Latest news

Norway’s oil, gas exploration falls in 2020

The Norwegian petroleum directorate (NPD) said today a lack of new discoveries offshore Norway could rapidly reduce oil and gas production after 2030, as the number of exploration wells drilled this year is set to halve from 2019.

read more... 28/10/2020

news

Daily (27.10.2020): Brent and WTI crude settled at 3-week lows on Monday amid surging coronavirus cases worldwide

Crude oil futures fell on Monday in response to surging coronavirus cases in the US and Europe, where several countries have already implemented new restrictions, raising concerns about the impact of the pandemic on oil demand. Extra pressure on oil prices comes from increasing Libyan crude oil production and exports after the country recently lifted the force majeure. Hence, Brent crude shed by $1.31, or 3.1%, to settle at $40.46 a barrel. U.S. WTI crude dropped by $1.29, or 3.2%, to close at $38.56 a barrel. Both, WTI and Brent crude marked their lowest settlements since Oct. 2.

read more... 27/10/2020

news

Siemens launches local power trading platform with German utility

Using blockchain technology to link participants via an app, it allows producers to earn money from marketing their excess production, the firms said, while distributing power locally represents a more efficient use of the grid

read more... 23/10/2020

news

Daily (09.10.2020): NBP gas for month-ahead delivery hit an almost 10-month peak on Thursday tracking higher oil and LNG prices

Crude oil futures hit their highest level in more than a month on Thursday as Hurricane Delta forces paralyzed nearly 92% of crude output in the Gulf of Mexico, while Saudi Arabia envisages postponing OPEC plans to boost output. The prospect of more production outages in the North Sea due to a workers’ strike added further support to oil markets. Hence, Brent crude for December delivery jumped by $1.35, or 3.2% to settle at $43.34 a barrel. Meanwhile, U.S. WTI crude surged by $1.24 cents, or 3.1%, to end at $41.19 a barrel.

read more... 09/10/2020

news

Norway’s Oil & Gas Strikes Could Take 25% Of Production Offline

If the ongoing strike of oil workers in Norway extends for another week without a resolution, nearly 25 percent of Norway’s oil and gas production could be shut down, including output at the giant Johan Sverdrup oilfield, the Norwegian Oil and Gas Association (NOG) said on Thursday.

read more... 09/10/2020

news