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Daily: German and French spot electricity prices boost on lower wind
Front-month Brent and U.S. crude oil futures fell by $1.08 and 59 cents a barrel respectvely on Tuesday on worries about the impact of the U.S. budget crisis on already struggling demand. Meanwhile, Brent contract for January delivery traded as high as $110.92 a barrel during intraday activity, and declined to a low of $109.15 a barrel. WTI crude futures traded as high as $89.18 a barrel and as low as $87.57 during intraday activity.
read more... 05/12/2012
China fixed new gas output target by 2015
According to a recent development plan released on Monday by the National Development and reform Commission and approved by the State Council, China intends to add 3.5 trillion cubic meters of conventional natural gas reserves by 2015.
read more... 05/12/2012
Verbund and E.ON. ink an asset swap deal
The biggest Austrian energy company Verbund signed a deal with the E.ON. Renewable in Germany to acquire eight German hydro power plants located on the Inn and Danube Rivers.
read more... 05/12/2012
Daily: Brent crude ends lower on weak US manufacturing data
Brent crude futures ended lower on Monday after the publication of pessimistic U.S. manufacturing data that pulled down prices that rallied on bullish Chinese data and Middle East tensions. Meanwhile, Brent January crude dropped 31 cents, or 0.28 percent, to settle at $110.92 a barrel, having traded from $110.60 to $112.33.
read more... 04/12/2012
Total announces new oil discovery in North Sea
The French operator Total announces that it has made an oil discovery in the Garantiana prospect located in the Norwegian North Sea, which is expected to contain 25 million to 75 million barrels of recoverable oil and is situated 185 kilometers northwest of Bergen and 30 kilometers northeast of the Visund Field, at water depths of 384 meters.
read more... 04/12/2012