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Daily: European power prices decreased on a major wind power production in Germany
Crude oil was down on Thursday on concerns about looming U.S. budget discussions and signs of increasing anxiety by the U.S. Federal Reserve about buying bonds to spur economic growth. The U.S. budget crisis was under strongly surveillance by the oil markets , as well as steady problems in the euro zone, for signs over a possible decrease in fuel demand.
read more... 04/01/2013
Daily: Oil hits 4 week high above $112
Brent crude oil beat a four-week new record, higher than $112 per barrel on Wednesday, after the US Congress approved a deal to prevent a fiscal crisis, while promising data from top energy consumer China also supported prices.
read more... 03/01/2013
Russia’s oil output hits new record in 2012
Russia’s oil output hits new record in 2012, to a new post-Soviet high of 10.37 million barrels per day due to an increase in production at Rosneft. Russia had established its previous post-Soviet record in 2011, when the production amounted to 10.28 million barrels per day. According to the International Energy Agency, Russia's oil output hit the highest level at 11.41 million bpd in 1988, when it was part of the former Soviet Union and it accounted about 90 % of total Soviet oil output. This new record confirms Russia as the biggest oil producer in the world.
read more... 03/01/2013
Daily: Brent crude oil up on the agreement approved by the Congress to prevent a fiscal crisis
After the U.S. Congress has approved an agreement to prevent a fiscal crisis, both Brent and U.S. crude oil were up, with Brent which has reached a one-month high, arriving at $112 per barrel on Wednesday at the same time as U.S. crude oil was up by 90 cents to 92.72 dollars a barrel. During the month, WTI increased by 3.3% while Brent oil declined by 0.1%.
read more... 02/01/2013
The Eastern Siberia – Pacific Ocean pipeline records 30mln tons in delivery
A representative of the Chinese Petrochina company has announced that the Siberia-Pacific Ocean pipeline which delivers oil from Russia to China has transported about 30 million tons of crude oil since it starts operating on January 1, 2011. The pipeline is considered as a key-project in the energy cooperation between Russia and the Asian country.
read more... 02/01/2013