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Daily: European power prices soar on strong demand due to colder weather
Crude oil prices increased by 5 percent on Monday, recovering from five-year lows, posting the largest daily gain since 2012, spurred by fears that the robust U.S. shale output criticized for the global oil oversupply is expected to shrink. Benchmark Brent crude oil rose by $2.39 to settle at $72.54 a barrel, after recording a session peak at $72.73. U.S. crude boosted $2.85 to close at $69 a barrel, after firstly plummeting to a five-year bottom at $63.72.
read more... 02/12/2014
Russia to quit South Stream pipeline amid intensifying tensions with the West
Russia dropped the Gazprom’s South Stream pipeline project on December 1, blaming the European opposition to the South Stream plan and instead appointed Turkey as its favourite partner for an alternative project.
read more... 02/12/2014
Sweden: Vattenfall to put on standby its nuclear plans
Swedish power group Vattenfall, will give up its plans to build new nuclear power reactors because of a new government, including Green Party, which is not supporting them, setting up an energy commission tasked with achieving a 100% renewable electricity system.
read more... 01/12/2014
E.ON to split in two its business to focus on renewables
E.ON, the largest utility in Germany, unveiled it plans to split in two its business after a crisis hit the European energy sector.
read more... 01/12/2014
Daily: Crude oil prices plunge on OPEC’s decision not to curb output
U.S. crude plunged 10 percent in its sharpest one-day decline in more than five years on Friday and Brent hit below $70 a barrel, dragged down by OPEC’s decision not to curb oil production made oil traders and analysts to harry in order to find another trading platform. U.S. WTI crude decreased $7.54 to close at $66.15 a barrel, and slipped further post-settlement, reaching a four-year low of $65.69. North Sea Brent declined by $2.43, or 3.3 percent, to settle at $70.15. Brent also closed down 18 percent for November for a fifth consecutive month of declines, or the longest losing strip since the 2008-2009 financial collapse.
read more... 01/12/2014