09272016Tue
Last update: Tue, 27 Sep 2016 05pm

Europe

Markets - Energy - Europe

Oil prices slip after two days of strong increases LONDON: Oil prices fell on Friday in a sell-off following two sessions of strong rises and on caution ahead of a gathering of OPEC ministers next week in Algeria to discuss possible production cooperation to rein in global oversupply. Brent crude oil futures were down 60 cents, or 1.26 percent, at $47.05 a barrel, at 0903 GMT.US West Texas Intermediate (WTI) crude oil futures were trading at $45.55 per barrel, down 77 cents, or 1.66 percent, from their previous close.Still, the benchmarks were on track to close the week higher.While traders said that the declines were largely down to technical indicators and selling pressure following strong price gains in the previous two trading sessions, there are also looming supply additions from Nigeria and Libya that could help cap prices in the near term."You have both planned increases in production - ie, Iran - and a decrease in unplanned outages," said ...

Markets - Energy - Europe

UK GAS-Prices rise on short system and ahead of winter season start LONDON: British wholesale gas prices rose on Thursday as lower Norwegian gas flows resulted in supply shortages, while other energy prices also gained ground. Gas for immediate delivery rose by 5.3 percent to 34/75 pence per therm at 1323 GMT, while the day-ahead contract gained 9 percent to 34.90 pence/therm. Britain's gas system was undersupplied by 17.2 million cubic metres (mcm) per day, with demand forecast at 208 mcm and supply at 187.5 mcm, National ...

Markets - Energy - Europe

Gazprom discovers new gas deposit in Sea of Okhotsk MOSCOW: Gazprom said on Thursday it had discovered a new gas deposit during exploration at the Kirinskoye field in the Sea of Okhotsk near Russia's Sakhalin island. The field is crucial for Gazprom's plans to raise liquefied gas production at its Sakhalin-2 plant on the island. It has not disclosed the reserves of the newly discovered deposit.Shell, which also has a stake in the LNG plant, may also get a share in the Kirinskoye field ...

Markets - Energy - Europe

Oil rises 2pc, underpinned by US inventory drop and dollar LONDON, Oil rose 2 percent on Thursday, heading for its largest weekly gain in a month, after a surprisingly large drop in US crude inventories emboldened investors ahead of next week's meeting between OPEC members and Russia to discuss supply.A fall in the dollar against a basket of currencies to a two-week low further underpinned the market. Brent crude futures rose 95 cents to $47.78 a barrel by 1345 GMT, up 4.3 percent so far ...

Markets - Energy - Europe

Total says actively moving towards Uganda FID as early as end-2017 PARIS: French oil and gas company Total is actively moving towards a final investment decision as early as end-2017 for its giant onshore oil project in Uganda, president for exploration and production Arnaud Breuillac told investors on Thursday. Uganda granted Total a 25-year production license for the project in August, clearing a major hurdle as the east African nation aims to move more quickly towards crude production. An agreement on an export pipeline route through ...