Latest news
UK: new round of oil licences in the North Sea
The 28th UK licencing round was opened currently and North Sea firms would have the possibility to claim new territory in the region. The British economy has historically relied heavily on oil and gas profits from fields in the North Sea.
read more... 27/01/2014
Daily: British prompt gas hits one-week high on cold weather, weaker imports
Brent crude futures traded above $107 a barrel on Friday, as a cold snap in the United States boosted demand for heating oil and dragged down the country's stockpile of crude and distillates. Brent crude climbed 6 cents to $107.64 a barrel by 07:56 GMT, ending 69 cents lower in the previous session following weak manufactory activity figures from China, the world's second-largest oil consumer. Meanwhile, U.S. oil rose 24 cents to $97.56, extending gains after settling 59 cents up.
read more... 27/01/2014
Daily: European carbon drops on EU vote to curb supply
Brent crude oil prices declined after data showed China's factory sector shrunk in January for the first time in six months. Brent crude settled up $1.54 on Wednesday at $108.27, reaching its highest level this year.
read more... 24/01/2014
Daily: Crude oil prices trade higher on strong economic data from China
Oil prices traded higher in heavy trade on Thursday, supported by strong economic data from China, the eurozone and the United States, with U.S. crude prices getting an additional support from expectations that the key Seaway pipeline could resume full capacity operation within a week.
read more... 23/01/2014
Russia started oil deliveries to China
After last week, Russia state-owned oil giant Rosneft has announced that it has received the first tranche of advance payment from China National Petroleum Corporation (CNPC), Russia has started delivering crude oil to China, as established by the contract signed by the two countries during the St Petersburg International Economic Forum in June last year, in a move which aims to diversify China’s energy imports.
read more... 22/01/2014