Romania's OMV Petrom said it has made a series of oil and gas discoveries in southern Romania including its largest crude find "in decades". The discoveries could help the firm reduce the decline in its upstream production and increase the intake of domestic crude at its 85,000 b/d Petrobrazi refinery in Ploiesti.
read more... 15/06/2023
Crude oil prices gained ground on Tuesday on the back of lower-than-expected US inflation figures, which raised hopes of a pause in the Federal Reserve's interest rate hike. In addition, speculation about further Chinese economic recovery lent support. Hence, Brent crude increased by 3.4% to settle at $74.29 a barrel. At the same time, WTI crude traded 3.4% higher at $69.42 a barrel.
read more... 14/06/2023
The UK’s offshore wind capacity will need to increase by 265% to meet government targets. The UK Government seeks to grow offshore wind capacity from 13.7GW to 50GW by 2030.
read more... 13/06/2023
Crude oil prices dipped on Friday in anticipation of U.S. Federal Reserve meeting and potential interest rate increases. Hence, Brent crude decreased by 1.5% to settle at $74.79 a barrel. At the same time, WTI Crude traded 1.6% lower at $70.17 a barrel.
read more... 12/06/2023
Crude oil prices increased on Monday following the extension of production agreements by OPEC+ countries, with Saudi Arabia planning additional cuts in July. Hence, Brent crude increased by 0.8% to settle at $76.71 a barrel. While WTI Crude edged 0.6% higher at $72.15 a barrel.
read more... 06/06/2023