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Daily: Oil slips below 114 dollars on Chinese data
Brent oil fell below $114 a barrel on Monday on concern about China’s demand growth as manufacturing activity in the world’s second-biggest oil consumer pulled back from two-year highs. Brent increased 42 cents to $114.52 a barrel by 0905 GMT. Meanwhile U.S. oil rose 30 cents to $93.43, after falling to as low as $92.96, near a more than one-month trough of $92.44 hit in the previous session.
read more... 25/02/2013
EU to get its first oil and gas law
The EU proposed on Thursday its first law to regulate safety in offshore oil and gas drilling which aims to ensure that world's highest safety, health and environmental standards are implemented across the EU, in order to prevent any repeat of BP's catastrophic Gulf of Mexico spill.
read more... 25/02/2013
China: energy consumption increased 3.9% last year
According to a recent report released by the National Bureaus of Statistics the country used the equivalent of 3.62 billion tones of coal, corresponding to about 66,4% of the total energy consumed, at the same time as oil and natural gas made up something like 18.9% and 5.5%, respectively.
read more... 25/02/2013
China to introduce a carbon tax
China has announced it will establish a carbon tax by adding CO2 to the scope of existing environmental levies. According to a senior official with the Ministry of Finance, China will introduce a set of new taxation policies intended to protect the environment, including a tax on carbon dioxide emissions.
read more... 25/02/2013
Daily: UK gas settles higher during cold weather
Brent crude and U.S. crude oil futures eased by more than 1 percent and 2.5 percent respectively on Thursday, dragged down by bearish economic data and the U.S. Federal Reserve’s possibility to slash its economic stimulus program.
read more... 22/02/2013