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Daily energy Overview, Wednesday, April, 05, 2011
U.S. crude oil futures decreased on Tuesday after American Petroleum Institute announced that crude domestic stocks surprisingly dropped by 2.8 million barrels last week, even though an increase in supplies was expected. Crude for May delivery traded at 107.96, down 51 cents.
read more... 06/04/2011
Kazakhstan to suspend its work at Kashagan oil field for three years
Kazakhstan plans to suspend its activities on the main stage of the Kashagan project for three years, following the Royal Dutch Shell and Exxon Mobil attempts to persuade the country’s oil ministry to simplify the project design, which would cut their expenditures by $18 billion to $50 billion.
read more... 06/04/2011
Saft Groupe could end the construction of the largest Solar-Storage Utility by the end of this year
According to officials of the French battery maker, Saft Groupe SA Company, the construction of the largest storage system of a photovoltaic plant in Europe will be completed by the end of this year.
read more... 06/04/2011
Matra Petroleum to begin oil production in the Sokolovskoe Field, Russia
Matra Petroleum, an independent oil and gas exploration and production company which is actively operating in Russia since 2006 and is constantly examining the potential for oil and gas over there, announced that it has begun the production for both existing wells in the Sokolovskoe field, Russia.
read more... 06/04/2011
Daily energy Overview, Tuesday, April, 05, 2011
Oil prices rose to their highest level in 2-1/2 years on Monday following increasing geopolitical worries because of turmoil situation in the Middle East and North African countries and election delays in Yemen. On NYMEX exchange bourse, crude for May delivery traded at 108.47 dollars a barrel, up 53 cents, having hit the utmost closing price for the front-month contract since September 22, 2008, when it valued 120.92 dollars. ICE Brent crude settled at 121.06 dollars a barrel, up 2 percent, in low liquidity, and marking the highest settlement since September 1, 2008, when it registered a value of 124.18 dollars.
read more... 05/04/2011