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Last update: Thu, 11 Feb 2016 09am

Europe

Markets - Energy - Europe

Gazprom says Russian gas exports to Europe up 8pc in 2015 MOSCOW: Russia's top natural gas producer Gazprom said on Monday that its pipeline gas exports to Europe rose by 8 percent last year, thanks to falling gas production in the European Union. Russia remains the largest gas supplier to the European Union, accounting for around a third of its gas needs, despite political tensions over the conflict in Ukraine.Exports by Gazprom - as measured for Turkey and the European Union, excluding the three former Soviet Baltic states - rose to 159.4 billion cubic metres (bcm) last year from over 147 bcm in 2014, the company said, citing Chief Executive Officer Alexei Miller. That is still less than 162 bcm of exports in 2013. Russian gas exports have become increasingly politicised due the conflict in eastern Ukraine, the traditional transit route for shipping Russian gas to the EU. But a desire for secure supplies of cheap gas has offset some EU ...

Markets - Energy - Europe

Oil extends losses in poor start to week LONDON: Oil prices fell further Monday on worries about China's growth slowdown and a supply glut, but analysts said tensions between producer giants Iran and Saudi Arabia could lend some support.Around midday in London, Brent North Sea crude for delivery in February stood at $32.87 a barrel, down 68 cents from Friday's closing level.US benchmark West Texas Intermediate for February dipped 45 cents to $32.71 per barrel.The oil market plunged by ten percent last week, ...

Markets - Energy - Europe

Green campaigners back Italian giant's tilt to renewable energy ROME: Italian energy giant Enel was Monday putting the finishing touches to a corporate restructure designed to put renewables at the core of the company's strategy in a move hailed by erstwhile critic Greenpeace.Enel Green Power (EGP), a separately-listed subsidiary which is active in wind, solar power, hydro-electric, geothermal and biomass power generation, is to be fully integrated into Enel under plans almost unanimously approved by EGP shareholders on Monday.ENEL shareholders were to vote later ...

Markets - Energy - Europe

Med Crude-Urals stronger in Med, steady in Baltic LONDON: Russian Urals crude strengthened in the Mediterranean on Thursday widening the gap with the weaker Baltic market and potentially encouraging more cargoes from Europe's north to sail to the south.In the Platts window, Vitol offered an Aframax tanker at dated Brent minus $1.15 a barrel and Shell was bidding at dated Brent minus $1.40 a barrel, some 20 cents stronger than previous price estimates.Vitol was also offering a Urals cargo in the Baltic at ...

Markets - Energy - Europe

Oil slides below $33 to near 12-year low as China turmoil rattles investors LONDON: Oil fell below $33 a barrel on Thursday for the first time since April 2004 as a slide in Chinese shares rattled investors already concerned by near-record production and massive stockpiles of unwanted crude and refined products. Oil prices have fallen by about 70 percent since mid-2014, hurting oil companies and governments that rely on crude revenue. China allowed its yuan currency to slip on Thursday, sending regional currencies and stock markets globally tumbling.The ...

Markets - Energy - Europe

Argentina tenders to buy nine LNG cargoes for Jan-March delivery LONDON: Argentina's YPF has launched a tender to buy nine liquefied natural gas (LNG) cargoes for January to March delivery, trade sources said. One of the cargoes is to be delivered to the Bahia Blanca terminal, 640 km south of Buenos Aires, while the other eight are for Escobar on the Parana River, two traders said. The tender closes on Monday, one trader said. Copyright Reuters, 2016 ...

Markets - Energy - Europe

Oil hits 11-year low, Saudi-Iran row cuts chances of output restraint LONDON: Oil prices hit their lowest in over 11 years on Wednesday, as the row between Saudi Arabia and Iran was seen making any cooperation between major exporters to cut output even more unlikely. Evidence of slowing economic growth in China and India has fuelled fears that even strong demand elsewhere may not be enough to mop up the excess crude that has resulted from near-record production over the last year. The furore over Saudi ...