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Carbon: analysts slash price forecasts; EU steps back from strategy talks
Analysts forecast European Union carbon permit prices in the second half of 2012 at 7.37 euros per tonne of emissions, lowering their forecast by 10% from a month earlier on concerns over Europe's debt crisis and market oversupply. Meanwhile, EU environment ministers will not try to agree a long term emission strategy at a June 11 summit after Germany withdrew its request for the issue to be discussed.
read more... 12/06/2012
Daily: Brent crude futures edge up on Spain rescue fund
Brent crude futures edged up more than $2 on Monday following the decision of the 17-nation euro currency area to lend Spain up to €100bn for its bank rescue fund, move that revived hopes of steady oil demand growth.
read more... 11/06/2012
Saudi Arabia oil output dropped by 300, 000 bpd in May
Saudi Arabia, the world’s oil basin, has cut its oil output by 300, 000 bpd in May compared with a month before, pumping 9.8 million bpd, according to an industry source.
read more... 11/06/2012
Gazprom to bid for EDF Energy U.K. Power Plant
The Russian giant Gazprom envisages bidding for a U.K. power plant put up for sale by EDF Energy, deal which will provide the gas major with a production base in UK to complement its growing trading business.
read more... 11/06/2012
Vestas CEO: U.S. wind market to fall 80% in 2012
According to CEO of the world’s biggest turbine maker, Vestas, the U.S. wind market is likely to decline by 80% in 2013 because of the expiry of the U.S. production tax credit (PTC) for renewable energy at the end of this year and it is believed that the new Congress will not renew the legislation before its expiry.
read more... 11/06/2012