Latest news
OPEC output drops in March
According to a survey released by Platts, the 12-member Organization of the Petroleum Exporting Countries' (OPEC) crude oil output dropped in March by 630,000 barrels per day to 29.17 million b/d, following the loss of 930,000 b/d of Libyan production and the failure of Saudi Arabia’s supply to face the decline in Libyan.
read more... 15/04/2011
Daily energy Overview, Wednesday, March, 30, 2011
U.S. and Brent crude ended higher on Tuesday in thin volume trading supported by stronger equities and uncertainty regarding a fast return of Libyan oil exporting operations. On the NYMEX market, the U.S. crude for May delivery increased by 0.78 percent being traded at 104.79 dollars a barrel, while ICE Brent crude for May delivery gained 36 cents settled at 115.16 dollars a barrel, after registering a trading range between 113.52 and 115.64 dollars.
read more... 30/03/2011
Russia may benefit from the Japanese crisis
Russia's reputation as a dependable energy exporter was badly denigrated by a series of pricing disputes with Ukraine which led to disruptions of Russian gas supply to Europe in the middle of winter. Additionally, Moscow was accused of using its natural riches to put pressure on its neighbors.
read more... 28/03/2011
Iran sees No Reason for OPEC Extraordinary Meeting
Iranian Oil Minister Masoud Mirkazemi, the actual OPEC president, declared on Sunday that despite the oil hike of over $100/barrel, there was no need to hold an emergency meeting of the oil producers, members of the Organisation of Petroleum Exporting Country (OPEC).
read more... 28/03/2011
The impact of Yemen unrest on its LNG export
French oil giant Total warned buyers of liquefied natural gas from Yemen that shipments from the country could face cuts due to increasing political unrest, although the LNG production remains normal for now. If the violent manifestations continue, they would lead to a further force majeure on export.
read more... 24/03/2011