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Turkey beats Norway as Europe’s largest oil producer
Turkey has surpassed Norway as the largest oil producer of Europe, increasing the number of its drilling rigs to 34 rigs in comparison to 26 at the end of last year.
read more... 11/01/2013
Daily: Brent and U.S. crude prices settle lower on U.S oil inventories hike
Brent and U.S. crude oil futures eased on Wednesday in choppy trading on the pressure which came from increasing U.S. oil inventories and crude oil production. Meanwhile, Brent February crude declined 18 cents, or 0.16 percent, to settle at $111.76 a barrel, having traded from $111.11 and $112.23. U.S. February crude slipped 5 cents, or 0.05 percent, to settle at $93.10 a barrel, having traded from $92.68 to $93.65.
read more... 10/01/2013
EIA: US oil production to increase by 25% by 2014
According to the Energy Information Administration, the US oil production will grow by a quarter in the next two years, to its highest level in 26 years. The US oil production would grow by 900,000 barrels per day (bpd) in 2013 to 7.3 million bpd. The reason of the increase in oil production is mainly because of the discovery of vast reserves of shale oil.
read more... 10/01/2013
China to double its installed solar power capacity in 2013
Chinese government intends to add 10 gigawatts (GW) of installed solar power capacity in 2013, up from 7 GW at the end of 2012, this new goal will more than double its installed solar power capacity in 2013 in comparison to 2012 when they suffered heavy losses because of the sliding foreign demand as Europe cuts subsidies for green power and panel prices drop by 30 per cent last year, virtually erasing firms’ profits.
read more... 10/01/2013
France unveils a new package of emergency measures for solar power industry
France's Minister of Sustainable Development has recently unveiled a new package of 'emergency' measures for the country's solar photovoltaic (PV) industry, including doubling France's feed-in tariff goal for PV plants smaller than 100 kW to 400 MW annually. In order to achieve this goal, the tariff structure has been simplified by removing building types such as schools or public buildings.
read more... 10/01/2013