British oil giant BP aims to invest $1 billion (£640 million) developing key North Sea assets, at a time when other oil companies want to quit the ageing UK North Sea basin.
read more... 06/08/2015
The largest power generator in Germany RWE envisages slashing its middle-management and to trim by about more than half from its 100 local subsidiaries in order to deal more promptly to the country’s energy sector revolution.
read more... 05/08/2015
Egypt’s planning ministry unveiled it envisages importing 28.6 million tonnes of crude oil, liquefied natural gas (LNG) and other oil products worth a total of almost $16 billion in 2015-16.
read more... 04/08/2015
Crude oil prices declined 5 percent on Monday to hit their weakest level since January, dragging down global benchmark Brent below $50 a barrel as weak factory activity in China dipped a commodity-wide rout. Brent crude closed down $2.69, or 5.2 percent, to touch $49.52 a barrel. U.S. crude dropped $1.95, or 4.1 percent, to hit $45.17, just about $3 above its 2015 bottom.
read more... 04/08/2015
WTI crude registered its largest monthly decline since 2008 financial collapse on Friday after a series of losses in July caused by China’s inventories market slump and on evidence that main Middle East producers were pumping crude at record levels. U.S. crude dropped $1.40, or almost 3 percent, to settle at $47.32 a barrel. It eased more than 2 percent on the week. Brent crude decreased by $1.10, or 2 percent, to close at $52.21 a barrel. It lost 5 percent on the week and 18 percent on the month.
read more... 03/08/2015