Battery storage significant development in power sector transformation By Vera Eckert FRANKFURT, Jan 12 (Reuters) – Germany’s power grid industry will expand big electricity battery storage capacity more than three-fold this year to 200 megawatts (MW) from 60 MW, German advisory group Team Consult said in a study of the new business area. Battery […]
German power battery storage to grow three-fold this year Read More »
Peabody Energy entered bankruptcy in 2016 CHICAGO, Jan 12 (Reuters) – Peabody Energy Corp said on Thursday that a group of banks, including affiliates of Goldman Sachs Group Inc and JPMorgan Chase Bank, has pledged a combined $1.5 billion in loans to help the coal producer exit bankruptcy in the coming months. The cash will be
Peabody Energy secures $1.5 billion in financing to exit Chapter 11 Read More »
EIA forecasts US crude oil production increase to 9.0 million b/d in 2017 and 9.3 million b/d in 2018 The US Energy Information Administration’s January Short-Term Energy Outlook (STEO) forecasts benchmark North Sea Brent and West Texas Intermediate (WTI) crude oil prices to average $53 per barrel (b) and $52/b, respectively, in 2017, close to
Crude oil prices expected to increase slightly through 2017-2018 Read More »
Assets in WPX Energy buy include 6,500 boe/d Jan 12 (Reuters) – Oil and gas producer WPX Energy Inc said it would buy assets in the Delaware basin for $775 million, the latest company to bolster its position in the oil-rich Permian region. The assets include about 6,500 barrels of oil equivalent per day (boe/d),
WPX Energy buys assets for $775 mln in Delaware basin Read More »
New York wind project could power 1.25 million homes Jan 12 (Reuters) – New York Governor Andrew Cuomo this week proposed to develop up to 2,400 megawatts (MW) of offshore wind power by 2030 capable of powering 1.25 million homes as the state seeks to lead the nation in renewable energy production. The offshore wind proposal
New York wind proposal U.S.’s biggest offshore projects Read More »
Saudi oil exports to some US, European customers could be down by 18 per cent By Rania El Gamal and Florence Tan DUBAI/SINGAPORE, Jan 12 (Reuters) – Saudi Arabia has cut February term crude supplies to refiners in India and Southeast Asia, seeking to comply with an OPEC deal, but it has held most of
February Saudi oil exports steady to most buyers in Asia; cuts India, Malaysia Read More »
BC government $1 billion fiscal deal for Trans Mountain first of its kind in Canada The BC government issued an Environmental Assessment Certificate for the Trans Mountain Expansion pipeline Wednesday, ending almost five years of brilliant political dekeing and feinting by Premier Christy Clark, who had no legal authority to stop the project, but instead managed to stickhandle
Christy Clark lands substantial Trans Mountain deal ahead of May election Read More »
CNPC says China’s oil demand will grown to almost 12 million b/d BEIJING, Jan 12 (Reuters) – China’s crude oil demand will grow by 3.4 per cent this year to a record of almost 12 million barrels per day (b/d), the country’s top state-owned oil producer CNPC forecast on Thursday, as refiners in the world’s
China’s CNPC forecasts record oil demand, warns on product glut Read More »
Kearl issues unclear, but plant running low for past two weeks Jan 12 (Reuters) – Western Canadian Select crude for February delivery rallied some $2 a barrel over the last week as traders pointed to unspecified operational issues at Imperial Oil’s Kearl oilsands projects. It was not clear what the issue was, but four trading
Canadian crude rallies on talks over Kearl oil sands issues Read More »
Ethanol reduces GHG emissions by 43 per cent, relative to gasoline: USDA report NEW YORK, Jan 12 (Reuters) – The U.S. government on Thursday said that ethanol is better for the environment than previously expected in a report boosting the country’s biggest biofuel a week ahead of a new administration that has some in the
USDA analysis says ethanol sharply cuts greenhouse gas emissions Read More »
