HUNGARY BUILDS SOUTH STREAM
Hungary says it will go ahead and build its part of Gazprom's South Stream gas pipeline that bypasses Ukraine to supply Europe, despite U.S. and EU objections to the project.
Prime Minister Viktor Orban said Tuesday in Serbia that "those who say we shouldn't build South Stream should make an alternative proposal about how we could live without energy."
Orban added that "we are going to build the South Stream."
His comments underscore divisions within the EU over the trans-European pipeline. The standoff over Ukraine has renewed calls for the 28-nation…
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US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased 9.6 million bbl from the previous week, data from the US Energy Information Administration showed.
Saudi Arabia will supply its clients with significantly less oil than they requested in April, extending deeper-than-agreed oil production cuts into a second month, a Saudi official familiar with the policy said.
Oil & Gas UK estimates exploration and production companies would have to spend about $265 billion between 2019-35 to realize industry’s expectations outlined in Vision 2035 on the UK Continental Shelf (UKCS).
U.S. FRB - Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.