Norwegian energy giant Statoil has launched $200m (NOK 1.7bn) venture capital fund to invest in renewable energy sector.
read more... 17/02/2016
Brent oil lost almost 4 percent on Tuesday, slashing early gains after top producers Russia and Saudi Arabia agreed to freeze oil output at near-record levels, the first coordinated move by the world’s two largest producers to counter a decline that has hit economies, markets and companies. Brent fell $1.21 to settle at $32.18 a barrel, after increasing earlier to $35.55. U.S. crude declined 40 cents at $29.04, off the day's peak of $31.53.
read more... 17/02/2016
Crude oil prices edged higher on Monday, prolonging an increase triggered last week by hopes that OPEC might agree to slash output to reduce oversupply that has dragged down prices to their weakest level in a decade. Brent crude futures, the global benchmark, rose 21 cents at $33.57 a barrel at 14:28 GMT. U.S. futures stood at $29.68 a barrel, up 24 cents on Friday's settlement. Trade was thinner than usual on Monday due to the U.S. Presidents Day holiday.
read more... 16/02/2016
Iran has exported its first crude oil shipment to Europe since international sanctions ended, raising worries that more supplies will be added to the worldwide glut.
read more... 15/02/2016
Global oil prices soared as much as 12 percent on Friday after the release of a report indicating OPEC might finally agree to slash production to curb the oversupply. WTI crude's front-month boosted $3.23, or 12.3 percent, to close at $29.44 per barrel, attaining a session high of $29.66. It reached a 12-year low of $26.05 the previous day. For the week, it declined 4.7 percent. Brent rose by $3.30 to settle at $33.36 a barrel, having declined below $30 on Thursday. Weekly losses retired to 2 percent.
read more... 15/02/2016