09272016Tue
Last update: Tue, 27 Sep 2016 06am

Europe

Markets - Energy - Europe

Russia says reaching oil output freeze deal not critical: RIA MOSCOW: Reaching an agreement to stabilise global oil prices, including a possible deal to freeze output, is "non-critical" for Russia, its Energy Minister Alexander Novak was quoted by Russian news agencies as saying on Sunday. "For us, in principle, it's non-critical, but we believe that the process of market rebalancing could be advanced. It's beneficial for all," RIA quoted Novak as saying. Members of the Organization of the Petroleum Exporting Countries will meet on the sidelines of the International Energy Forum in Algeria from Sept. 26-28, where they will discuss a possible output-limiting deal. Copyright AFP (Agence France-Presse), 2016 ...

Markets - Energy - Europe

Algeria says all options 'possible' for Algiers OPEC gathering ALGIERS: All options are possible for OPEC concerning an output cut or freeze with producers agreed on the need to stabilize the market, Algerian Energy Minister Noureddine Bouterfa said on Sunday.Members of the Organization of the Petroleum Exporting Countries will meet on the sidelines of the International Energy Forum in Algeria from Sept. 26-28, where they will discuss a possible output-limiting deal. "We will not come out of the meeting empty-handed," Bouterfa told reporters in ...

Markets - Energy - Europe

Europe Distillates-Diesel crack steady despite oil price dip LONDON: The diesel crack was steady on Friday as a global glut counterbalanced potentials gains from a fall in oil futures due to uncertainty over a potential OPEC decision to freeze output next week in Algiers. Colonial Pipeline Co has resumed normal operations after a leak on its main gasoline line. Diesel flows were affected during the outage as gasoline was diverted through its distillates line. "US gasoil stocks are now just short of the ...

Markets - Energy - Europe

Oil prices slip after two days of strong increases LONDON: Oil prices fell on Friday in a sell-off following two sessions of strong rises and on caution ahead of a gathering of OPEC ministers next week in Algeria to discuss possible production cooperation to rein in global oversupply. Brent crude oil futures were down 60 cents, or 1.26 percent, at $47.05 a barrel, at 0903 GMT.US West Texas Intermediate (WTI) crude oil futures were trading at $45.55 per barrel, down 77 cents, or 1.66 ...

Markets - Energy - Europe

UK GAS-Prices rise on short system and ahead of winter season start LONDON: British wholesale gas prices rose on Thursday as lower Norwegian gas flows resulted in supply shortages, while other energy prices also gained ground. Gas for immediate delivery rose by 5.3 percent to 34/75 pence per therm at 1323 GMT, while the day-ahead contract gained 9 percent to 34.90 pence/therm. Britain's gas system was undersupplied by 17.2 million cubic metres (mcm) per day, with demand forecast at 208 mcm and supply at 187.5 mcm, National ...

Markets - Energy - Europe

Oil rises 2pc, underpinned by US inventory drop and dollar LONDON, Oil rose 2 percent on Thursday, heading for its largest weekly gain in a month, after a surprisingly large drop in US crude inventories emboldened investors ahead of next week's meeting between OPEC members and Russia to discuss supply.A fall in the dollar against a basket of currencies to a two-week low further underpinned the market. Brent crude futures rose 95 cents to $47.78 a barrel by 1345 GMT, up 4.3 percent so far ...

Markets - Energy - Europe

Gazprom discovers new gas deposit in Sea of Okhotsk MOSCOW: Gazprom said on Thursday it had discovered a new gas deposit during exploration at the Kirinskoye field in the Sea of Okhotsk near Russia's Sakhalin island. The field is crucial for Gazprom's plans to raise liquefied gas production at its Sakhalin-2 plant on the island. It has not disclosed the reserves of the newly discovered deposit.Shell, which also has a stake in the LNG plant, may also get a share in the Kirinskoye field ...