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Daily (31.07.2017): Oil prices jumped by 2% on Friday
Oil prices edged higher on Friday. U.S. crude and gasoline inventories fell higher-than-expected and the world's biggest oil exporter Saudi Arabia declared it would further reduce oil production in August. Brent crude jumped by 2% to $52.52 a barrel, while WTI price rose by 1.37% to close at $49.71 a barrel.
read more... 31/07/2017
Daily (27.07.2017): UK wholesale gas prices jumped by 5.37% on Wednesday
Oil prices continued to rose on Wednesday. The U.S. crude stockpiles fell sharply last week as refineries boosted output. Nigerian output slipped this week as leaks forced Shell to shut oil exporting pipeline. long-awaited oil market rebalancing is underway. Venezuela, an OPEC member, faces deepening economic woes and protests, the US plans to impose financial sanctions to halt dollar payments for the Venezuelan oil. Brent edged up by 1.53% to $50.97 a barrel, while WTI price jumped by 1.8% to close at $48.75 a barrel.
read more... 27/07/2017
Britain’s OGA provides new oil and gas exploration licenses
The British Oil and Gas Authority (OGA) has commenced a new round of licensing, which will focus on mature areas such as Southern, Central and Northern North Sea, West of Shetland and East Irish blocks.
read more... 25/07/2017
British Gas pays clients $1.4 million for failed schedules
Britain's biggest energy provider British Gas, possessed by utility Centrica, has paid a total of 1.1 million pounds ($1.4 million) to clients in compensation for missed or delayed appointments, as stated by the country's energy regulator on Thursday.
read more... 21/07/2017
Russia faces hardship installing Siemens turbines in Crimea
After thumbing their nose at the European sanctions and bringing gas turbines made by the German company Siemens to Crimea, Russia struggles to install them, since the company refuses to engage in anything that has to do with the equipment that was delivered to the sanction-bound region.
read more... 20/07/2017