News
Price Gap Narrowing Between Brent and WTI Crude
Written by Erik Thorsen Wednesday, 23 November 2011 20:00
Prices of the US benchmark for crude, the West Texas Intermediate, came closer to the European benchmark, Brent crude oil. The gap is narrowing and this means a benefit for the airline companies.
Circumventing Iran's Crude Oil
Last Updated on Tuesday, 22 November 2011 17:37 Written by Erik Thorsen Tuesday, 22 November 2011 00:00
Yesterday, the US, UK and Canada announced the imposing of new sanctions against Iran. This political pressure on Iran's oil exports and finances has the declared goal to make its leaders stop enriching uranium in their quest for developing nuclear military capabilities.
The response of the Iranian Oil Minister, Rostan Qhasemi mentioned in an interview with Al Jazeera that "We don't consider crude oil as a political tool, however if necessary, we'll use it as a tool anyway we need to."
North Sea Oil Fields Fading? No Way!
Written by Erik Thorsen Friday, 18 November 2011 00:00
There were rumors that crude reserves offshore Norway would deplete and consequently the Brent will eventually fade from the market. But geology is not confirming the scarcity news. On the contrary. Statoil announced that a newly discovered oil field measures gigantic proportions - somewhere between 500 million and 1.2 billion recoverable barrel field. A more precise estimate is expected and that may bring even better news about the oil reserves under the North Sea.
From Nuclear Germany to Russian Natural Gas
Written by Erik Thorsen Thursday, 17 November 2011 00:00
Last week, the Nord Stream Pipeline was inaugurated. This new gas grid will directly bring natural gas to Germany, and Western Europe, via the Baltic Sea. It is planned to operate for at least fifty years. With Germany planning to gradually close its domestic grid of nuclear power plants, it looks like the Russian natural gas imports will be a major replacement. See? It never was about global warming...
The Mamba Gas Reserve, New Discoveries
Written by Erik Thorsen Wednesday, 16 November 2011 00:00
Yet another monstrous natural gas deposit was revealed under the waters off the coast of Mozambique.
"The Mamba South 1 discovery well is located in water depths of 1585 meters approximately 40 km off Cabo Delgado coast, in the Northern offshore of Mozambique. This is the first exploration well in Area 4."?
