English Edition

Oil Exports Loom Large

Πεμ, 2 Ιανουαρίου 2014 - 18:22

The U.S. virtually banned the export of crude oil in the wake of the mid-1970s energy crisis. But as America pumps more crude, 2014 could be the year those constraints are lifted. For decades, even discussing the possibility of exporting domestic oil was a nonstarter in Washington. Now, surging U.S. production has led to the beginning of a glut along the Gulf Coast, home to the largest refinery complex in the world. Too much crude is driving down prices, making producers eager to export oil to places like Europe where prices are higher

Royal Dutch Shell Completes Repsol LNG Portfolio Deal on New Terms

Πεμ, 2 Ιανουαρίου 2014 - 18:16

Oil major Royal Dutch Shell PLC (RDSB.LN) said Thursday it has completed the acquisition of Repsol S.A.'s (REP.MC) liquefied natural gas portfolio outside North America for $3.8 billion net, slightly lower than the $4.4 billion originally agreed last February

Russia's 2013 Oil Output Hits Post-Soviet High

Πεμ, 2 Ιανουαρίου 2014 - 18:09

World energy power Russia said on Thursday that its oil output hit a post-Soviet high in 2013 while natural gas production at its vast Gazprom OAO (OGZPY) holding slipped for the second straight year. The mixed figures--highlighted by yet another dip in oil exports outside ex-Soviet territories--point to lingering problems in a sector that accounts for about half of Russia's budget revenues

Natural Gas Skids But Still Set to Finish 2013 Strong

Τρι, 31 Δεκεμβρίου 2013 - 17:02

Natural-gas prices have climbed from less than $3.50/mmBtu in early November, as continued cold weather has led to robust heating demand. About half of all U.S. households use natural gas as their primary heating source, according to the U.S. Energy Information Administration. Natural-gas prices are up almost 30% year-to-date. The commodity is set to end the year with the biggest gains among the 22 commodities in the Dow Jones-UBS Commodity Index, which is down 9.3% for the year

Libya Makes New Gas Discovery

Τρι, 31 Δεκεμβρίου 2013 - 16:59

Libya, holder of Africa's fourth-largest proven gas reserves, has made a new gas find southwest of Tripoli amid efforts to boost the country's hydrocarbon output, state-run National Oil Corp. said Tuesday

Oman Stands In US's Corner On Iran Deal

Δευ, 30 Δεκεμβρίου 2013 - 17:45

Washington has gained a little-known ally in its bid to win crucial Arab support for curbing Iran's nuclear program: Oman, a small kingdom that is expanding its role on the Middle East's diplomatic stage

Oil Futures Dip On Reports of Resumed Libyan Production

Δευ, 30 Δεκεμβρίου 2013 - 17:44

Oil prices ticked lower Monday as traders digested reports that halted Libyan oil production could resume and cashed in their profits after prices hit two-month highs Friday. Light, sweet crude for February delivery fell 53 cents, or 0.5%, to $99.79 a barrel on the New York Mercantile Exchange. Brent crude on ICE Futures Europe dropped 92 cents, or 0.8%, to $111.26 a barrel.

Gazprom’s European Gas Exports Rise to Record as Price Reduced

Δευ, 30 Δεκεμβρίου 2013 - 17:41

OAO Gazprom, which provides about a quarter of Europe’s natural gas, increased exports to the region and Turkey to a record this year as customers won price reductions and colder weather boosted demand. Supplies rose 16 percent to 161.5 billion cubic meters in 2013, excluding volumes traded by the Moscow-based company’s European units, Gazprom Export said today in an e-mailed statement, citing preliminary data. The previous record was 160 billion cubic meters in 2008, according to the company’s 2012 financial report

Libya's Tobruk Port Close to Restarting Oil Exports as Tanker Named

Παρ, 27 Δεκεμβρίου 2013 - 13:31

Oil exports from Libya's Tobruk port may resume soon after a tanker--the first in months--was nominated to load crude from there, Libyan officials said Thursday.

Total Sells 15% Stake in Congo Unit to Qatari Investment Fund

Παρ, 27 Δεκεμβρίου 2013 - 13:31

Oil major Total SA said it sold a 15% stake in its Congo exploration and production unit Total E&P Congo to a Qatari investment fund specialized in energy assets, for $1.6 billion, as part of the French group's disposals strategy.

WTI Creeps Towards $100 Mark, Brent Steady

Παρ, 27 Δεκεμβρίου 2013 - 13:31

Nymex crude-oil futures are marginally higher in Asian trade Friday, after gaining 33 cents overnight. "The market is creeping up on the $100 psychological barrier, supported by a rising S&P 500 and the recent downtrend in U.S. commercial crude oil inventories," analyst Timothy Evans at Citi Futures says in a note.

Toshiba Would Increase Share Of Power Venture

Παρ, 27 Δεκεμβρίου 2013 - 13:30

Toshiba Corp., one of Japan's biggest diversified electronics companies, is aiming to buy a majority stake in U.K. nuclear consortium NuGeneration Ltd. as it looks to foreign demand after interest at home waned following a nuclear accident in 2011.

Initial Capital for South Stream Serbia is Not Provided from Government Guarantees

Παρ, 27 Δεκεμβρίου 2013 - 09:28

Prime Minister Ivica Dacic said today that he reached an agreement with Chairman of the Board of Directors of Gazprom Alexey Miller that the Russian side borrows €75 million for the initial capital for setting up South Stream Serbia.