Latest news
GDF Suez: Income is expected to fall next year as demand slows due to economic crisis
GDF Suez, Europe’s largest utility by market value, has announced this week that income for next year will register a decrease as the economic crisis in the region slows demand. According to GDF Suez, European demand for natural gas is down 14% since 2010 while power by 25 %, so it plans to cut its share of profit from Europe and is looking to double LNG sales to emerging markets.
read more... 11/12/2012
Europe's long-term gas contract disputes
European energy companies faced with falling profits are turning up the pressure on long-term suppliers such as Russia and Qatar to amend long-term, oil-indexed sales of gas. Recession and market liberalisation measures by the European Commission have caused oil and gas prices to diverge, costing utilities billions. Disputes, re-negotiations and arbitration have led producers to temporarily grant discounts on gas supplies. Some have lowered prices and others have linked supplies to prices at Europe's freely traded spot gas trading hubs. Some utilities also want greater flexibility by being able to reduce supplies beyond minimum contracted levels during times of low demand. Many negotiations are still under way.
read more... 31/10/2012
SSE hit by doorstep sales halting and derivatives losses
The UK energy supplier Scottish and Southern Energy (SSE) posted 87% drop in its annual pre-tax profits, from £2.1bn to £268.5m, blaming its loss on doorstep sales halting and derivatives losses, after it was convicted for mis-selling.
read more... 17/05/2012
Daily – crude ends higher on Federal optimism
U.S. and Brent crude oil futures went up on Thursday on positivism about the energy demand following the previous day’s U.S. Federal Reserve statement about a faster movement to support the economy if it weakens and on upbeat U.S. March pending home sales data.
read more... 27/04/2012
Daily – Europe spot power prices off on rising temperatures
Crude oil futures increased on Tuesday on rising economic confidence in Germany, a sharp increase in U.S. retail sales and U.S. Federal Reserve statement that will keep low interest rates at least through 2014. NYMEX crude for April delivery valued 106.71 dollars a barrel, gaining 37 cents after having traded between 105.67 and 107.35 dollars, while ICE Brent crude for April delivery traded at 126.22 dollars a barrel, up 88 cents after a trading range from 125.00 to 126.79 dollars.
read more... 14/03/2012