Asian stocks enjoyed a strong rebound on Wednesday as investors cheered a brightening picture of the global economy, but Chinese shares underperformed.» Read More
OSLO, Oct 2- Norway's Statoil has dropped plans to expand its Snoehvit natural gas field in the Arctic due to insufficient reserves, raising the chance it will back the building of a pipeline that could also benefit rivals.
OSLO, Oct 2- Statoil called off the long anticipated expansion of its Snoehvit natural gas facility in Norway's Arctic Barents Sea on Tuesday, saying there was not enough gas in place for now. "The license have concluded that the current gas discoveries do not provide a sufficient basis for further capacity expansion," Statoil said in a statement. "
European gas suppliers could see a boost from Germany's decision to phase out nuclear energy, with other countries set to follow Berlin's lead, Per Lekander, head of utilities research at UBS, told CNBC Wednesday.