Energy Update
LONDON, Jan 11 (Reuters) - Oil and gas companies will
increase spending in 2017 and more than double new project
developments as they gain confidence that a two-year oil price
slump is behind them, consultancy Wood Mackenzie said.
BEIJING, Jan 11 (Reuters) - China has increased punitive
tariffs on imports of a U.S. animal feed ingredient known as
distillers' dried grains (DDGS) from levels first proposed last
year, potentially escalating a trade spat between the world's
two largest economies.
WASHINGTON, Jan 11 (Reuters) - President-elect Donald
Trump's pick for secretary of state, Rex Tillerson, faces tough
questioning at his confirmation hearing on Wednesday over his
ties to Russian President Vladimir Putin as both Democrats and
Republicans worry about Moscow's increasingly aggressive
behavior.
(Wed, 11 Jan 2017) Average wholesale electricity prices at major trading hubs across the United States during the first quarter of 2016 were significantly lower than during the same period in 2015, ranging from 24% lower in California to 64% lower in New England.
MEXICO CITY, Jan 10 (Reuters) - Mexico's oil company, Pemex,
is struggling to supply gas stations around the northern border
city of Mexicali because of a blockade at a storage site, part
of sometimes violent protests and looting over a gasoline price
hike.
LONDON, Jan 10 (Reuters) - India's gasoline consumption
continues to grow rapidly as an increasing number of individuals
purchase their first motorised vehicle, helping drive the
fastest growth in fuel demand in the world.
SINGAPORE, Jan 11 (Reuters) - Oil prices recovered slightly
on Wednesday from steep slides the previous day, but traders
said markets remained under pressure from signs that planned
OPEC output cuts were being poorly implemented and as supplies
from elsewhere rose.
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