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Daily: European power at 3-year lows dragged down by weak spot
Brent and U.S. crude oil futures declined on Thursday in thin, choppy trading as unresolved U.S. budget talks left open the possibility that mandated tax hikes and spending cuts could be enacted, which could drag the top oil-consuming economy into recession. Meanwhile, Brent February crude dipped 27 cents, or 0.24 percent, to settle at $110.80 a barrel, having traded from $110.10 to $111.33. U.S. February crude eased 11 cents, or 0.12 percent, to settle at $90.87 a barrel, having traded from $90.05 to $91.44.
read more... 28/12/2012
Chevron unveils two gas discoveries offshore Western Australia
Oil and gas giant Chevron reported two new gas discoveries in the Exmouth Plateau area of the Carnarvon Basin, a hydrocarbon basin offshore Western Australia.
read more... 28/12/2012
Daily: Brent and U.S. crude climb on U.S. fiscal talks
Brent crude rose 2.1 percent to settle at $111.07 in thin trade as investors hoped that U.S. lawmakers would come up with a last-minute deal to prevent a fiscal crisis in the world's largest oil consumer. Meanwhile, Brent crude added 81 cents to $109.61 a barrel by 12:30 GMT, after settling 17 cents lower on Monday, the last trading day before Christmas.
read more... 27/12/2012
Russia launches new oil pipeline to the Pacific
This week Russian President Vladimir Putin has announced the completion of the 4,740 km-long (2,945 miles) East Siberia - Pacific Ocean (ESPO) section, which runs between the Siberian city of Skovorodino and the Pacific port of Kozmino. The pipeline has the objective to increase sales to the United States, as sales to Europe have significantly decreased. The ESPO will reinforce the dominant position in the international crude markets.
read more... 26/12/2012
Lukoil - the winner of three Siberian oil fields auction
Lukoil, the country's second-biggest oil producer by output, won at an auction for three Siberian oilfields.
read more... 26/12/2012