Crude oil prices declined amid concern for production growth in Libya

Oil production facility

The crude oil prices declined moderately amid concern that the growth of production in Libya could compromise the agreement of OPEC for yields reduction. The futures of Brent oil with March delivery on London’s ICE Futures Exchange fell by 0.19 USD (-0.34%) to 56.27 USD per barrel. The quotations for the US light WTI crude with delivery in February More...

by Silvia Hristova | Published 4 months ago
China green energy
By Victoria Lynden On Thursday, January 5th, 2017

China plans to invest 360 billion USD in green energy since 2020

China plans to invest 2.5 trillion CNY (360 billion USD) in green energy since 2020. The country’s government aim is to reduce the use of coal, which is main supplier of energy at the moment. The raw material More...

By Viliyana Filipova On Wednesday, January 4th, 2017

OPEC plans meeting of the commission that controls oil production

OPEC plans meeting of the commission that controls the oil production, estimating if the agreement from December for yields cut is followed. It will be held in Vienna on January 21 and 22. The meeting will be attended More...

Crude oil production
By Viliyana Filipova On Tuesday, January 3rd, 2017

Crude oil price reported its biggest annual growth since 2009

The crude oil prices are rising at the very beginning of 2017, supported by the agreement to reduce the oil production in OPEC and outside the cartel, which came into force on January 1. The raw material finished More...

Investment Gold
By Viliyana Filipova On Tuesday, January 3rd, 2017

Gold price ended 3-year series of annual declines

The gold price ended the three-year series of declines and rose by 9.8% in 2016. Already in the first half of the year, the price of the precious metal grew, as the US Federal Reserve remained cautious with regard More...

Iran oil business
By Viliyana Filipova On Tuesday, January 3rd, 2017

Iran whitelisted 29 international companies for developing oil and gas projects

The Iranian oil ministry published a list of 29 international companies have been approved to participate in tenders for oil and gas projects of the country, after the repeal of sanctions following the nuclear agreement. More...

PDVSA petrol station
By Silvia Hristova On Monday, January 2nd, 2017

Venezuela sells gasoline against foreign currency on Colombian border

Venezuela selling gasoline against foreign currencies in the region on the border with Colombia, said President Nicolas Maduro. The sale of fuel against foreign currencies, including Colombian pesos, will be in More...

Solar energy
By Viliyana Filipova On Sunday, January 1st, 2017

Solar energy become cheapest source of new electricity

With the coming of the new year it is worth to mention that on the global energy markets the solar power for the first time become the cheapest source of new electricity against basic commodities. In the past there More...

Barrel oil
By Victoria Lynden On Thursday, December 29th, 2016

Crude oil prices declined after surprise increase of US inventories

The crude oil prices declined on Thursday after a surprise increase in oil inventories in USA. The American Petroleum Institute reported that inventories grew by 4.2 million barrels in the week to December 23, beating More...

By Silvia Hristova On Wednesday, December 28th, 2016

China reduces tariffs paid for renewable energy

China reduces the amount of money paid for facilities, which generate solar and wind power to the energy network of the country. The decision of the second largest economy in the world corresponds to the decrease More...

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