The European Union may have given North American oil and natural gas producers the cold shoulder in the past, but now European countries could be considering cross Atlantic suppliers as one possible alternative to Russian gas supplies.
Articles Tagged "europe"
Bloomberg reported yesterday that because Europe's natural gas stockpiles are currently at their highest level since at least 2009, it is unlikely that turmoil in Ukraine will cause a supply disruption.
Reuters reported that Norway's opposition Labour Party would like to see the country's $800-billion wealth fund banned from investing in coal producers. A spokesperson said that the party believes "humans are responsible for climate change so we must also see what we can do to reduce emissions."
Wood Mackenzie believes that by 2020, coal will take oil's place as the most dominant source of fuel in the world.
Reuters reported that European companies could be no longer required to have a Canadian partner in uranium mines. According to the publication, the remove of the longstanding requirement could result in greater investment in developing Canadian uranium reserves.
There's no time like the present to get involved in the coal sector.
The agreement to ship up to 900,000 barrels of Russian oil a day to China follows a huge acquisition by Rosneft, leading to fears that Russia is pursuing a policy of world energy domination.
Reuters reported that API2 coal futures for 2014 delivery dropped below the "psychologically important" level of $85 per metric ton (MT) today, declining to $84.45 per MT. They are down about 17 percent since the start of 2013.
Bloomberg reported that the price of coal for 2014 delivery to Amsterdam-Rotterdam-Antwerp dropped to $88 per metric ton, its lowest price since the contract started trading in January 2010, after Credit Suisse Group AG (NYSE:CS) cut its forecast for the region's fuel and electricity costs.
Bloomberg reported that the slump in European coal prices — the longest in at least eight years — looks set to end on the back of falling imports from the United States and production cuts in Russia and Poland.