Energy

BRITAIN-NORWAY-OIL-EARNINGS-STATOIL

Statoil's dividend irks major wealth fund

The Norwegian government is reeling under pressure owing to oil price drop. The lower oil price is eroding revenues for the government. The Norwegian government is counting on state's dividends from Statoil ASA.

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 GERMANY-THEME-GREEN-INNOVATIONS

UK Green Bank And BlackRock Consortium Acquires GLID Wind Farms For £423 million

The UK Green Investment Bank Financial Services ties up with world’s largest asset manager BlackRock to purchase GLID Wind Farms. The farms located in Aberdeenshire, Scotland and Lincolnshire are capable of producing 220 MW clean powers. With the acquisition, GIBF will produce 3,970 GWh of clean power each year. Meanwhile, BlackRock will own and manage 66 wind and solar projects in Europe and North America on behalf of its clients.

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Nigerian Economy And Oil In Niger Delta And Port Harcourt

Nigeria's National Oil Company Announced an Annual Loss of $1.34 Billion

The loss is combined from its corporate service unit and its three refineries. The total annual loss was consistent with the company's continuing monthly loss over the past year. Nigeria, as Africa's biggest economy and largest oil producer, has been greatly suffered the oil prices fall.

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GERMANY, Rostock, Giant pipes made by EEW Special Pipe Constructions GmbH in Rostock for the offshore wind farm Walney 2 in the northern North Sea, The pipes are being taken to the transport ship from the EEW grounds.

Beijing Electric Acquires EEW For €1.44 Billion, The Largest Ever Chinese Direct Investment In Germany

BEHL is going to purchase the leading German waste to energy recycler EEW for €1.44 Billion. The deal appears to be the largest ever Chinese direct investment in Germany. Following legal obligation, the transaction will be cleared under the German Foreign Trade and Payments Ordinance.

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Spanish Royals Visit Morocco - Day 2

Morocco King Unveils First Phase of The World's Largest Solar Plants

The completion of the first stage will also begin the second and third stage of the project. Once finished this power plant will be the world's largest, providing electricity for 1.1 million people in Morocco. The project would also help reduce the country's dependence on imported energy source as well as reducing carbon emission.

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Declining Stock Market In The Year Of Goat

Asian Markets Shows Remarkable Rise as Crude Oil Prices Increased

The rise of oil prices had brought positive growth to most of the Asian markets, except for Japan. On the other hand, European market had seen a drop. The oil prices increased overnight due to speculations that U.S Federal Reserve would possibly decide not to increase interest rates throughout 2016.

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Shell Announce Record Profits

Shell Q4 earnings fall 44%; confirms job cuts

Royal Dutch Shell said that its profit for the fourth quarter dropped 44% as the price of the crude oil tumble. The UK-based oil firm also confirmed that it is trimming 10,000 jobs, a move to reduce its costs.

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Views Of Tankers & Refineries As Oil Trades Near 12-Year Low

Cheap oil benefits consumers, hits governments

The lower oil price for about 19 months is benefiting the consumers, but creating a lot of problems for the global governments and business firms. Many banks and the US government forecast oil price above $40 a barrel this year. The oil price fell to below $30 during the past 19 months from $107 a barrel.

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Views Of Tankers & Refineries As Oil Trades Near 12-Year Low

Oil price may rebound 50% in 2016

The latest forecast indicates 50 percent rebound in oil prices by the end of 2016. The oil price could be higher by $15 per barrel this year taking the New York crude to $46 a barrel by fourth quarter and Brent to $48 during the same period. The drop in US shale output is likely to drive oil price up in the second half of 2016.

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Traders Work On The Floor NYSE As Stock Rout Deepens

Dow Jones was Down 300 Points on Tuesday as Exxon and Energy Shares Plunge

Stocks dipped to session lows on Tuesday. Shares of oil companies plunged as crude oil continued to slide. Three of major indexes also fell.

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A Visit To Zotye International Automobile Trading Co., Ltd.

China factories output drops more than forecast

China's benchmark Purchasing Managers' Index (PMI) fell to lowest in the three-and-a-half years. PMI was at 49.4 for January as against average forecast of 49.6. The PMI was 49.7 in December 2015. The disappointed China factory output data pulled oil prices lower.

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OAO Gazprom Headquarters And OAO Gazprom Neft Gas Stations

Gazprom Will Increase Its Supplies to Europe to the Record-High Level

Russian's Gazprom planned to meet investors in New York and London this week. The company plan to increase its gas supplies to European countries.

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Offshore Oil Production In Nigeria's Agbami Deepwater Oilfield

Nigeria seeks $3.5 bln loans to fill budget gap

Nigeria requires $3.5 billion funds to fill its $15 billion budget deficit. The falling oil prices are eroding revenues for the government. The largest economy in Africa is seeking $2.5 billion loan from the World Bank and $1 billion loan from ADB.

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Riyadh City Skyline, Construction And King Abdullah Financial District

How Long Saudi Can Endure $30 Per Barrel Oil Price And What Strategy It has

Saudi Arabia has suffered from the oil price collapse, and needs to plan a diversified economic strategy. The country has called $30 per barrel oil price is not rational, and aiming to encourage foreign investment to enter the country.

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Oil traders work in the crude oil futures pit at the New Yor

Oil rises on production cut speculation, pares losses in January

Oil prices rebounded on news that there may be production cut by OPEC. US Brent futures recouped losses by 6.8 percent and US crude pared 9.3 percent losses during the week. In overall, oil prices rebounded by over 25 percent after hitting 12-month low in January. Oil price hit $27.10 on 20 January 2016.

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