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Total and E.ON to abandon a pipeline to convey Azeri gas to Italy
France's Total and Germany's E.ON intend to exit the Trans Adriatic Gas Pipeline (TAP) to convey Azeri gas to Italy, since decreasing Italian demand puts energy projects into doubt, according to Vagif Aliyev, SOCAR's investment department manager at Azeri SOCAR.
read more... 04/06/2014
France declares EU members are close to agreement on carbon market reform
Agreement between members on reforming the European Union’s carbon market is very close, as stated on Monday by Pierre-Marie Abadie, manager of energy affairs at France’s Ministry of Ecology, Energy and Sustainable Development.
read more... 03/06/2014
Azeri Socar could diminish its 58% stake in Tanap pipeline project
Azeri state energy firm SOCAR could diminish its stake in the multi-billion dollar Trans-Anatolian natural gas pipeline project (TANAP), intended to decrease Europe's dependence on Russian gas, according to SOCAR's president.
read more... 03/06/2014
Britain: SSE penalized for slow energy customer links
Britain's energy regulator Ofgem has inflicted a fine of 750,000 pounds ($1.25 million) on the power distribution division of utility SSE for the stagnant grid connection of approximately 200 clients in the period 2010-2013, as stated by the entity on Friday.
read more... 02/06/2014
Daily: Crude oil prices slip at month’s end, but post an increase in May on supply concerns
Brent crude dropped on Friday, but rebounded 1.2 percent over the month, supported by energy supply worries amid continuing unrest in Ukraine. Brent crude declined 56 cents to settle at $109.41 a barrel. WTI crude oil also fell on Friday as traders took profit at the end of the month. However, U.S. crude posted a 3 percent increase in May. U.S. light crude oil slipped by $1.18 to an intra-session low of $102.40 to close 87 cents lower at $102.71 a barrel.
read more... 02/06/2014