Europe
Saturday, 13 April 2013 21:24
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OSLO: Norway's top natural gas processing plant is expected to be back in full operation later on Saturday after its restart was unexpectedly delayed, gas system operator Gassco said. The Kollsnes plant on Norway's west coast was shut on Friday for maintenance but its restart took longer than expected because of low gas flows from the massive Troll field in the North Sea. Gas deliveries to the Kollsnes plant were still too low to declare the plant was back in operation, Gassco said in a market statement, which they later updated to add, "Upstream fields are slowly increasing production and are expecting to be in full production from 16:00 CET (1400 GMT)." Norway supplies about a fifth of the European Union's gas needs and Kollsnes, with its 145 million cubic metre per day capacity is its biggest processing unit. Troll alone accounted for 30 percent of Norway's gas production last ...
LONDON: North Sea oil output is set to fall by just over 2 percent in May from April, but supply remains ample by comparison with tepid refinery demand and is likely to keep Brent oil prices under pressure. Output from 12 crude streams tracked by Reuters will average 1.934 million barrels per day (bpd) in May based on the latest information from loading schedules and trading sources, down slightly from 1.977 million bpd in April. ...
LONDON: Brent crude oil slipped towards $105 per barrel on Thursday after US crude oil stocks hit their highest level in more than two decades and analysts cut forecasts for global oil demand growth.Disappointing economic growth in the United States and several developing economies as well as deep recession in parts of Europe have eroded demand for fuel at a time when oil output has been increasing quickly, particularly in North America.Surplus oil is filling ...
LONDON: North Sea Brent crude oil rebounded more than $1 per barrel on Monday, recovering from eight-month lows on hopes that global economic growth would bring higher demand for fuel.Brent futures for May rose $1.05 per barrel to a high of $105.17 before easing back slightly to trade around $105.05 by 0839 GMT.Brent hit an eight-month low of $103.62 per barrel on Friday after disappointing US jobs data, but traders said the sell-off may have ...
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