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Norway gas output down by a tenth on Friday due to outages OSLO: Norwegian gas output will be down by 36 million cubic metres on Friday, about a tenth of the country's capacity, due to the lingering effect of several unplanned outages, gas system operator Gassco said in a market message on Friday.Output at Troll, the country's biggest gas field, will be down 19 million cubic metres (mcm) on Friday due to process problems during a restart after a complete outage on Tuesday.Production at the Aasgard field will be down by 10 mcm due to compressor problems while output at Kvitebjoern will be down by seven mcm, Gassco said. Norway is western Europe's top gas exporter, supplying about a fifth of the European Union's gas needs.Copyright Reuters, 2015 ...
North Sea Crude: Forties edges up, Oseberg weakens LONDON: North Sea Forties crude price differentials edged up on Thursday as Trafigura continued bidding, but Oseberg weakened against a backdrop of ample supplies for February. "There is a lot of oil in the market and this quarter, global demand is seasonally low," said Abhishek Deshpande, an oil analyst at Natixis. Several new fields are coming on stream this month, helping to offset declining output from older fields such as Buzzard. On Thursday, BG Group ...
Europe Gasoline/Naphtha: Gasoline supported by West Africa, US rally LONDON: Gasoline refining margins in northwest Europe strengthened on Thursday as strong demand from West Africa continued to underpin the market, and as traders caught up with a late rally in US gasoline futures in the previous session. US RBOB gasoline futures had spiked late on Wednesday, rallying by as much as 10 percent as traders eyed stronger demand after sharp price falls in the world's largest consumer of the fuel. Strong demand from Nigeria, ...
Weak oil dictates mutual fund winners and losers in 2014 LONDON: Weak oil prices shaped the performance of mutual funds in 2014 and investors expect the trend to continue, meaning last year's star, India, is likely to keep shining in the months to come.Equity funds were led by those specialising in India - an energy importer - while funds focused on oil exporter Russia dominated the bottom of the league, according to Lipper, a fund ratings, ranking and information company belonging to Thomson Reuters, and ...
Italy's Eni plans partial April turnaround at Milazzo refinery LONDON: Italy's Eni will perform maintenance work at its 160,000 barrel per day Milazzo refinery in April, traders said on Thursday. The full refinery will not shut down, traders said, as the work will only impact some of the units. A spokesman for Eni declined to comment on the company's maintenance plans. Copyright Reuters, 2015 ...