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Iran and China to keep oil prices high
Crude oil market went across difficult times when markets clashed with several supply issues in Iran and increasing demand coming from Asia and China. These movements could help increase oil prices along with a weaker U.S. dollar that could add a final drop to push U.S. prices to 118 dollars a barrel by the fourth quarter of 2012. West Texas Intermediate contracts for March delivery, currently trading at 103.52 dollars a barrel, have gained on eight of the last ten trading days while Brent, the international benchmark, recorded six positive sessions over the same time frame and was at 119.62 dollars as of 4:20PM in New York on Friday.
read more... 21/02/2012
China to encourage shale gas exploration in 2012
China’s Ministry of Land and Resources (MLR) said that the country will increase its efforts to explore shale gas in 2012, a move that will help ease China’s natural gas shortage and diversify its energy supply structure.
read more... 13/02/2012
China –net crude imports to grow slowest in 6 years
According to a released report by oil firm China National Petroleum Corp (CNPC), China’s net crude oil imports are expected to increase 5.9 percent in 2012, registering the slowest growth rate since 2006. This is because of sluggish exports market cuts into consumption. Net crude imports are expected to increase to 266 million tonnes in 2012 from 251.26 million tones.
read more... 03/02/2012
South China: Guangdong province to build its first offshore wind farm
South China’s Guangdong province will launch this year the construction of its first offshore wind farm which will have a capacity of 198 MW and will be connected to the grid in 2014, according to Guangdong Electric Power Development Co. Ltd. on Monday.
read more... 31/01/2012
Daily – U.S. and Brent prices down on euro zone worries
U.S. and Brent crude oil futures decreased on Friday as investors awaited a potential debt restructuring deal seen sparing Greece from a messy debt default and as signs of low factory activity in China stirred up demand worries.
read more... 23/01/2012