Latest news
OPEC to revise its oil demand forecast downward in 2013
Global oil demand growth could be revised slightly downward of forecasts in 2013, according to the Organization of the Petroleum Exporting Countries (OPEC), dragged down by economic uncertainty in the euro zone and United States, as well as U.S. supply will hit its highest level in three decades, slashing the need for oil from the 12-member producer group.
read more... 13/03/2013
Daily: Brent crude drops on bearish data from China
Brent crude oil futures dropped on Monday, dragged down by pessimistic data from China, the second oil consumer in the world, however settling well above the session low. Brent crude for April delivery dropped 63 cents, or 0.57 percent, to settle at $110.22 a barrel, after having hit $110.72 and fallen to as low as $109.53.
read more... 12/03/2013
Eni had made important oil discovery in Egypt
Italian energy company Eni has announced on Wednesday that it had made a new oil discovery, at the NFW well “Rosa North 1X‘, located in the Meleiha Concession, in the Western Desert of Egypt, as Eni plans to consolidate exploration activities in the country.
read more... 07/02/2013
Daily: European power prices decreased on a major wind power production in Germany
Crude oil was down on Thursday on concerns about looming U.S. budget discussions and signs of increasing anxiety by the U.S. Federal Reserve about buying bonds to spur economic growth. The U.S. budget crisis was under strongly surveillance by the oil markets , as well as steady problems in the euro zone, for signs over a possible decrease in fuel demand.
read more... 04/01/2013
CCS: the solution to reduce CO2 emissions
The CCS technology consists of capturing the CO2 from burning fossil fuels and storing it in deep geological formations, this way it will not boost the greenhouse gases. Technology exists to capture the emissions of factories and other industrial processes such as natural gas processing as well as power plants that burn fossil fuels or even biomass.
read more... 03/01/2013