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Daily (06.01.2017): Oil settles higher as Saudi production cuts counterbalance U.S. products build
Oil prices rose on Thursday in an up-and-down session, boosted by news that Saudi Arabia had limited production to meet OPEC's pact after data have shown a significant rise in U.S. gasoline and distillate inventories.
read more... 06/01/2017
Egypt inked natural gas and oil exploration deal with Italy's Edison
Egypt's state-controlled Egypt Natural Gas Holding (EGAS) has inked a $86 million deal with Italy's Edison for natural gas and oil exploration in the Mediterranean, as stated by the Egyptian Petroleum Ministry on Thursday.
read more... 06/01/2017
Statoil unveils strong increase in exploration drilling in 2017
Statoil, the Norwegian multinational oil and gas company, announced that it plans to drill around 30 exploration wells in 2017, an increase of around 30 percent compared to last year. More than half of the wells will be drilled on the Norwegian Continental Shelf (NCS).
read more... 05/01/2017
Daily (05.01.2017): German spot electricity contract surges 85% on cold snap, decrease in wind supply
Crude oil prices rebounded about 2 percent on Wednesday on expectations that U.S. crude stockpiles will decline and on signs that the world's top oil exporters will cut the output as agreed, move that took effect this week. Global benchmark Brent crude futures boosted 99 cents, or 1.8 percent, to close at $56.46 a barrel. U.S. West Texas Intermediate crude futures rose by 93 cents to settle at $53.26 a barrel, also a 1.8 percent gain.
read more... 05/01/2017
Gazprom set to regain its share in Lithuania’s gas market in 2017
In the last days of 2016, the biggest Lithuanian gas buyers inked contracts with Russian giant Gazprom which is expected to surpass Norway’s Statoil in terms of the bulk of the country’s gas needs for 2017.
read more... 04/01/2017