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Daily: Crude oil slightly up, but pressured by an unexpected drop in US crude oil inventories
Crude oil prices posted a slight increase on Wednesday, but pressured by an unexpected drawdown in U.S. crude and gasoline inventories, offset by fears that Saudi Arabia will trigger a record output even as OPEC mulls a reduction of global glut. U.S. West Texas Intermediate crude futures ended at $46.79 a barrel, up 0.45 percent on the day or about 21 cents. Brent crude futures recovered from mid-day losses to jump 55 cents at $49.78 a barrel.
read more... 18/08/2016
Iraq launches natural gas processing plant in southeast region
Iraq started running a new natural gas processing plant for oil fields in the southeastern area on Sunday as part of a plan to employ gas that was previously flared to produce power, as stated by the oil ministry.
read more... 17/08/2016
Japan's Jera plans 42 percent reduction in long-term LNG agreements by 2030
Japan's Jera Co, the world's largest importer of liquefied natural gas (LNG), a joint venture between Tokyo Electric Power and Chubu Electric Power, intends to reduce the amount of gas it acquires under long-term agreements by 42 percent by 2030 from existing levels, as stated by the company's president.
read more... 16/08/2016
The EU allocates €187.5 million for the first Estonia-Finland subsea gas pipeline
The Estonian gas and power operator, Elering AS, and the Finnish natural gas transmission system operator Baltic Connector Oy, are planning to build a transnational gas pipeline named Balticconnector which should interconnect the Estonian and Finnish gas transmission networks.
read more... 12/08/2016
Gazprom increased sales volumes to Europe by 49% in first quarter
Russian giant Gazprom boosted gas volume to Europe by 49 percent to 58.1bn m³, an increase of 19bn m³ on 39.1bn m³ in January-March 2015. Revenues from those sales rose only 22%, as the average price declined.
read more... 11/08/2016