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The U.S to become the world’s largest producer of oil and gas
According to a Wall Street Journal analysis, the United States will become the world's largest producer of oil and natural gas by the end of 2017 surpassing Russia. This could happen thanks to a boost in US fuel production determined by technology which will allow energy companies to tap into oil and gas in underground shale rock formations.
read more... 04/10/2013
Daily: British gas declines on low demand, ample flows
Brent crude futures posted a slide below $109 a barrel on Thursday, following the biggest gain in two weeks in the last session, dragged down by concerns over a prolonged U.S. government shutdown would hit demand in the United States. Meanwhile, Brent crude decreased by 28 cents to $108.91 by 02:47 GMT, after settling $1.25 higher and U.S. oil dropped by 41 cents to $103.69, after ending $2.06 higher.
read more... 04/10/2013
Daily: Oil prices increase on Keystone pipeline start
Crude oil prices ended higher, recording the largest gain in two weeks on Wednesday, following news that TransCanada Corp's Keystone XL Gulf Coast pipeline would start up by the end of the year. Meanwhile, U.S. oil futures rose $2.06 per barrel, or up 2.02 percent, at $104.10, after trading as high as $104.23. Brent boosted by $1.25 or 1.16 percent to close at $109.19.
read more... 03/10/2013
Coal to become the main fuel in Southeast Asia by 2035
According to the International Energy Agency, in the Southeast Asia region coal will overtake natural gas as the main power generating fuel by 2035, with its share growing to 49% from current 31% while the share of gas will fall to 28% from 44%. It is expected that the region will depend even more on oil imports in the next 20 years due to a rapidly rising energy demand.
read more... 02/10/2013
Daily: British wholesale gas boost on new gas year start
Brent crude dropped below$108 a barrel on Tuesday, trading near a 7-week low on the expectations for a U.S. government shutdown that could hurt oil demand, while investors also eyed easing tensions in U.S.-Iran nuclear negotiations. Brent crude for November declined by 38 cents to $107.99 a barrel by 02:55 GMT. Meanwhile, U.S. crude settled at $101.95, down 38 cents.
read more... 02/10/2013