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Daily (21.12.2018): Oil prices sank to 15-month lows on Thursday, on global oversupply and a hike in interest rates
Oil crude prices were strongly bearish on Thursday on concerns over global oversupply and following another hike in U.S. interest rates, which weighed down on stock markets. The price for Brent tumbled by 5.1% to $54.35 a barrel, or a 15-month low. WTI crude was 4.8% down at $45.88 a barrel.
read more... 21/12/2018
Total To Launch Oil Exports From New Nigerian Field In February
Just as OPEC and partners will have started the new round of production cuts to reduce oversupply, France’s Total is set to begin exports from the new ultra-deep Egina oil field offshore Nigeria in February 2019, at an initial rate of just over 100,000 bpd, Bloomberg reported on Thursday, quoting a copy of a loading program for the new grade it had seen.
read more... 21/12/2018
Centrica unwraps 49MW fast-response battery ahead of Christmas
Centrica has unwrapped its new 49MW fast-response battery ahead of Christmas.
read more... 21/12/2018
China's fuel oil consumption to grow 9% to 30 million mt in 2019: analyst
China's apparent consumption of fuel oil, excluding consumption for bonded bunker fuel, is expected to grow to 30 million mt in 2019, up 9% from 27.5 million mt expected in 2018, Shandong Longzhong Information Technology's fuel oil product analyst Tian Qiujin said this week.
read more... 21/12/2018
Eni reports gas discovery at Merakes East prospect offshore Indonesia
Italian oil and gas major Eni has reported a new gas discovery in Indonesia’s offshore East Sepinggan block through the drilling of the Merakes East prospect.
read more... 20/12/2018