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UK oil and gas output to take hit as drilling slumps to lowest since 1970s
Drilling activity in the UK oil and gas sector this year is set to slump to the lowest level since the 1970s, with lower activity expected to negatively impact production in 2021-22, and fears for the competitiveness of the overall North Sea basin, industry group Oil & Gas UK said Nov. 11.
read more... 12/11/2020
UK Warning Highlights Energy Storage Importance To Renewables
The United Kingdom, which has recently set a record for wind power meeting its demand, issued a security of supply alert earlier this week as wind power output was low due to calm weather. This event highlights the need of increased energy storage capacity able to balance power to the grid at times of strained supply, energy historian and expert Ellen R. Wald wrote in Forbes.
read more... 09/11/2020
Daily (03.11.2020): Oil prices rebounded sharply on Monday as Russian producers may support OPEC extension of output cuts
Crude oil futures rebounded sharply on Monday after Russian oil producers declared that they may be willing to extend the OPEC+ oil output cut accord if current unsupportive market conditions persist. Hence, Brent crude surged by $1.51 or 4%, to close at $38.97 per barrel, while US benchmark WTI crude soared by $1.02 or 2.9% to settle at $36.81 a barrel.
read more... 03/11/2020
U.S. drillers add most oil and gas rigs in a month since May 2018
The oil and gas rig count, an early indicator of future output, rose for the ninth straight week, growing by nine to 296 in the week to Oct. 30, energy services firm Baker Hughes Co said
read more... 02/11/2020
OMV Petrom on track to exceed 2019 power output
OMV Petrom, Romanian arm of Austria's OMV, boosted its third-quarter power output on the year, spurred by higher spark spreads. Full-year generation is now on track exceed both 2019's level and the firm's 2020 target.
read more... 30/10/2020