Latest news
Daily: European spot power declines on weaker demand, German curve tumble
Brent crude oil futures increased to about $3 per barrel, ending with their biggest gain in more than a month on Thursday, on increasing hopes for a deal to prolong funding of the U.S. government and on worries about supplies from Libya and the Middle East.
read more... 11/10/2013
Gazprom could face a 15 billion dollars fine from EU regulators
After a year-long investigation the EU regulators are preparing to charge Russian gas export monopoly Gazprom over suspected infringement of EU competition rules in member states including Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland and Slovakia, risking a fine of up to 15 billion dollars. Currently Gazprom supplies a quarter of Europe's gas consumption needs.
read more... 04/10/2013
Ukrainian diversification of natural gas supplies
Since 2011 Ukraine is trying to raise natural gas production levels in the Black Sea from 1 bcm in 2011 to 3 billion cubic meters in 2015.In 2012 the Black Sea production reached 1.2 bcm and is predicted to rise to 1.65 bcm in 2013.Its total gas reserves have been estimated at 5.4 trillion cubic meters.
read more... 25/09/2013
Russia to curb oil supplies to Belarus by 40% as the dispute escalates
Russia will cut oil pipeline deliveries to Belarus by 42% in the fourth quarter under an export schedule unveiled on Tuesday. The decision came amid a dispute over the arrest in Minsk of a Russian businessman, the head of the Russian potash company Uralkali.
read more... 18/09/2013
Energy- hungry China to invest $13.07 billion in oil and gas exploration in 2013
China is expected to invest 80 billion yuan ($13.07 billion) in oil and gas exploration until the end of 2013, as it pledges to increase energy supplies and to curb its dependence on energy imports, according to the Ministry of Land and Resources.
read more... 17/09/2013