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Daily: Brent crude declines on sharp slowdown in China’s trade flows
Brent crude declined below $113 a barrel on Friday following a considerable slowdown in China’s trade flows which intensified concerns about demand for fuel, offsetting hopes of stimulus measures aimed at boosting the global economic growth. Brent crude for September delivery slipped 63 cents to $112.59 by 06:51 GMT, while U.S. crude traded down 39 cents at $92.97.
read more... 10/08/2012
UK can proceed with the construction of the new nuclear power station
The European Commission has approved the construction and operation of the new nuclear power plant at Hinkley Point in Sommerset, South England, has announced EDF Energy. Last month the commission presented its judgment to the UK Government, coming to the conclusion that the proposed project of the nuclear power plant at Hinkley Point accomplishes the purposes of the Euratom Treaty by contributing to develop a sustainable national energy mix.
read more... 10/08/2012
UK accepts investments from gas and oil firms
The UK government has announced a series of investments by oil and gas companies that will develop a new research centre and will create thousands of jobs all over the UK. Six separate announcements include plans for new oil and gas fields in the North Sea in a £1.4 billion project which is supposed to supply around 5% of the UK's gas production from 2015. Each announcement represents a different project that is to be built.
read more... 10/08/2012
AWEA: U.S. wind power hits 50 GW milestone
Wind power in U.S. has reached 50GW of electric generation capacity, enough to power 13 million homes and the equivalent of 44 coal-fired power plants or 11 nuclear plants, according to the American Wind Energy Association. This represents five times the country's 10 GW cumulative installed capacity in 2006 and twice of what it was installed in 2008.
read more... 10/08/2012
Daily: UK gas down on an oversupplied system
Brent crude traded above $112 a barrel on Thursday on hopes that China will offer more stimulus to support its economic growth and fuel demand.
read more... 09/08/2012