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Norway awards new offshore drilling licenses in Barents Sea for the first time in 2 decades
Norway’s government awarded on Wednesday 10 new licenses for offshore oil and gas exploration in the Barents Sea, including three in previously untapped waters near the Russian border.
read more... 19/05/2016
Daily: Crude oil prices retreat from 2016 highs on Fed rate increase speculation
Crude oil prices retreated from 2016 highs and breaking a two-day hike on Wednesday, dragged down by a stronger dollar after the U.S. Federal Reserve unveiled it could increase rates next month. Brent and U.S. crude's West Texas Intermediate (WTI) futures had boosted closer to $50 a barrel on Wednesday after large gasoline and distillate withdrawals were announced by the U.S. Energy Information Administration (EIA). Brent crude eased 35 cents to settle at $48.93 a barrel. WTI fell 12 cents to close at $48.19 a barrel after hitting $48.95 - its highest level since mid-October.
read more... 19/05/2016
Statoil to build world’s largest offshore floating wind farm in Scotland
Statoil, the Norwegian energy company, was awarded a lease to use the seabed off the east coast of Scotland to build the world’s largest floating offshore wind farm.
read more... 18/05/2016
Daily: U.S. WTI crude hits the highest level in seven months at $48.31/bbl
Crude oil prices rebounded for a second consecutive day on Tuesday, with U.S. futures attaining seven-month, on expectations of a decline in U.S. crude inventories and a new wildfire risk on Canadian oil supplies. U.S. WTI crude jumped 59 cents, or 1 percent, to end at $48.31 a barrel. The session high was $48.42 while the post-settlement peak was $48.76. Brent crude rose by 31 cents to settle at $49.28, reaching a six-month high of $49.58. In after-hours trade, it hit $49.75.
read more... 18/05/2016
Daily: Crude oil rockets at six-month highs on supply disruptions, Goldman forecast
Crude oil prices attained six-month highs on Monday on concerns about global supply disruptions and after Goldman Sachs said the market had ended almost two years of oversupply and flipped to a deficit, although an inventory increase at the U.S. storage hub for crude futures curbed gains. Brent crude futures rose $1.14, or 2.4 percent, to settle at $48.97 per barrel. It hiked to $49.47 earlier, its highest level since early November, in a trade towards $50. U.S. crude's West Texas Intermediate (WTI) futures boosted $1.51, or 3.3 percent, to close at $47.72 after reaching a six-month high at $47.85.
read more... 17/05/2016