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Daily: Oil settles lower as OPEC output increases
Crude oil prices tumbled on Wednesday after OPEC unveiled another monthly rally in output and prolonged losses in post-settlement trade as industry figures indicated the first increase in six weeks. The OPEC said the production boosted in September to the highest level in at least eight years. Brent crude ended down 60 cents, or 1.1%, at $51.81 a barrel. U.S. West Texas Intermediate (WTI) crude shed 61 cents, or 1.2%, to settle at $50.18.
read more... 13/10/2016
General Electric Buys LM Wind Power
General Electric (GE) has unveiled it will acquire LM Wind Power, the world’s largest wind turbine blade supplier, for a total of $1.65 billion, boosting the renewable-energy business amid increasing needs for clean power.
read more... 12/10/2016
Turkish Stream gas pipeline construction will start in 2018
According to Alexei Miller, chairman of Russian state-owned energy giant Gazprom, the construction work on the Turkish Stream project will start in 2018, in accordance with the latest intergovernmental agreement which has been signed on Monday.
read more... 12/10/2016
German energy watchdog to cut power, gas grid fees
German Federal Network Agency (BnetzA) cut fees for the country's power and gas grids for five years on Wednesday.
read more... 12/10/2016
Daily: British gas prices diverge, with day-ahead up due to tight supply
Crude oil prices settled down on Tuesday, retiring from one-year highs amid uncertainty how rapidly global oil supply could be reduced in line with demand even if OPEC and Russia agreed to a steep production limitation. On Tuesday, Brent crude lost 73 cents, or 1.4%, to settle at $52.41 a barrel, retreating from a one-year high of $53.73 reached on Monday. US West Texas Intermediate (WTI) crude declined 56 cents, or 1%, to end at $50.79.
read more... 12/10/2016