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Daily (28.07.2017): Brent prices soared to 2-month high on Thursday - $51.49 a barrel
Oil prices continued to rise on Thursday with support from a huge slide in U.S. crude inventories. Kuwait, UAE and Saudi Arabia, fellow members of the OPEC, have also promised export cuts. U.S. fuel exports are on track to hit another record in 2017, making foreign fuel markets increasingly important for the profit margins of U.S. refiners. Also, Europe's major energy firms are turning a corner after a 3-year slump, Royal Dutch Shell, France's Total and Norway's Statoil reported sharp rises in cash flow from second quarter operations. Brent crude jumped by 1% to $51.49 a barrel, while WTI price jumped by 0.8% to close at $48.75 a barrel.
read more... 28/07/2017
Norway government wins court appeal over lowered gas pipeline tariffs
A lawsuit brought by Solveig Gas, Silex Gas, Njord Gas Infrastructure and Infragas against the Norwegian government was ruled in favour of the government. The plaintiffs argued that Norway’s cut in gas pipeline tariff would cost them 15 billion Norwegian crowns ($1.8 billion) in lost earnings through 2028, which was illegal.
read more... 03/07/2017
Norway: Gjoea field will remain shut until the source of gas leak is found
Norway’s Gjoea oil and gas field will stay closed until the source of gas leak the obliged operator Engie to stop production on Wednesday has been found, according to the French company.
read more... 22/06/2017
Norway-Poland gas pipeline plan requires demand for 75% of capacity
A pipeline to provide Norwegian gas to Poland that will cost around 2 billion euros ($2.23 billion) will only be constructed if there is demand for minimum 75 percent of the gas it can convey, one of the associates in the project told Reuters.
read more... 19/06/2017
Norway prohibits the use of heating oil in buildings
Norway will ban the use of oil and paraffin to heat buildings starting from 2020 to cut domestic emissions of heat-trapping greenhouse gases, the government spokesman declared on Thursday.
read more... 16/06/2017