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UK: Oil and gas production up, investments and exploration down
According to Oil & Gas UK annual latest report, published yesterday, the production of oil and gas in the UK increased by more than 10% in 2015 for the first time in 15 years. The increase was due to a succession of new projects in the North Sea along with developments of technological innovations in order to get the best out of the extraction from the existing fields.
read more... 28/09/2016
Daily: Increase in wind power production hits German spot
Oil futures reduced by approximately 3% on Tuesday after both Iran and Saudi Arabia played down anticipations for an agreement to freeze or cut crude output at the thoroughly watched informal OPEC meeting on Wednesday.
read more... 28/09/2016
Daily: European forward power prices at highest level in 10 weeks, spurred by firmer coal, spot power
Crude oil prices ended up 3 percent on Monday on renewed hopes that top crude exporters might make progress on a deal to limit production. The world’s major producers met in Algeria to discuss ways to prop up prices. Brent crude futures rose by $1.46, or 3.2 percent, to settle at $47.35 a barrel after fluctuating between $45.74 and $47.66. U.S. West Texas Intermediate (WTI) crude futures advanced $1.45, or 3.3 percent, to settle at $45.93 after a session high of $46.20 and low of $44.43.
read more... 27/09/2016
Daily: Crude oil dips 4 percent as no output freeze deal expected for OPEC
Crude oil prices plunged 4 percent on Friday as Saudi Arabia and its rival Iran were making little progress in achieving preliminary deal ahead of OPEC talks aimed at freezing production. The United States was on the track to increase the number of oil rigs in a quarter, move that weighed on sentiment. Another bearish factor was weaker equity prices on Wall Street. Brent crude futures lost $1.76, or 3.7 percent, to settle at $45.89 a barrel. For the week, it added 0.3 percent. U.S. West Texas Intermediate crude futures declined $1.84, or 4 percent, to close at $44.48. On the week, WTI rose 3 percent.
read more... 26/09/2016
Denmark decided to continue production at old North Sea gas field
The Danish government is decided to find an economically viable solution that will permit A.P. Moller-Maersk's energy division to continue production at the Tyra gas field in the North Sea, as stated by energy and climate minister Lars Christian Lilleholt on Wednesday.
read more... 22/09/2016