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Daily: Oil prices tumble on Saudi Arabia, Iran dispute
Crude oil futures tumbled on Friday, posting their largest weekly percentage decline since January of about 9 percent, as old disputes between Saudi Arabia and Iran sparked at a OPEC meeting last week. Saudi Arabia stated that it could steeply increase oil output to reduce prices if Tehran refuses to curb supply. Both benchmarks closed at their lowest levels since September, with Brent losing 77 cents, or 1.7 percent, to end at $45.58 a barrel, and U.S. crude declined 59 cents, or 1.3 percent, to close at $44.07.
read more... 07/11/2016
Egypt defers third LNG terminal until electricity requirements determined
Egypt will postpone plans to rent a third liquefied natural gas import (LNG) terminal for one month, until the ministry of electricity determines its LNG requirements, as stated by an official at state gas purchaser EGAS on Sunday.
read more... 07/11/2016
Top energy companies to create green fund
Seven international oil and gas majors are envisaging creating a joint fund to develop new renewable energy technologies.
read more... 04/11/2016
EDF cuts 2016 nuclear production after reactor restart postpones
French state-controlled utility EDF on Thursday reduced its 2016 nuclear power production for the second time this year after previously announcing that the restart of five nuclear reactors experiencing safety checks would be postponed until the end of December.
read more... 04/11/2016
Daily: Spot French power contract rallies on extended number of outages at EDF’s nuclear plants
Crude oil prices ended down more than 1 percent on Thursday as investors remained skeptical about whether OPEC will cap its production. U.S. crude lost 68 cents, or 1.5 percent, to settle at $44.66 per barrel. At one moment, oil had declined more than $1 a barrel and hit a session low of $44.37. Brent crude eased 51 cents, or 1.1 percent, to end at $46.35 a barrel. It reached a session low of 45.99.
read more... 04/11/2016