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Daily (26.05.2017): Oil prices fell sharply by 5% on Thursday after OPEC’s meeting

Oil prices fell sharply on Thursday after an OPEC delegate said the oil producer group had decided to extend cuts in production by 9 months to March 2018. That statement disappointed several investors, who had expected that OPEC might reduce output even further to drain a global glut.

read more... 26/05/2017

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OMV and ADNOC decide to explore opportunities for collaboration

Austrian oil and gas conglomerate OMV and Abu Dhabi National Oil Company (ADNOC) decided on Thursday to explore opportunities for cooperation, among others in downstream projects.

read more... 26/05/2017

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Daily (25.05.2017): European electricity prices fell 13% on Wednesday

Oil prices slightly decreased on Wednesday as investors waited for news from Vienna where ministers from OPEC and other exporting countries were talking about the option to extend production cuts into the first quarter of 2017.

read more... 25/05/2017

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Statoil will launch production at Gina Krog oil and gas field in June

Norwegian Petroleum Directorate (NPD) declared on Wednesday it has given approval for Statoil to start operations at the Gina Krog oil and gas field in the North Sea.

read more... 25/05/2017

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Daily (24.05.2017): EU carbon prices slipped back from a one-month high on Tuesday

Oil futures varied on Tuesday, as oil prices fell earlier in the session following the news highlighting president Donald Trump's plan to sell off half of the United States' petroleum reserves. However, as OPEC's leader, Saudi Arabia, favors extending the output curbs by nine months rather than the initially planned six months, the oil prices increased to settle slightly higher.

read more... 24/05/2017

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