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LNG glut to dampen European carbon price rises LONDON: A glut of liquefied natural gas (LNG) over the next couple of years is likely to drive down power sector emissions in Europe, cutting demand for carbon permits and keeping a lid on prices, analysts said as they slashed price forecasts. "We think a bearish cloud is on the horizon ... as Europe accommodates the increased global LNG supply by pushing gas into power at the expense of coal," analysts at Energy Aspects said in a monthly research note published this week. The analysts cut their price forecasts for EU carbon allowances (EUAs) in 2019 by 44 percent to 10 euros a tonne from 18 euros/tonne and their 2020 price forecast by 33 percent to 14 euros/tonne from 21 euros. The EU Emissions Trading System (ETS) regulates around half of Europe's output of heat-trapping gases by forcing more than 11,000 power plants, factories and airlines to surrender a carbon ...

Statoil makes $236mn investment in floating wind farm off Scotland OSLO: Norway's oil and gas firm Statoil said on Tuesday it will invest about 2 billion crowns ($236 million) in building a floating wind farm off the Scottish coast, in what it said is set to be the first of its kind in the world.Statoil, which has run a single floating offshore turbine for several years in Norway, is now planning to build a pilot project consisting of five floating turbines, each with 6 megawatt ...
Oil prices drop on Chinese, Russian data LONDON: World oil prices fell Monday on data showing that the key manufacturing sector in China, the world's top energy consumer, shrank in October.Prices were depressed also by figures showing Russian oil output at record levels, according to analysts.Brent North Sea crude for delivery in December lost 62 cents to stand at $48.94 a barrel in late London deals.US benchmark West Texas Intermediate for December shed 38 cents to $46.21 a barrel compared with Friday's ...
Polish banks, bonds slide on Fed, local policy risks BUDAPEST/WARSAW: Bank stocks dragged Warsaw's blue-chip equities index to its lowest levels in over three weeks on fears lenders will be hit by the new Polish government's policies and rising risk aversion globally.Central European government bonds rose along with European debt yields after the Federal Reserve surprised by reviving expectations that it can start to lift interest rates in the world's biggest economy by year-end.Two of Poland's major lenders, mBank and BZ WBK, posted higher ...
Oil dips as Saudi rules out intervention LONDON: Oil retreated after Saudi Arabia's influential oil minister said Tuesday it was up to the market to determine prices, effectively ruling out an intervention to prop them up.US benchmark West Texas Intermediate (WTI) for delivery in December dipped 60 cents to $43.38 per barrel compared with Monday's close.Brent North Sea crude for December delivery was down 29 cents at $47.25 per barrel in London midday deals."Prices are a function of supply and demand," Ali ...
Oil prices fall as glut worries worsen LONDON: Oil prices fell on Tuesday, extending losses into a third week, on worries over a supply glut and with U.S. inventory data expected to show another increase in crude stocks.Brent for December delivery had fallen 30 cents to $47.24 a barrel by 1150 GMT, after settling the previous session down 45 cents.U.S. crude dropped 55 cents to $43.43 a barrel, having touched a nine-week low of $43.20 earlier on Tuesday.An expected further build in ...
Gazprom picks Linde as partner for gas processing plant MUNICH: Russian natural gas exporter Gazprom has selected Germany's Linde as a partner to build a gas processing plant (GPP) in the Russian Far East, a Linde spokesman said. The scale and details of the deal are still being negotiated, he said on Friday. Gazprom has said it is considering building an LPG terminal as part of a project to build a gas processing plant (GPP) in the Amur region. "The Amur GPP will recover ...


Index Closing Chg%
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