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Iran to strike its first post-sanction oil supply deal with Greece
The National Iranian Oil Company of Iran inked a deal to supply oil to Greece’s main oil refiner, Hellenic Petroleum, following removal of sanctions.
read more... 25/01/2016
Eni CEO says Iran requires $150 billion of energy investment
Iran's emergence from economic sanctions will aid Europe to diversify its energy supplies, but the Islamic Republic will require to invest minimum $150 billion in infrastructure to turn into a major producer, the CEO of Italy's Eni SpA stated on Sunday.
read more... 18/01/2016
Daily: Oil prices down for a fifth consecutive day, posting 10% decline on the week
Crude oil prices plunged for a fifth consecutive day on Friday, down 10% on the week, and Goldman Sachs argued more losses were needed to oblige producers to slash supplies enough to balance the oversupply and pessimistic outlook in the market. Brent eased 20 cents to settle at $33.55 a barrel. It attained a session low of $32.78, after decreasing on Thursday to $32.16, the weakest level since April 2004. For the week, Brent shed 10 percent, just behind the 11 percent decline in the opening week of 2015, which was a record loss for oil in the first full trading week of any year. WTI closed 11 cents lower at $33.16. It dropped to $32.64 earlier in the day, after slipping to $32.10 on Thursday, its lowest level since December 2003.
read more... 11/01/2016
Turkmenistan increases gas export capacity with East-West connection
Turkmenistan on Wednesday finalized a pipeline that can transport gas from the world's second biggest gas field to the West or, alternatively, increase eastbound deliveries to China and, in future, to Pakistan and India.
read more... 24/12/2015
Daily: European forward power prices sink on lower spot demand due to milder weather
WTI crude rebounded by about 2 percent on Monday, recovering modestly from 11-year lows. Both global benchmark Brent and WTI crude have declined aftermath an OPEC meeting on December 4 which resulted in removed production ceiling, worsening the global crude oversupply. Brent futures for January delivery shed 1 cent to settle at $37.92 a barrel. U.S. crude increased 69 cents, or 1.94 percent, to close at $36.31.
read more... 15/12/2015