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Daily: Oil crude prices plunge on oil crisis end in Libya
Both crude oil benchmark contracts dropped on Thursday as supply worries started to attenuate after Libyan government has reached a deal with rebels to end the oil crisis that has curbed exports from the OPEC member. Brent hit a session low of $110.53 before paring losses ahead of the settlement. U.S. oil slipped 42 cents to close at $104.06 a barrel, after plunging as low as $103.67 earlier in the session, posting a three-week low.
read more... 04/07/2014
Oil major Total starts Edradour gas fields expansion
French oil major Total decided to expand the Edradour gas field, in the West of Shetland region, after negotiating less elevated prices with contractors, as well as purchasing a 60 percent stake in the adjacent Glenlivet field, according to the company on Thursday.
read more... 04/07/2014
GDF Suez: Mirfa electricity and water agreement signed in Abu Dhabi
French utility GDF Suez declared it signed a power and water accord with the Abu Dhabi Water and Electricity Company for a period of 25 years, since it aims to capitalize on increasing demand in the area.
read more... 04/07/2014
EU utilities to be negatively affected by low energy prices until 2020
Low wholesale power prices will make Europe's utilities suffer, corroding their revenues until the end of the decade since increasing renewable production and low demand integrate, according to the rating agency Moody on Wednesday.
read more... 03/07/2014
France: Total’s LPG distribution business to be purchased by UGI
U.S. utility UGI is to acquire Total's liquefied petroleum gas (LPG) distribution business in France for approximately 400-450 million euros ($545-$613 million), denoting another step in the efforts of the French oil huge conglomerate to get rid of assets in older markets to enhance profits.
read more... 03/07/2014