Eon Strike Gas....
German power company E.ON has declared its discovery in the UK North Sea could comprise "significantly higher volumes" of gas than initially estimated.
The energy giant said data from a recent assessment well at the Tolmount gas discovery could make the find "1 of the biggest in this portion of the North Sea for many years".
It was unearthed within the 2nd half of 2011 and is located 50 kilometers off the United Kingdom coast to the northeast of Dimlington, East Riding of Yorkshire in block 42/28d.
E.ON E&P now holds equity interests in approximately 50 licences in britain and Norway and manages one third of them.
Premier Oil and Statoil both declared they made oil discoveries in the North Sea earlier this year.
A Stronger Pound Pushes Down Gas Prices..
A stronger pound pushed down gasoline costs during the past week after the Bank of England's choice to suspend interest rates, as per a fresh market report released today.
New governor of the Bank Mark Carney's statement on 7 August increased the British money, using the exchange rate rising from 1.152 euros for the pound each day to 1.163 euros after that day. It has since climbed higher.
In npower's weekly market update, Ben Spry, Client Portfolio Manager for npower said: "Gasoline prices fell following the pound strengthened against the euro since the Bank of England declared that interest rates would stay at 0.5% until the unemployment rate fell to 7%."
This is against a broader tendency of "subdued" trading levels, he said: "Trading activities continued to be subdued because of the summer holiday period.
Looking forward, gas will probably drive near curve power costs, said the analyst: "Much will rely in the gas system's capability to contend on small flows from Norway, as both [gas terminals] Kollsnes and Easington will be on care. This can leave LNG, medium range storage sites or imports through the IUK to fill the emptiness and make certain the system balances."
German power company E.ON has declared its discovery in the UK North Sea could comprise "significantly higher volumes" of gas than initially estimated.
The energy giant said data from a recent assessment well at the Tolmount gas discovery could make the find "1 of the biggest in this portion of the North Sea for many years".
It was unearthed within the 2nd half of 2011 and is located 50 kilometers off the United Kingdom coast to the northeast of Dimlington, East Riding of Yorkshire in block 42/28d.
E.ON E&P now holds equity interests in approximately 50 licences in britain and Norway and manages one third of them.
Premier Oil and Statoil both declared they made oil discoveries in the North Sea earlier this year.
A Stronger Pound Pushes Down Gas Prices..
A stronger pound pushed down gasoline costs during the past week after the Bank of England's choice to suspend interest rates, as per a fresh market report released today.
New governor of the Bank Mark Carney's statement on 7 August increased the British money, using the exchange rate rising from 1.152 euros for the pound each day to 1.163 euros after that day. It has since climbed higher.
In npower's weekly market update, Ben Spry, Client Portfolio Manager for npower said: "Gasoline prices fell following the pound strengthened against the euro since the Bank of England declared that interest rates would stay at 0.5% until the unemployment rate fell to 7%."
This is against a broader tendency of "subdued" trading levels, he said: "Trading activities continued to be subdued because of the summer holiday period.
Looking forward, gas will probably drive near curve power costs, said the analyst: "Much will rely in the gas system's capability to contend on small flows from Norway, as both [gas terminals] Kollsnes and Easington will be on care. This can leave LNG, medium range storage sites or imports through the IUK to fill the emptiness and make certain the system balances."