Cnooc Ltd. (883), China’s biggest offshore oil and gas explorer, said first-half profit fell as higher spending and little-changed average oil prices undercut an increase in oil and gas production, according to Bloomberg.
OPEC is not worried about a slide in oil prices toward $100 a barrel, delegates from the producer group said, with current levels seen as acceptable for producers while higher seasonal demand in the coming weeks was expected to support the market.
Global world oil demand is due to increase further next year thanks in part to resurgent growth in developed countries, OPEC said in its first forecast for 2015.
Day-ahead natural gas prices in the U.K. and continental Europe continued to fall in June after reaching multi-year lows in May, according to data just released by Platts, a leading global energy, petrochemicals and metals information provider.
Crude oil prices have been on the increase in recent weeks, with concerns over disruption in supply driving up some international benchmarks to as high as $115 a barrel.
Kiev will have to pilfer Russian gas pumped to Europe through Ukraine as it has chosen not to pay for the supplies, Deputy Economic Development Minister Andrei Klepach said May 29, Prime has reported.
Lithuania’s major gas distributor Lietuvos Dujos has signed an agreement with Russian gas giant Gazprom to cut supply prices, the company said in a statement on May 29 without disclosing the prices, Prime has reported.
Iran increased the prices of semi-subsidized and free market gasoline as part of the implementing the second phase of subsidy reform plan, Trend reported on April 25.
Crimea will receive liquefied natural gas (LNG) at prices equivalent to Russian, Crimean First Deputy Prime Minister Rustam Temirgaliyev told reporters, ITAR-TASS said on April 11.
Ukraine's interim government says it will raise gas prices for domestic consumers by 50% in an effort to secure an International Monetary Fund (IMF) aid package, the BBC reported on March 26.