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IEA report: Oil demand likely to reduce in 2017, non-OPEC countries seen rising production
The demand for oil is anticipated to decrease from 1.6 million barrels a day in 2016 to 1.4 million barrels a day in 2017 which will add more issues for the producers while they could try to increase prices, as indicated in the International Energy Agency report published earlier this week, based on the early 1st quarter indicators showing slowdowns in Japan, Germany, Korea and India in January 2017.
read more... 16/03/2017
Ireland: ESB launches a new €820m power station at Carrington, UK
A new €820m gas-fired power station has been launched by Ireland-based energy company Electricity Supply Board (ESB) at Carrington, close to Manchester, UK.
read more... 16/03/2017
Daily (16.03.2017): Oil prices record the first rebound in a week as U.S. stocks retreat
Crude oil prices rebounded for the first time in more than a week on Wednesday on an unexpected decline in U.S crude stockpiles and figures from the International Energy Agency (IEA) showing that OPEC cuts could trigger a crude deficit in the first half of 2017.
read more... 16/03/2017
Poland: Baltic Pipe gas project to become operational by 2022
Poland's state-run oil and gas firm PGNiG is convinced that a new pipeline system to import gas from Norway via Denmark and the Baltic Sea will be ready by 2022.
read more... 15/03/2017
Verbund to continue operation of Mellach combined cycle gas turbine power plant
Austrian hydropower-focused utility Verbund has abandoned plans to sell its Mellach gas-fired power plant in the province of Styria, as the purchase offers of potential buyers did not meet management's expectations.
read more... 15/03/2017