Latest news
Italy to halve offshore exploration areas
According to a Reuters report Italy has halved the offshore areas where it will allow companies to explore for oil and gas as it is aiming to diminish the country’s reliance on energy imports. The move is projected to placate environmental groups and to hasten expansion of new deep-water prospects.
read more... 05/09/2013
UK Government will not subsidize new gas storage facilities
Energy Minister Michael Fallon has announced that the UK Government has rejected calls to subsidize new gas storage facilities, saying it would be too costly for bill payers. Ministers added that the UK gas market is functioning well in attracting gas from various sources in order to meet current and future demand and said that its decision will save bill payers more than 750 million pounds in the next 10 years.
read more... 05/09/2013
Daily: Brent prices eased as worries over a military strike in Syria eased too
Brent futures decreased on Tuesday as fears over a military strike on Syria alleviated, but stayed above $114 per barrel as investors were paying attention on forecasts of stimulation in demand growth with factory output across most of the world enhancing. Brent crude prices dropped 15 cents to $114.18 per barrel by 0309 GMT while U.S. oil fell 98 cents to $106.68 in comparison to Friday’s levels.
read more... 04/09/2013
Novatek in a gas deal with E.ON
Russia’s biggest independent gas producer Novatek, has contracted a deal with E.ON Russia, the Russian subsidiary of Germany's E.ON, to supply more gas in the period from 2014 to 2027. The deal would have a total cost of more than 8.5 billion dollars.
read more... 04/09/2013
A U.S. strike in Syria would increase significantly oil prices
According to some energy market experts, oil prices could increase significantly if the U.S. atacks Syria. Analysts from the bank Societe Generale suggest the price could eventually increase to $125 if air strikes are launched, and $150 per barrel if the military action interrupts production in the region.
read more... 04/09/2013