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Greenpeace blocks Chevron's Romanian shale gas site PUNGESTI: Around 20 Greenpeace activists blocked access to a shale gas exploration site in Romania on Monday, in a third attempt to scupper the drilling operations of US energy group Chevron.Protesters locked hands and sat in front of the entrance to a drilling position in the northeastern village of Pungesti. They prevented a lorry from entering and displayed banners reading "No to fracking". Fracking is a controversial extraction technique that consists of injecting water and chemicals deep into rock to release gas.Environmentalists warn that chemical-laced waste could contaminate fresh water resources, while the fracking itself could cause minor earthquakes.Chevron started drilling its first exploratory Romanian well in May despite fierce opposition from residents who fear environmental damage in an area dependent on agriculture. "Shale gas exploitation can not be done if it affects the life of hundreds of thousands of people living in the areas given in concession", said Laurentiu ...

Oil steadies below $111 as supply fears fade LONDON: Brent crude oil steadied under $111 a barrel on Monday, just above a three-week low, as Libya geared up to resume oil exports from two ports closed for nearly a year.The North Sea oil benchmark dropped 2.3 percent last week, its biggest weekly decline since January, on the Libyan news and as Iraq's oil exports have remained largely unaffected by fighting in the north of the country.Supply of oil to several major markets, including ...
Oil prices dip on Iraq crisis LONDON: Oil prices eased on Monday as dealers balanced declining concerns over the jihadist insurgency in Iraq with upbeat sentiment about US demand following strong jobs data, analysts said.Brent North Sea crude for delivery in August dipped one cent to stand at $110.63 a barrel around midday in London deals.US benchmark West Texas Intermediate for August fell 22 cents to $103.84 compared with Friday's close.Desmond Chua, market analyst at CMC Markets in Singapore, said oil ...
UK gas spot prices drop to lowest since September 2010 LONDON: British spot gas prices traded at their lowest since September 2010 on Monday morning as healthy supplies clashed with low summer demand and high storage levels following a mild winter and spring.Gas prices for delivery the next working day traded as low as 35.00 pence per therm, their weakest since touching 33.45 pence per therm on Sept. 20, 2010.By 0812 GMT the contract was trading at 35.10 pence per term, down 1.30 pence on ...
Oil slips towards $110 as supply fears fade LONDON: Brent crude oil slipped to a three-week low under $111 a barrel on Monday as Libya geared up to resume oil exports from two ports closed for nearly a year.The North Sea oil benchmark dropped 2.3 percent last week, its biggest weekly decline since January on the Libyan news and as Iraq's oil exports have remained largely unaffected by fighting in the north of the country.Supply of oil to several major markets, including Europe, ...
Russian gas flows to Europe via Ukraine stable on Monday: Gazprom MOSCOW: Russia's Gazprom said on Monday Russian gas flows to Europe via Ukraine remained stable.Gazprom cut gas supplies to Kiev on June 16 after Ukraine failed to pay off at least part of its gas debts. Europe gets around a third of its gas needs from Russia.Copyright AFP (Agence France-Presse), 2014 ...
West Africa Crude-Grades slip further on sluggish demand LONDON: Nigerian crude oil price differentials remained under pressure on Friday having fallen this week, weighed down by slack demand from large Asian buyers.Nigeria's largest stream, Qua Iboe, was assessed at its lowest premium to dated Brent in two years. Refining margins in Europe and Asia have been weak, curbing non-essential buying interest, say traders."Margins and cracks have improved, but it does not seem to changed things very much," said one.With ample supply of Nigerian ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
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MonthlyMay
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