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Statoil gets the green light to develop its Oseberg Vestflanken 2 project
Norway’s Ministry of Petroleum and Energy has given Statoil the green light for the development of its Oseberg Vestflanken 2 project.
read more... 16/06/2016
Daily: Crude oil prices plunge for the fifth straight day on Brexit fears, Fed rate hikes
Crude oil prices dipped for a fifth consecutive session on Wednesday on fears that UK might leave the European Union, while the U.S. Federal Reserve announced plans for two U.S. rate hikes this year despite sluggish growth expectations. Brent crude futures for front-month delivery fell 86 cents, or 1.7 percent, to settle at $48.97 a barrel. The front-month in U.S. crude's West Texas Intermediate (WTI) futures lost 48 cents, or 1 percent, to close at $48.01 per barrel.
read more... 16/06/2016
Daily: European spot electricity prices evolve differently; low wind power output spurs French prices
Crude oil prices declined about 2 percent in prolonged trading on Tuesday as figures indicated an unexpected build in U.S. crude stockpiles last week, adding to the destabilization of global financial markets before the British referendum whether to leave the European Union. Brent and U.S. crude extended losses in post-settlement trading, both falling by more than $1 a barrel each. Prices tumbled for the fourth straight day with Brent down 52 cents to settle at $49.83 a barrel, while U.S. crude lost 39 cents to close at $48.49.
read more... 15/06/2016
BP inks $1.3 billion agreement with Det norske to fuse Norwegian oil and gas businesses
Norwegian company Det norske oljeselskap (Det norske) has inked a $1.3bn deal with BP to fuse with BP Norge in a bid to form the biggest Norwegian independent oil and gas producer.
read more... 14/06/2016
Daily: British gas spot price fell over 10 percent on oversupply and new LNG shipments
Crude oil prices declined on Monday, dragged down by U.S. dollar appreciation and pessimistic economic outlook in Europe and in Asia, but gained ground due to ongoing outages in Nigeria. Brent crude oil futures eased 19 cents, or 0.4 percent, to settle at $50.35 per barrel, while U.S. crude declined 19 cents, or 0.4 percent, to end at $48.88 a barrel.
read more... 14/06/2016