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Europe: the hike in oil prices intensified by a fall in the value of the euro against the dollar
Despite recent declines in oil prices, they still remain at amazingly high levels around the world, driving up nations to spend more money on oil imports.
read more... 05/06/2012
Daily: Europe power prices around 18-1/2 month lows
Brent crude prices declined for a fifth trading day, hitting a 16-month low below $96 a barrel on Monday, driven down by weak U.S. and Chinese economic data which renewed fears of a global economic stagnation, which could hit oil demand.
read more... 04/06/2012
BP to resume oil exploration program in Libya
The oil major BP announced it will resume its oil operations in Libya, suspended since 21 February 2011 because of civil war against the regime of Muammar Gadafy. The move came as the company feels the security situation inside Libya now makes it safe enough to return.
read more... 04/06/2012
Germany needs €20 bn to upgrade its power transmission network
Germany must invest about €20 billion ($25 billion) over the next decade to upgrade its power transmission network, as the nation decided to quit nuclear power and to use more renewable energy, aftermath the Fukushima nuclear catastrophe in Japan.
read more... 04/06/2012
UK’s Treasury to cut onshore wind farms subsidies by 25%
The UK’s government aid for onshore wind farms could be cut even further than previously scheduled, according to the Treasury.
read more... 04/06/2012