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Daily: Oil slumps 4% to five- year low on Wall Street, Kuwait predictions of a deeper price decline
Crude oil dipped 4 percent to fresh five-year lows on Monday, as Wall Street expectations of a considerable price decrease next year and a Kuwait forecast for a crude price of $65 set off one of the largest declines this year. Brent for January delivery slipped $2.88, over 4 percent, to close at $66.19 a barrel, the third-largest one-day percentage slump this year and its weakest settlement price since October 2009. U.S. crude eased 4.2 percent or $2.79 to close at $63.05 a barrel, its lowest level since July 2009.
read more... 09/12/2014
Estonia purchases first gas from Lithuania, bypassing Russia
Estonia obtained its first natural gas from Lithuania, through Latvia, last week in a move which diminishes its energy reliance on Russia, as stated by Latvia's gas grid operator Latvijas Gaze on Monday.
read more... 09/12/2014
CEZ: earnings in decline due to sector modifications
Czech power producer CEZ will make lesser profits in the future since it gets used to changes in the industry, as stated by its CEO in an interview published on Saturday in a newspaper.
read more... 08/12/2014
Egdon and Scottish Power decided to move ahead with the UK shale gas project
Scottish Power, possessed by Spain's Iberdrola, and Egdon Resources have agreed to continue with a joint project to discover and increase shale gas in Britain, after seismic information showed the potential for reserves.
read more... 08/12/2014
Daily: U.S. oil settles at the lowest level since July 2009 on bearish oil market
Brent crude contract for January delivery plunged in afternoon trade on Friday as the market struggled with the supply glut due to the U.S. shale boom and the recent decision by the OPEC not to curb production. It declined 67 cents to settle at $70 a barrel. U.S. oil ended at a 5-year low on Friday as strong U.S. employment figures increased slightly the bearish oil market a day after Saudi Arabia slashed official selling prices. U.S. crude futures eased 97 cents to settle at $65.84 per barrel, its lowest level since July 29, 2009.
read more... 08/12/2014