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Bulgaria inks an agreement with Shell for deepwater oil and gas exploration
Bulgaria signed a deal with Royal Dutch Shell on Tuesday to explore for oil and gas in an offshore block in the Black Sea in a bid to end its almost total reliance on Russian natural gas.
read more... 24/02/2016
Daily: European spot power prices climb on increasing consumption amid cold weather spell
Oil prices lost 4 percent on Tuesday after Saudi Oil Minister Ali Al-Naimi reiterated that the kingdom will maintain output levels as the demand would capable to absorb the crude glut. Crude oil prolonged losses after settlement when an U.S. industry trade group API said domestic crude inventories escalated more than twice than expected by analysts. Benchmark Brent crude futures fell $1.42, or 4 percent, to settle at $33.27 a barrel, while U.S. crude futures declined $1.52, or 4.6 percent, to close at $31.87 a barrel.
read more... 24/02/2016
Daily: Crude oil recovers 6% on speculations of weaker U.S. shale output, strong equity market
Crude oil prices rebounded as much as 6 percent on Monday, spurred by IEA‘s speculation that U.S. shale output could decline and a hike in equities fed worries that crude prices may dip after a 20-month collapse. Futures of Brent rose $1.68, or 5 percent, to settle at $34.69. WTI crude futures climbed $1.84, or 6 percent, to close at $31.48 a barrel, rebounding above $32 at one point.
read more... 23/02/2016
Rosneft inks an accord with PDVSA to produce gas in Venezuela
Russia's major oil producer Rosneft and Venezuela's state oil firm PDVSA inked a deal to establish a joint venture to develop natural gas in the South American country, as stated by Rosneft on Saturday.
read more... 22/02/2016
Daily: Crude oil down 4%, with Brent declining for a third consecutive week
Crude oil prices declined 4 percent on Friday, with Brent falling for a third consecutive week, as a record high in U.S. crude inventories aggravated worries that a plan to freeze output will have a low contribution in reducing massive oil supplies. A decrease in the U.S. equity market also weighed on crude. Brent crude lost $1.27, or 3.7 percent, to settle at $33.01 a barrel. U.S. crude fell $1.13, also ending 3.7 percent lower at $29.64.
read more... 22/02/2016