Latest news
Royal Dutch Shell: 15% drop in Q3 profits on lower oil prices
World No.2 oil company Royal Dutch Shell registered a 15 per cent decline in current cost of supply profits in the third quarter, dragged down by lower crude prices, a fall in output and special charges outweighed stronger margins in refining.
read more... 05/11/2012
Daily: UK gas slips on oversupplied system
Brent crude futures declined on Thursday as the North Sea Buzzard oilfield was expected to restart after maintenance and on worries about the euro-zone economy. Brent crude for delivery in December dropped 53 cents or 0.49 percent, settling at $108.17 a barrel, having traded from $107.75 to $109.03.
read more... 02/11/2012
Norway: Statoil to connect its onshore power to North Sea fields
Norwegian energy giant Statoil envisages connecting onshore power to some North Sea oil and gas fields by 2018, move which will cost 10 billion crowns ($1.75 billion) investment that could potentially slash its future tax bill.
read more... 02/11/2012
Daily: Brent crude oil ends lower in light volume trading
Brent crude futures declined yesterday in light volume trading as investors expected weaker demand for fuel in the United States after Hurricane Sandy. Brent crude for December delivery dropped 36 cents, or 0.33 percent, to settle at $109.08 a barrel, having traded from $108.65 to $110.10.
read more... 31/10/2012
Europe's long-term gas contract disputes
European energy companies faced with falling profits are turning up the pressure on long-term suppliers such as Russia and Qatar to amend long-term, oil-indexed sales of gas. Recession and market liberalisation measures by the European Commission have caused oil and gas prices to diverge, costing utilities billions. Disputes, re-negotiations and arbitration have led producers to temporarily grant discounts on gas supplies. Some have lowered prices and others have linked supplies to prices at Europe's freely traded spot gas trading hubs. Some utilities also want greater flexibility by being able to reduce supplies beyond minimum contracted levels during times of low demand. Many negotiations are still under way.
read more... 31/10/2012