OPEC Meeting: No Decision on Output Ceiling
An OPEC meeting in Vienna appeared to have ended up with no decision as ministers left the room without making a comment and two OPEC sources said no deal has been reached. "We have no agreement," one source said.
OPEC Agrees To Up Oil Output Ceiling
OPEC has agreed to raise its output ceiling to 31.5 million barrels per day at a meeting on Friday, OPEC sources said in what appeared to be an effective acknowledgment of existing production. It was not…
Norway's Gas Plant Suffers Unexpected Outage
Norway's Nyhamna natural gas processing plant, which supplies Britain through a pipeline under the North Sea, suffered an unexpected outage on Saturday due to power loss, its operator told the Nordic Power bourse.
Oil Settles Lower After Large US Inventory Build
Crude oil prices pared early losses but still settled lower on Thursday after a government report showed the biggest build in U.S. crude inventory in at least 14 years. The spread between WTI and global benchmark Brent widened to as much as $2.53…
Oil Slips on Chinese Concerns, Record Iraq Output
Brent crude oil prices fell below $49 a barrel and U.S. crude also fell more than $1 on Monday after the global economic outlook darkened and Iraq announced record oil production. The world's biggest energy consumer…
GDF Suez to Boost Focus on Marine Energy
French utility GDF Suez aims to double its power generation capacity from renewable energy in Europe between 2015 and 2025 and will focus in particular on marine energies, the company said on Tuesday.
ACWA Power Wins Euro Morocco Solar Power Deal
A consortium led by Saudi Arabia's ACWA Power International has won a 1.7 billion euro contract to build two solar power plants totalling 350 megawatt (MW) in the southern Moroccan city of Ouarzazate,…
BP Starts Production at North Sea Kinnoull Field
BP has started producing oil from its Kinnoull field in the central North Sea, the oil major said on Tuesday, bringing on stream a new field that feeds into BP's existing Andrew platform off the coast of Scotland.
Italy Energy Watchdog Extends Gas Supply to Ilva
Italy's energy watchdog has extended to Jan. 31 an emergency gas supply scheme that had been due to end on Monday which allows troubled steel producer Ilva to keep its doors open. Oil major Eni said earlier…
Gazprom to Buy European Partners out of South Stream Pipeline
Gazprom has agreed to buy its European partners Wintershall, EDF and Eni out of the scrapped South Stream gas pipeline project, the companies said in statements on Monday. Russia in early December abandoned the South Stream project…
New Gas Plant Could Save Ghana $300m on Fuel Costs
Ghana has begun processing gas from its offshore Jubilee oil field through a pipeline project that could save the government $300 million a year on fuel costs even with the current steep drop in oil prices, state-owned Ghana Gas said on Wednesday.
Libyan Rival Force Says Will Continue Offensive to Take Oil Ports
A Libyan force allied to a non-recognized parliament in Tripoli will continue a military offensive to take eastern oil ports but will not damage the facilities, its spokesman said on Tuesday. Ismail al…
Winter Weather, Low Renewables Drive Spot Higher
Forecasts for colder weather and a steep fall in renewable supplies in the region sent central European spot prices to multi-week highs on Monday, traders said. On regional exchanges Czech power for Tuesday…
Finland and Estonia Agree on LNG Terminal Plan
Finland and Estonia on Monday reached an agreement to build two liquefied natural gas (LNG) terminals, connected by a pipeline across the Gulf of Finland by 2019. A large regional terminal would be built…
CEPSA No Longer Interested in Buying Salamander Energy
A consortium led by Spain's Compania Espanola de Petroleos (CEPSA) said on Monday it was withdrawing from the bidding to acquire oil firm Salamander Energy, reducing the competition for rival suitor Ophir .
Russian Oil Output Declines Could Play Role in Balancing Supply
With oil prices at four year-lows all eyes are on the Gulf to cut output, but a decline in Russian output could also play a role in balancing supply. Russian oil companies could be forced to ditch new…
RusHydro Inks Deals with Chinese Firms
Russia's largest hydropower producer, RusHydro , signed agreements with two Chinese companies on Sunday that will boost Chinese investment in Russia's energy sector and could increase Russia's electricity exports to China.
Saudi Oil Pipeline Fire under Control
A fire broke out at an oil pipeline 250 km (156 miles) north of the Saudi Arabian capital, Riyadh, during repairs and is now under control, security sources said on Wednesday. One security source said that the fire was "not the work of terrorists"…
Oil Swoons 3% to New Lows; Eyes on Saudi US Discount
Oil dived more than 3 percent on Tuedsay to multi-year lows, as Saudi Arabia's sharp cut in export prices to the United States looked likely to deepen a global supply glut that has already driven prices down 30 percent since June.
Don't Rule Out OPEC Cut, Say Top Oil Traders
Forget conspiracy theories and be prepared for OPEC to cut output in November because this is what they need to do and have done in the past, veteran oil traders who run and co-own some of the world's…
