02112016Thu
Last update: Thu, 11 Feb 2016 08pm

Europe

Markets - Energy - Europe

Oil creeps higher before US payrolls LONDON: World oil prices held firm on Friday, guided by the weaker dollar ahead of non-farm payrolls data in top global crude consumer the United States.In midday deals in London, Brent North Sea crude for April delivery added 29 cents to stand at $34.75 per barrel.US benchmark West Texas Intermediate for delivery in March added 38 cents to $32.10 a barrel, compared with Thursday's close.Shailaja Nair, from energy information provider Platts in Singapore, told AFP that crude prices have received support from the flagging dollar."The dollar will always have an add-on effect on crude oil prices... The volatility in the dollar and the volatility in crude have been like a constant for the past two to three weeks now," Nair said.Oil is traded in dollars and a softening of the US currency makes crude cheaper for holders of other units, increasing demand for the commodity.Nair added that the upcoming Lunar ...

Markets - Energy - Europe

Oil rises further above $35 on dollar, talk of producer meet LONDON: Oil rallied further above $35 a barrel on Thursday, adding to the previous session's 7 percent jump, as support from a weaker dollar offset concern about ample supply and record-high US inventories. Crude also gained as Venezuela's oil minister, on a tour to lobby for steps to boost prices, appeared to be gaining support from more members of the Organization of the Petroleum Exporting Countries and outside producers for a meeting. The dollar weakened ...

Markets - Energy - Europe

Statoil cuts spending, to offer share option on dividends OSLO/LONDON: Norway's Statoil pledged on Thursday to keep cutting capital spending as oil prices fall, after reporting better than expected fourth-quarter results, and said it would give shareholders the option to take their dividends in shares instead of cash. Statoil said it now plans capital spending this year to be in the order of $13 billion, down from $14.7 billion in 2015. Last October it had forecast total capital spending in 2015 would be $16.5 ...

Markets - Energy - Europe

Russia's Gazprom says no need for gas price war in Europe MOSCOW: The deputy head of Russian gas giant Gazprom said on Thursday the was no need to wage a pricing war with rivals over European gas markets. Alexander Medvedev also said that if productions costs and prices for liquefied natural gas fell, Gazprom would have to respond by cutting costs. Copyright Reuters, 2016 ...

Markets - Energy - Europe

World's biggest wind farm given go-ahead off Britain LONDON: A wind farm that would be the largest in the world and power more than a million homes has been given the go-ahead in Britain.Offshore wind developer Dong Energy said Wednesday a final decision had been made to construct the 1.2 gigawatt Hornsea Project One scheme off the coast of Yorkshire in northern England.Scheduled for completion by 2020, the giant development would span 160 square miles (407 square kilometres) and use 174 wind turbines, ...