01202017Fri
Last update: Fri, 20 Jan 2017 12pm

Europe

Markets - Energy - Europe

UK GAS-Prices rise as outages spur buying LONDON: British wholesale gas prices rebounded on Tuesday afternoon after a series of outages were announced, which raised concerns about supply this week and prompted buying. Gas for day-ahead delivery was up 0.60 pence at 45.00 pence per therm at 1403 GMT, while gas for weekend delivery was 0.75 pence higher at 44.95 p/therm. Prices were in decline early on Tuesday due to oversupply but a series of outages at the Netherlands' Bergermeer storage site, Britain's Hornsea storage facility and Norway's Troll gas field had prompted buying, traders said. Temperatures are also forecast to fall by 4-5 degrees Celsius by the weekend, which will increase demand for gas for heating. Oil prices also rose, supported by strong demand in Asia and supply cuts by Abu Dhabi, Kuwait and Qatar as part of production curbs organised by OPEC and other exporters. However, gas for immediate delivery was still lower, down 0.25 ...

Markets - Energy - Europe

Russia signs Rosneft deal with Qatar, Glencore MOSCOW: Russian state holding company Rosneftegaz on Saturday signed a deal with the Qatar Investment Authority (QIA) and commodities trader Glencore to sell a 19.5 percent stake in state-owned oil major Rosneft, Rosneft said. The privatisation deal, which Rosneft Chief Executive Igor Sechin called the largest in Russia's history, was announced by Rosneft in a meeting with President Vladimir Putin on Wednesday.Its success suggests the lure of taking a share in one of the world's ...

Markets - Energy - Europe

OPEC to push for non-member oil cuts VIENNA: OPEC will seek Saturday to persuade other oil producers to lower production as part of a newly struck global pact to stem a crude glut and lift painfully low prices.The Vienna meeting, which includes major producer Russia, aims to nail down details on implementing the accord reached late last month.Analysts however remained divided over the gathering's impact as doubts lingered regarding countries' willingness to freeze output."We do not expect the outcome of this meeting ...

Markets - Energy - Europe

Saudi hits new oil output record in Nov amid OPEC cut talk VIENNA: Saudi Arabia boosted its oil production to a new record high in November, amid talks over a global deal to cut production, defying market expectations of lower output on slower summer domestic demand and refinery maintenance.The world's top oil exporter told the Organization of the Petroleum Exporting Countries it pumped 10.72 million barrels per day in November, an OPEC source said, an increase from 10.625 million bpd in October. In July, the kingdom's production ...

Markets - Energy - Europe

Pimco cuts overweight position on emerging market equities LONDON: PIMCO said on Thursday said it had cut its overweight position in emerging market equities on concerns over US trade policy under President-elect Donald Trump. "We've cut our EM overweight down to neutral given the heightened risk of protectionist and anti-trade policies in the US," PIMCO portfolio managers said in a note, adding that the fund remains slightly overweight emerging market debt. The fund also said it had pared its "modest underweight" position on ...