Latest news
Norway’s oil, gas exploration falls in 2020
The Norwegian petroleum directorate (NPD) said today a lack of new discoveries offshore Norway could rapidly reduce oil and gas production after 2030, as the number of exploration wells drilled this year is set to halve from 2019.
read more... 28/10/2020
Daily (19.10.2020): NBP spot reached a fresh 2020 high on Friday, due to low flows from Norway and increased demand
Crude oil prices edged lower on Friday ahead of the OPEC+ ministers’ meeting. Furthermore, doubts about demand and the worrying pace of COVID-19 pandemic also weighed on prices. Brent crude for December delivery slipped by 0.5% to settle at $42.93 a barrel, while WTI crude traded 0.2% lower at $40.88 a barrel.
read more... 19/10/2020
Norway’s Hammerfest LNG to reopen in January
Norway’s Hammerfest LNG isn’t expected to resume operations this year, as operator Equinor continues to carry out an investigation into a serious incident late last month.
read more... 19/10/2020
Daily (13.10.2020): Oil prices fell by about 3% on Monday, with WTI back below the psychological $40 level amid easing supply disruptions
Oil prices fell by about 3% on Monday due to easing supply disruptions easing in the U.S. and Libya, while the end of a workers’ strike in Norway is returning more output to a market struggling with an anemic demand. As a result, Brent crude for December delivery fell by $1.13, or 2.6%, to settle at $41.72 a barrel. Meanwhile, U.S. WTI crude for November delivery shed by 2.9%, or $1.17, to end at $39.43 a barrel.
read more... 13/10/2020
Daily (12.10.2020): European carbon prices fell to a seven-week low on Friday following heavy auction supply and Covid worries
The end of one of the oil workers’ strike in Norway led to a ramp up in crude output on Friday, thereby weighing on oil prices. Hence, Brent crude decreased by 1.1% to $42.85 a barrel. Similarly, WTI futures lost 1.8% to trade at $39.95 a barrel.
read more... 12/10/2020