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Daily: Crude oil prices retreat from 2016 highs on Fed rate increase speculation
Crude oil prices retreated from 2016 highs and breaking a two-day hike on Wednesday, dragged down by a stronger dollar after the U.S. Federal Reserve unveiled it could increase rates next month. Brent and U.S. crude's West Texas Intermediate (WTI) futures had boosted closer to $50 a barrel on Wednesday after large gasoline and distillate withdrawals were announced by the U.S. Energy Information Administration (EIA). Brent crude eased 35 cents to settle at $48.93 a barrel. WTI fell 12 cents to close at $48.19 a barrel after hitting $48.95 - its highest level since mid-October.
read more... 19/05/2016
Work launched at the Greek section of Trans-Adriatic gas pipeline
Greece started on Tuesday the construction on a 550-kilometre (342-mile) section of the Trans-Adriatic Pipeline (TAP) which will carry Caspian gas to European markets in an attempt to reduce their reliance on Russia.
read more... 18/05/2016
Russia could discuss gas price reduction with Belarus next week
Russia will meet with ally Belarus next week to talk about a number of disputed problems, as stated by Russian Energy Minister Alexander Novak on Friday, which industry representatives think will comprise talks about a gas price reduction.
read more... 16/05/2016
Major oil explorer Eni embarks on renewable energy expedition
Italian oil major Eni, which has generally made little investments in green energy taking into consideration its success in discovering oil and gas, plans renewable energy projects in Italy, Pakistan and Egypt.
read more... 13/05/2016
Renewables could transform the heating sector in Europe by 2040
Renewable sources could supply 49% of the energy used to heat Europe’s households by 2040, reducing natural gas demand and helping to slash carbon dioxide emissions, said the U.S. energy consulting firm IHS.
read more... 13/05/2016