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Daily: Oil prices down for a fifth consecutive day, posting 10% decline on the week
Crude oil prices plunged for a fifth consecutive day on Friday, down 10% on the week, and Goldman Sachs argued more losses were needed to oblige producers to slash supplies enough to balance the oversupply and pessimistic outlook in the market. Brent eased 20 cents to settle at $33.55 a barrel. It attained a session low of $32.78, after decreasing on Thursday to $32.16, the weakest level since April 2004. For the week, Brent shed 10 percent, just behind the 11 percent decline in the opening week of 2015, which was a record loss for oil in the first full trading week of any year. WTI closed 11 cents lower at $33.16. It dropped to $32.64 earlier in the day, after slipping to $32.10 on Thursday, its lowest level since December 2003.
read more... 11/01/2016
Russia’s Gazprom Neft stops purchase in Vietnam’s Dung Quat refinery
Russia's Gazprom Neft, the oil division of major global gas producer Gazprom, has stopped negotiations to purchase a 49 percent stake in the operator of Vietnam's sole oil refinery, as indicated in a business report of the state-owned oil firm PetroVietnam seen by Reuters on Monday.
read more... 11/01/2016
Daily: European electricity curve at fresh 13-year lows since oil price drop
Oil prices increased over 2 percent on Friday, following China shares higher after Beijing neutralized a circuit breaker mechanism that was accused for aggravating equity market crashes, even though a persistent global crude surplus kept a cap on gains.
read more... 08/01/2016
SSE and Coillte obtain financing for Galway Wind Park
British energy provider SSE, in collaboration with Irish company Coillte, has obtained financing to accomplish construction of Galway Wind Park, as stated by the firms on Thursday.
read more... 08/01/2016
Daily: Global oil prices dropped to an 11-year low on China market chaos, storage overhang
Brent crude futures dropped to a new 11-year low on Thursday since a declining yuan and an emergency halt in China's stock trading left Asian markets in a havoc, while a significant supply overhang and near-record output levels also continued to drag on oil prices.
read more... 07/01/2016