Latest news
Bulgaria withdraws from major project with Russia and Greece
Bulgaria's outgoing parliament has voted to abandon a 1 billion euro oil project meant to bring Russian oil to Greece via Bulgaria. A total of 115 lawmakers in the 240-seat legislature voted to scrap a 2007 agreement with Russia and Greece for the 280-kilometre pipeline, while twenty-five lawmakers voted against the move.
read more... 11/03/2013
Daily: European spot power higher on colder weather forecast
Brent crude oil futures dropped in choppy trading on Friday, dragged down by a stronger dollar, while increasing U.S. gasoline futures helped to cap losses. Meanwhile, Brent April crude dropped 30 cents, or 0.27 percent, to settle at $110.85 a barrel, having traded from $109.14 to $111.33, though posting a weekly gain of 40 cents or 0.4 percent.
read more... 11/03/2013
Daily: European power prices drop on higher German wind power generation
Brent and U.S. crude oil futures fell on Wednesday after U.S. government data indicated that domestic crude inventories increased much more than forecasted. Brent crude futures slipped 55 cents at $111.06 per barrel, while front-month U.S. crude oil futures shed 39 cents on Wednesday.
read more... 07/03/2013
China surpassed the United States as the world’s top oil importer
China has surpassed the United States as the world’s biggest net importer of oil after, the U.S. posted its lowest import records since 1992 on the back of flourishing domestic oil production. According to provisional figures from the US Energy Information Administration US net oil imports dropped to 5.98m barrels a day in December, the lowest since February 1992, while China’s own figures rose to 6.12 million bpd.
read more... 06/03/2013
Daily: UK wholesale gas prices drop, but still high as the system eases
Brent crude oil futures for April delivery boosted $1.52 per barrel to settle at $111.61 on Tuesday, breaking a five-day losing strip, mainly prompted by North Sea supply disruptions, optimism over Chinese demand growth after the country targeted 7.5 percent GDP growth this year and a significant increase in U.S. equities.
read more... 06/03/2013