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Daily: Crude oil plunges nearly 4% on doubts aver OPEC output reduction
Crude oil prices decreased by about 4 percent on Tuesday as OPEC’s top oil exporters struggled to agree on a deal to limit production in order to increase prices, with Iran and Iraq in dispute with Saudi Arabia a day ahead of the meeting. Brent futures lost $1.86, or 3.9 percent, to close at $46.38 a barrel, while U.S. crude shed $1.85, or 3.9 percent, to end at $45.23. That was the largest daily percentage decline for Brent since September.
read more... 30/11/2016
Maersk, Dong Energy mull $10 bln oil merger
Danish companies Maersk and Dong Energy envisage a $10 billion merger of their oil and gas operations to shore up their defenses against low oil prices.
read more... 29/11/2016
EDF’ s Edison will acquire Eni’s Italian energy retail business
Italian energy group Edison, a unit of French utility EDF is interested in acquiring oil company Eni’s retail business.
read more... 29/11/2016
Daily: French spot electricity price surges over 70 euros as temperatures fell
Crude oil prices firmed more than 2 percent on Monday in volatile trading, recovering losses as the market reacted to uncertain conditions that top producers will be able to agree on output reductions at a meeting on Wednesday. U.S. West Texas Intermediate crude futures rose $1.02, or 2.21 percent to settle at $47.08 a barrel. Brent crude gained $1.00, or 2.12 percent, to close at $48.24 a barrel. In post-settlement trading, oil futures paired gains on reports that OPEC experts did not agree on the details of a deal to curb production.
read more... 29/11/2016
BP acquires stake in Eni's giant Zohr gas field offshore Egypt
BP has decided to acquire 10 percent of Eni's Shorouk concession offshore Egypt, which comprises the giant Zohr gas field, for $375 million, joining other oil majors in raising bets on the developing gas market.
read more... 28/11/2016