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Daily: Gas prices down on an oversupplied system
Oil prices dropped on Wednesday, with U.S. crude reducing by about 3 percent, on renewed worries over oversupply, due to an unexpected huge inventory in the world's biggest oil consumer. U.S. West Texas Intermediate (WTI) futures settled down at $46.77 per barrel, decreasing by $1.33, or 2.8 percent. Brent crude futures dropped by 91 cents, or 1.8 percent, arriving at $49.05.
read more... 25/08/2016
Daily: Oil prices up on news of Iranian support
Tuesday saw the oil prices going up, after rumors that Iran is sending positive signals that they could support an OPEC joint action by limiting this way the market to prop up. Brent crude increased 80 cents, or 1.6 percent, arriving at $49.96 a barrel. U.S. West Texas Intermediate (WTI) crude increased 69 cents, or 1.5 percent, to close at $48.10.
read more... 24/08/2016
Global shale oil production is likely to more than double by 2040
Global shale oil production will more than double between 2015 and 2040.
read more... 24/08/2016
Daily: Oil prices down on growing Chinese fuel exports
Oil shed more than 3 percent on Monday, declining from last week's two-month highs, on concerns about growing Chinese fuel exports, with China's July diesel and gasoline exports increasing 181.8 percent and 145.2 percent, respectively, putting this way pressure on refined product margins.
read more... 23/08/2016
Work begins on 385 MW Baltic Sea wind farm
Germany-based utility company E.ON and Norwegian oil and gas firm Statoil have started on Thursday the construction of the 385 MW Arkona offshore wind project, a new wind farm situated 35 kilometers northeast of the island of Rugen in the German Baltic Sea.
read more... 23/08/2016