Latest news
Iraqi cabinet approved raw gas agreement
Recently, the Iraqi Government confirmed an agreement with Mitsubishi Corporation and Royal Dutch Shell creating a joint venture, called Basrah Gas Company (BGC) for gathering raw gas from three large oil fields, Rumaila, Zubair, West Qurna 1 and Majnoon situated in the southern part of the country. This is an important move toward reducing greenhouse-gas emissions, building a reliable energy supply and attracting more investments in the country.
read more... 17/11/2011
Spain to focus on renewables
Spain is a fast developing renewable energy country and it is expected to move towards by supporting even more expensive energy commodities. Three Spanish companies, Iberdrola, Gas Natural and Endesa registered heavy incomes benefiting from the renewable boost. The chairman of Iberdrola, Sanchez Galan said the company made wrong steps with the development of solar PV power, and will make efforts to avoid such “moving” relative to solar thermal power.
read more... 16/11/2011
Daily – gas prices jump to a one-week high level
U.S. and Brent crude oil futures increased less than expected on Tuesday after US industry data indicated a growth in domestic crude stocks previous week despite forecasts for a decrease in crude stocks. By 21:30 GMT, NYMEX crude for December delivery settled at 99.39 dollars a barrel, gaining 1.25 dollars, while ICE Brent crude for December delivery expired and traded at 112.39 dollars a barrel, up 50 cents after a trading range between 111.62 and 113.14 dollars.
read more... 16/11/2011
Largest gas exporters to discuss over long-term contracts and fair gas prices
World’s largest gas exporters leaders, among which the Iranian President Mahmoud Ahmadinejad, Algerian leader Abdelaziz Bouteflika and the head of Libya’s National Transitional Council, Mustafa Abdul Jalil, participated at their first summit on Tuesday in the capital of Qatar, Doha, two days after a ministerial meeting of the 12-nation Gas Exporting Countries Forum (GECF) took place.
read more... 15/11/2011
EU Energy community to benefit from the Third Energy Package
The European Union Third Energy Package was recently approved by the Ministerial Council of the Energy Community relative to the internal electricity and gas market, known also as TEP Decision. Now energy investors across South East Europe will have to act in accordance with this new decision. Following that, Energy Community contracting members have to transpose it into a national law by January 2015.
read more... 14/11/2011