Energy Update
BEIJING/HOUSTON, Dec 13 (Reuters) - China's Guangdong
Zhenrong Energy Co will submit a plan by April to revamp a
century-old oil refinery in Curacao, as it seeks to secure a
$5.5 billion project that will give China a foothold in the
Caribbean's second-largest oil refinery.
LONDON, Dec 13 (Reuters) - British construction company
Balfour Beatty said it was on track to deliver cost
saving targets in line with a long-term turnaround plan, adding
that it was confident that margins would recover over the next
two years.
BEIJING, Dec 13 (Reuters) - Beijing's environmental watchdog
is considering a ban on the use of trucks to transport coal and
closing coal storage facilities in Tianjin, one of China's
busiest ports, a researcher with the agency said, in what would
be a drastic move to tackle smog.
Oil prices are expected to rise after the OPEC deal and there is upside potential for production and IRRs, particularly in premier US basins.
WASHINGTON, Dec 13 (Reuters) - President-elect Donald Trump
will announce Exxon-Mobil Corp's Rex Tillerson as his choice for
secretary of state on Tuesday, a senior transition official
said, confident that the oil executive can get past questions
about his ties to Russia.
(Tue, 13 Dec 2016) On November 23, the U.S. Environmental Protection Agency (EPA) issued its final rule for the 2017 Renewable Fuel Standard (RFS) program year, with higher targets than those initially proposed in May. EPA increased both the advanced biofuels and total renewable fuel targets while keeping the cellulosic biofuel and biomass-based diesel targets unchanged.
Dec 12 (Reuters) - U.S. driller Patterson-UTI Energy Inc
said on Monday it would buy its smaller counterpart
Seventy Seven Energy Inc in an all-stock deal worth
$1.76 billion including debt.
MEXICO CITY, Dec 12 (Reuters) - China and Mexico pledged on
Monday to deepen ties at a meeting between their top diplomats
following last month's U.S. presidential election victory of
Donald Trump, who has tested Washington's relationship with both
countries.
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