The UK will “dominate” new crude and gas projects in the North Sea. The nation will be responsible for 25 out of 36 schemes expected to be completed by 2025 in the region, according to a report by GlobalData. The UK will develop five gas and 20 oil projects. The remaining nine will be located […]
ExxonMobil has announced plans to invest in increasing crude oil capacity in the US. It will expand its Beaumont refinery in Texas, boosting capacity by 20,000 barrels a day. The facility currently processes 365,000 barrels of crude oil per day and produces 2.8 billion gallons of gas every year. The company said the increase is […]
Find out about what’s influencing gas supply, power prices and what you should watch out for in this weekly update on the energy market from Sammy Blay, Client Portfolio Manager at npower. If you are blocked from seeing this video and would like your own download, please email [email protected] .
China is on course to import $500 billion (£319bn) of crude oil by 2020, far outspending the US, as more of its citizens plump for their own cars. By 2020 the Asian superpower will rely on imports to meet 70% of its demand according to new analysis which predicts between 2005 and 2020 Chinese imports […]
Last week we saw a rise in both power and gas, npower’s Magali Hodgson explains the reasoning behind this & the effect that various fundamentals are likely to take in the technical price action ahead.
The Essex refinery at Coryton is about to close with administrators expecting a “substantial number of redundancies” from the 500 strong workforce over the next few months. Administrators PricewaterhouseCoopers spoke to over 100 possible investors and purchasers but were unable to reach a deal. The Coryton plant in Essex was put into administration in February […]
The Coryton refinery in Essex has had a number of companies express interest in acquiring the site, says one of its administrators PricewaterhouseCoopers. Recently threatened with closure after its owner Petroplus filed for insolvency, the plant has managed to continue operations since PwC took the reins on 24th January. According to reports from Reuters, Coryton […]
As news over the last couple of days revealed a surge from Libyan rebels, oil prices started to fall as markets gained confidence in the likelihood of increased production from the North African State. Brent crude futures fell 1.7% to $106.80 a barrel while some analysts have predicted price stabilization at around $100. Markets are […]
As the cost of Brent crude hit $100 a barrel for the first time since 2008 this week, one of the UK’s biggest energy buyers said the political unrest in Egypt has given traders the reason they’ve been looking for to inflate oil prices. Analyst David Hunter from M&C Energy Group said: “The Brent crude […]