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BP gives the go-ahead for the $9bn Mad Dog 2 oil project in the Gulf of Mexico
BP has given the go-ahead for the $9bn Mad Dog 2 oil project in the US Gulf of Mexico despite a slump in oil prices.
read more... 02/12/2016
UK: British Gas and E.ON will freeze energy prices this winter
Centrica possessed British Gas and E.ON, two of Britain's "big six" providers, have frozen their standard energy prices this winter, adding to pressure on competitors to do the same.
read more... 02/12/2016
Daily: Brent rockets over 6% after OPEC output deal
Crude oil prices soared 5 percent on Thursday, with Brent crude at its highest level in about 16 months, prolonging gains after OPEC and Russia agreed to reduce output to fight against the global oversupply. Benchmark Brent futures rallied 6.88 percent or $3.47 higher at $53.94. Earlier in the session, prices climbed at $54.53 a barrel, the highest level since July 27, 2015. U.S. crude closed the session at $51.06, up $1.62 or 3.3 percent on the day. Its session high was $51.80 a barrel, 13 cents below its 2016 high.
read more... 02/12/2016
Daily: Crude oil rocketed over 10% after OPEC’s decision to cut production
Crude oil prices surged over 10 percent on Wednesday to over $50 a barrel and its highest in a month as some of the world’s biggest producers agreed to limit production for the first time since 2008 in a bid to prop up prices. Yesterday, OPEC decided to slash production from January by around 1.2 million barrels per day (bpd), or over 3 percent, to 32.5 million bpd. U.S. West Texas Intermediate crude futures for January delivery rose by $4.21 to close at $49.44 a barrel, posting a 9.6 percent gain. They earlier rallied 10 percent, the largest one-day hike since February. Brent crude futures for January delivery climbed $4.09 a barrel or 8.82 percent to end at $50.47 a barrel. The contract expires Wednesday, and the February contract soared 8.9 percent to $51.51.
read more... 01/12/2016
Daily: Crude oil plunges nearly 4% on doubts aver OPEC output reduction
Crude oil prices decreased by about 4 percent on Tuesday as OPEC’s top oil exporters struggled to agree on a deal to limit production in order to increase prices, with Iran and Iraq in dispute with Saudi Arabia a day ahead of the meeting. Brent futures lost $1.86, or 3.9 percent, to close at $46.38 a barrel, while U.S. crude shed $1.85, or 3.9 percent, to end at $45.23. That was the largest daily percentage decline for Brent since September.
read more... 30/11/2016