News Archive for: October 2015

Crude prices edged down in early Asian trading on Monday as a weak demand outlook means oversupply will likely remain in place for months and as speculators cut their bets on rising prices.Front-month US crude futures were trading at $44.58 per barrel ear;y on Monday, 2 cents below their…

Oil prices extended gains into a second day in Asian trade on Friday, finding support from brighter economic data and a global stock market rally after the European Central Bank signalled its willingness to launch more stimulus measures.Brent for December delivery rose 36 cents to $48.44 a barrel early on Friday…

Egdon Resources is to press ahead with its plans for the Wressle oil and gas discovery located to the east of Scunthorpe in Lincolnshire, England .

The company said it was now sufficiently comfortable to continue working towards compiling a field development plan on licence PEDL180 without requiring further time-consuming…

MOL Group has signed a deal to acquire Eni’s business in Hungary.

The company said the move would contribute to MOL’s growing retail presence within the supply radius of its refineries.

Eni Hungaria currently own 183 Agip branded service stations in the country.

Ferenc Horvath, downstream executive vice president, for MOL Group…

Oil prices fell on Wednesday after data from an industry group showed a larger-than-expected build in US crude inventories last week, fanning worries over global oversupply, even as a slightly weaker dollar provided some support.Brent crude for December delivery had fallen 16 cents to $48.55 a barrel early on…