Energy Sector

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Stockpiles Scale in U.S but Brent Steady

Stockpiles Scale in U.S but Brent Steady

On Thursday Brent futures went up as Russia promised to react in case the interests that it had in Ukraine came under threat. The news came amongst rising fears about a growth in worries that have shot up the benchmark for oil by 5 percent in the current to stay close to somewhere near $109 per barrel.

US average gas price increased 4.9 cents in past two weeks

US average gas price increased 4.9 cents in past two weeks

The most recent gas survey from Lundberg Survey Inc. has revealed that, in the last two weeks, there has been a 4.9-cent increase - to $3.61 per gallon - in average price for regular gasoline in the US.

US gas prices have increased 26 cents a gallon

US gas prices have increased 26 cents a gallon over past six weeks

According to the latest survey released by industry analyst Trilby Lundberg, there has been a 26-cent per gallon increase in US gas prices over the last six weeks. The increase represents a $4 typical gas tank.

LG announces 'smart' LED

LG announces its first ‘smart’ light – the ‘Smart Lamp’

In a move which underscores LG's take on the 'smart' LED light bulb, the bigwig electronics maker has recently announced its first smart light - dubbed the LG 'Smart Lamp' - which is priced at 35,000 (nearly $35); and is available in South Korea.

US Natural Gas industry speeds exports to back Congress’ efforts

US Natural Gas industry speeds exports to back Congress’ efforts

Capitol Hill has been getting a strong backing by the United States Natural Gas industry which has been expediting its sales overseas in order to restrict the influence of the Russians.

BP bids $41.6 million for Gulf Oil Lease

BP bids $41.6 million for Gulf Oil Lease

A few days ago, the United States Government granted British energy giant, BP, the permission to place bids for federal contracts. The energy major, in an effort to secure the first federal contract, after being re-allowed to bid for the same has placed a bid of $41.6 million for the sale of federal oil lease in the Gulf of Mexico.

US ban on BP for new contracts lifted

US ban on BP for new contracts lifted

Post the oil rig explosion in the Gulf of Mexico in 2010, the United States had placed a ban on the British energy giant BP from applying for new contracts. The current decision to allow BP to apply for the new contracts follows a lawsuit filed by the energy major against the US government for its unjust penalty for the 2010 oil spill.

US national average gas price increased to $3.34 per gallon last week

US national average gas price increased to $3.34 per gallon last week

According to a GasBuddy. com survey of the gas prices at the US pumps last week, the cost of one gallon of gas in all 50 states is more than $3. The figures released by GasBuddy show that the national average price of regular gas is $3.34 per gallon; marking a 5-cent increase over the previous week figures.

White House may revise decades old crude export limits

White House may revise decades old crude export limits

The Senate Energy & Natural Resources Committee recently said that it was closely monitoring the implications of increasing oil production in the United States, hinting that the White House could soon revise the decades old limits on crude exports.

When contacted, Obama spokesperson Matt Lehrich didn't rule out a revision in the country's crude export limits.

France’s oil & gas firm Total to invest in Britain’s shale gas industry

France’s oil & gas firm Total to invest in Britain’s shale gas industry

French oil & gas giant Total is all set to make a huge investment in the UK's burgeoning shale gas industry, according to a recent report by the BBC.

Citing anonymous source, the BBC said Total will invest 30 million pounds (nearly US$50 million) in drilling for shale gas in Lincolnshire in central England.

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