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UK gas prompt prices edge lower as supply outstrips demand LONDON: Prompt natural gas prices in Britain fell on Thursday morning as higher imports from the Netherlands contributed to an oversupplied system.Prices for within-day delivery were trading at 51.70 pence per therm at 0930 GMT, down 0.30 pence since their last settlement. Prices for delivery on Friday were down 0.65 pence at 51.45 pence per therm.With supply flows at about 243.4 million cubic metres (mcm) per day on Thursday and demand expected to be about 239.8 mcm, the system was 3.6 mcm oversupplied, National Grid data showed.Flows through the BBL pipeline, which transports gas from the Netherlands to Britain, were around 20 mcm/day on Thursday morning, up from levels around 15 mcm during the day on Wednesday, according to National Grid data.Analysts at Thomson Reuters Point Carbon said that demand for gas from utilities could dip during the day because of higher output from Britain's wind power generators."Weather forecast suggests ...
Brent steady below $83 as oversupply neutralises shocks LONDON: Brent crude oil was steady below $83 a barrel on Thursday as apparent momentum towards a deal between Iran and world powers over its nuclear programme and higher U.S. inventories offset supply shocks in the Middle East.U.S. Secretary of State John Kerry said on Wednesday that a deal between Iran and six world powers would be harder to achieve after a Nov. 24 deadline, suggesting a degree of urgency ahead of planned talks in ...
North Sea Brent oil loadings to fall in December LONDON: The North Sea Brent crude oil production stream will load about 116,000 barrels per day (bpd) in December, down from the 140,000 bpd originally planned for November, a trade source said on Thursday. The December programme lists six cargoes of 600,000 barrels each, compared with seven for November. Copyright Reuters, 2014 ...
Statoil suspends Transocean, Songa rigs OSLO: Norway's Statoil suspended two drilling rigs on Thursday until the end of the year and may even extend the suspension due to overcapacity in its fleet, it said on Thursday. "The suspension is a result of overcapacity in Statoil's rig portfolio, and unsuccessful attempts to mature alternative assignments for the rig," Statoil's said. It has suspended work with Transocean's harsh environment ultra-deepwater Spitsbergen rig and with Songa's semi-submersible Trym vessel. Copyright Reuters, 2014 ...
Danish ship fuel supplier OW Bunker says hit by fraud COPENHAGEN: Danish ship fuel supplier OW Bunker on Thursday said it had been hit by fraud committed by senior employees in its Singapore-based subsidiary, with potential losses of about $125 million."OW Bunker is currently in discussions with the syndicate banks. OW Bunker will inform the market further as soon as possible," the company said in a statement.Copyright Reuters, 2014 ...