read more... 16/04/2021
Daily (13.04.2021): British gas prices rose on Monday amid cold weather, tight supply and bullish energy complex
Oil prices continued to fluctuate in a narrow range on Monday, spurred by signs that demand is recovering in key markets like India and the United States. Moreover, reports that Yemen's Iran-backed Houthi rebels attacked a Saudi oil facility, lifted tensions in the oil-rich Middle East. Hence, Brent crude added 0.5% to settle at $63.28 a barrel. U.S. WTI crude rose by 0.6% to end at $ 59.70 a barrel.
read more... 13/04/2021
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Russia Tightens Its Grip On Europe's Natural Gas Markets
A much-used proverb says: a good neighbor is better than a distant friend. Nowhere is it more suitable than the EU’s position vis-a-vis its largest and most important neighbor: the Russian Federation. Current relations are the worst since the end of the Cold War. Despite the often rocky interaction, the European and Russian economies are highly complementary. This has led to a level of dependence that has become a problem for certain countries.
read more... 13/04/2021
Europe risks €87 billion in stranded fossil gas assets
Fossil gas consumption needs to decline 36% from 2020 to 2030, according to the European Commission, but the planned public and private investment would see an increase of 35% from the current import capacity.
read more... 12/04/2021
Daily (09.04.2021): NBP spot rebounded on Thursday amid cold weather and weaker supply
Crude oil prices closed on a mixed note on Thursday, as demand concerns driven by the rise in COVID-19 cases around the world and bigger-than-expected weekly increase in U.S. gasoline stocks pressured the market. Hence, Brent crude settled at $63.20 a barrel, while WTI crude lost 0.3% to end at $59.60 a barrel.
read more... 09/04/2021