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Three oil majors subject to EU raids over price manipulation
European anti-trust authorities have conducted unexpected raids at offices of at least three oil majors Shell, BP and Statoil, being suspected of manipulation in global oil prices over a decade, marking one of the biggest international actions since the Libor rigging scandal which shook the markets.
read more... 15/05/2013
Brief history about the Italian V Conto Energia
The first Italian National Energy Program dates 1975 when, immediately after the first oil crisis, the Parliament noticed the problem of the increasing fossil fuels prices. The objective was to design a new national energy system fossil fuel free, the only solution was to build new nuclear power reactors, but a referendum where about 70% of the Italians decided to vote against nuclear, stopped the construction of all the nuclear plants all over Italy.
read more... 15/05/2013
Daily: British gas prices decline on higher supplies from Norway
Brent crude oil prices dropped on Tuesday after a global energy regulator described world supplies as “comfortable” and after analysts’ forecasts showed strong U.S. crude inventory. Meanwhile, Brent crude oil slipped 22 cents to settle at $102.60 per barrel, after trading largely within a $1 range. U.S. light, sweet crude closed down 96 cents at $94.21 per barrel.
read more... 15/05/2013
Italy is still far away from energy independency
Italy, unfortunately, is still far away from being independent from the point of view of energy production. According to a report on renewable sources released by Svimez, Italy is still too dependent on energy from other European countries, with heavy result on costs.
read more... 14/05/2013
Daily: European power close to recent lows on weak fuel prices
Brent crude dropped to about $103 a barrel on Monday as the dollar remained firm, with renewed worries of a decline in demand growth from the United States, move which further weighed on sentiment. Meanwhile, Brent crude eased 77 cents to $103.14 a barrel by 01:43 GMT, after having settled down 56 cents on Friday and closed the week lower after gains in the previous two. U.S. oil declined 85 cents to $95.19, dropping the fourth time out of the past five sessions.
read more... 14/05/2013