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Power & Energy Commodity News

Cairn outlines $700m spending plans

Source: Financial Times, 20th August 2013

Oil and gas group set out its plans for five ‘high-impact’ wells to be drilled by next summer on the Atlantic margins as it launches exploration drive

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China on track to spend US$500bn on oil imports by 2020

Edinburgh, 20 August 2013

China's demand for crude oil imports will grow significantly, requiring spend of US$500billion (bn) by 2020. The price China pays will far outstrip the peak cost ever incurred by the US of US$335bn, with US import spend falling to only US$160bn by 2020. This demonstrates the growth of the Chinese market and reliance on oil imports in relation to the US, whose import requirements have already and will continue to decrease due to a previous weakening in oil demand and growing domestic supply. The opposing trends in crude oil imports will affect the cost to both countries and inter-regional trade flows.

Read more: China on track to spend US$500bn on oil imports by 2020

Cameron accused of inflaming fracking row

Source: Financial Times, 19th August 2013

Caroline Flint, shadow energy secretary, criticised the prime minister for talking up UK shale gas when development is still in exploratory stages

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India hit by commodities exchange woes

Source: Financial Times, 19th August 2013

Shutdown of a commodities exchange that has left prominent domestic brokerages facing potentially heavy losses and has led to calls for a rescue package

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Goldman says oil to hit $115 in short run

Source: Financial Times, 19th August 2013

Bank, which is influential in commodities markets, joins others in raising forecasts, over sudden supply disruptions and higher demand

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David Cameron ‘stokes fracking battle’

Source: Financial Times, 19th August 2013

Caroline Flint, shadow energy secretary, criticised the prime minister for talking up UK shale gas when development still in exploratory stage

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OMV buys Statoil’s North Sea stakes

Source: Financial Times, 19th August 2013

Austrian company takes stakes in several fields off the coast of Norway in a deal that highlights its shift towards more stable western markets

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Value of US fuel exports soars

Source: Financial Times, 18th August 2013

Data show how the domestic energy boom – led by expanding oil and natural gas production and higher prices – is reshaping its economy

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Freepoint in $110m oil production deal

Source: Financial Times, 18th August 2013

Group’s move is part of a broader trend by trading houses to expand from buying and selling commodities as middlemen to sourcing them at origin

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Pemex expects $10bn investment boost

Source: Financial Times, 15th August 2013

Opened up energy sector predicted to create 2.5m jobs by 2025 and attract foreign companies even though they will not be able to book reserves

Read the full article on FT.com