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Daily: German power prices up on lower solar power production
On Thursday, Brent crude remains above 110 dollars per barrel on optimistic data from China, the world's second largest oil consumer after the U.S. The U.S. crude oil benchmark, WTI, was traded at a discount to Brent of $5.50 after signs that US firms were diverting oil to Cushing, Oklahoma storage hub for the first time in the last year
read more... 23/08/2013
Daily: British gas prices down on an oversupplied system
Brent crude oil futures fell on Wednesday below $110 per barrel on reports that some Libyan oil exports might soon start again, while the Seaway crude oil pipeline had close, halting shipments from the U.S. Midwest to the Gulf Coast.
read more... 22/08/2013
UK oil and gas industry received record levels of investments
Trade body Oil & Gas UK, has recently released a new report according to which investments the North Sea are the highest in the last 30 years and continues to rise. It has revealed that investments in the UK Continental Shelf projects reached little more than £11 billion last year, and this figure is likely to rise by a further £2 billion this year.
read more... 22/08/2013
China to have its first floating terminal for LNG imports
China National Offshore Oil Corp (CNOOC) has announced it has obtained the permit to build its first floating terminal for liquefied natural gas in the northern port city of Tianjin. China, being the world biggest energy consumer, intends to increase the share of natural gas in its energy mix to 8% in the next two years, from the current 5 % in a move which aims to cut emissions from coal-fired power stations and reduce the reliance on oil imports.
read more... 22/08/2013
Daily: European power prices drop on higher solar and wind output forecast
Brent crude oil futures jumped on continued worries about eventual supply disruptions in the Middle East, reversing losses caused by concerns about the U.S. Federal Reserve's monetary easing policy. Brent crude oil futures for October delivery closed 25 cents higher at $110.15 per barrel, after trading as low as $108.61 earlier in the session.
read more... 21/08/2013