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Daily: Crude oil rebounds 2 % on short covering, spurred by hope for production agreement
Crude oil prices gained about 2 percent on Friday, posting the largest weekly increase since April, after a short covering hike was spurred by comments from Saudi Arabia’s oil minister in the previous session about possible measures to help prop up the price. Brent crude futures rose 93 cents to settle at $46.97 at barrel after attaining $47.05, the highest level in more than three weeks. U.S. crude added $1 to close at $44.49 after reaching its highest level since July 22 at $44.60 per barrel.
read more... 15/08/2016
PGE will spend $472million in coal power plant upgrading
Poland's major power producer PGE anticipates it will have to spend around $471.96 million by 2020 to modernise its coal-fired power stations in order to meet European Union emission reduction regulations.
read more... 12/08/2016
Russia to become “greener” by 2030
The Russian authorities plan to develop 13 hydroelectric power stations and 15 wind power plants with power capacity of over 100 MW across the country, according to the scheme of territorial planning in the energy sector to 2030 years published on the government website.
read more... 12/08/2016
The EU allocates €187.5 million for the first Estonia-Finland subsea gas pipeline
The Estonian gas and power operator, Elering AS, and the Finnish natural gas transmission system operator Baltic Connector Oy, are planning to build a transnational gas pipeline named Balticconnector which should interconnect the Estonian and Finnish gas transmission networks.
read more... 12/08/2016
Daily: Crude oil prices rally over 4 percent on oil producers meeting, IEA tighter market forecast
Crude oil prices posted the highest level in a month, hiking over 4 percent on Thursday, after Saudi Energy Minister Khalid al-Falih stated that oil producers would discuss potential action to prop up oil prices during a meeting next month in Algeria, move that triggered a round of buying. Additionally, The International Energy Agency forecasted an ample draw in global oil stocks in the next few months that would help tighten a glut that has persisted since 2014. U.S. crude closed at $43.49 per barrel, up $1.78 or 4.3 percent, while Brent crude advanced $1.99 or 4.5 percent , to end at $46.04, after both rallied more than 5 percent during the session.
read more... 12/08/2016