Category: Europe

Geneva’s army of oil traders embraces profits a crash brings

Lower prices have cut financing costs, provided an opportunity to lock in profits by storing fuels and heralded the return of big price swings that can help firms from Vitol Group to Trafigura Beheer BV generate higher returns.  More »

Cheniere lands 20-year natural gas deal in Portugal

The natural gas boom in the U.S. has led to a rush by major producers to put into place the infrastructure to ship overseas.  More »

Putin says Russian economy must brace for $40-a-barrel oil

The Russian central bank published a worst-case economic scenario Dec. 15 that envisioned oil prices averaging $60 a barrel until the end of 2017.  More »

Oil trades near 5-year low as Russia echoes OPEC output policy

Oil has slumped about 45 percent this year as a surge in shale drilling lifted U.S. output to the fastest pace in three decades amid slower growth in world demand.  More »

Ruble slides again as falling oil prices take toll

The ruble has lost half of its value this year. But the decline intensified in the past months as the economy came under pressure from Western sanctions and plunging oil prices.  More »

Cheap oil is hitting these countries the hardest

The pain being felt in OPEC countries is likely being taken as good news in U.S. foreign policy circles.  More »

Russia warns of recession next year

Russia’s economy has been damaged by low oil prices, a key export and the backbone of the state budget, as well as Western sanctions over its role in eastern Ukraine.  More »

German utility company E.ON to focus on renewables

E.ON said in a statement late Sunday that the new strategy will see it quit conventional power generation, global energy trading, exploration and production.  More »

Russian oil-output cuts to support OPEC seen as unlikely

Brent crude oil futures rose as much as 0.8 percent to $80.30 a barrel in London trading Tuesday.  More »

Russia considers joining OPEC oil output cuts in 2015

The world’s biggest crude oil producer may agree to reduce output by 15 million tons in return for tens of millions in OPEC reductions.  More »

Russian FM rejects intervention in oil production

Sergei Lavrov said both Russia and Saudi Arabia did not want oil production targets to be affected by “political or geopolitical designs.”  More »

Ineos to invest $1B in UK shale gas exploration

The company is applying for more licenses to expand its operations in Scotland and in northern England.  More »

Putin says Russia preparing for “catastrophic” oil slump

Russia is struggling under the weight of a plummeting ruble and sanctions imposed over the conflict in Ukraine.  More »

Former Russian finance minister tells Rosneft to keep hands off $44B from rainy day fund

For Rosneft, the timing of the economic sanctions against Russia couldn’t have been worse: the company has to repay almost $30 billion in loans by the end of the next year, debt racked up in the 2013 purchase of competitor TNK-BP.  More »

Dutch to test solar panels on bicycle path

The path is built of massive, Lego-like modules of solar panels embedded in concrete.  More »
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