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Daily (14.08.2017): British wholesale gas prices rose on Friday due to an unplanned outage
Oil prices increased on Friday, following the IEA’s report which stated that crude oil stockpiles were now below 2016 levels. The agency also raised its 2017 demand growth forecast in its previous monthly report and declared it expected demand to be further expanded next year. Despite the strong demand, markets remain well-supplied thanks to strong output. Brent rose by almost 0.4% to close at $52.10 a barrel, while WTI price rose by around 0.5% to end at $48.82 a barrel.
read more... 14/08/2017
Britain's Tullow starts oil and gas exploration in Zambia
British firm Tullow Oil on Friday launched exploration for oil and gas in Zambia, Africa's No.2 copper producer, as the nation strives to diversify its economy and reduce its dependence on the industrial metal.
read more... 14/08/2017
Egypt: LNG imports will be reduced to 80 cargoes in 2017-18 year
Egypt intends to import 80 cargoes of liquefied natural gas during the 2017-18 financial year that started in July, as stated by Petroleum Minister Tarek El Molla on Sunday, or down from the 118 cargoes imported in 2016.
read more... 14/08/2017
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OPEC fails to reduce oil production, registers highest output of the year
OPEC oil output for July skyrocketed by 173,000 barrels a day to almost 32.9 million barrels, which once again proves that major oil producers can’t keep up with their plan to pump less oil.
read more... 11/08/2017
Nova Innovation receives funds for tidal energy in North Wales
UK tidal energy generator Nova Innovation has been awarded £265,000 for the development of a tidal project at Bardsey Sound in north Wales.
read more... 11/08/2017