Energy Update
PARIS, Nov 8 (Reuters) - French oil major Total
confirmed on Tuesday a preliminary deal with Iran whereby Total
would develop the phase 11 part of the South Pars gas field
along with the National Iranian Oil Company (NIOC).
BEIRUT, Nov 8 (Reuters) - France's Total and China
National Petroleum Corp (CNPC) signed a gas contract on Tuesday
with National Iranian Oil Company (NIOC) for the second phase of
the South Pars gas field, Iran's SHANA news agency said.
SINGAPORE, Nov 8 (Reuters) - From ongoing floating fuel
storage to weak Chinese oil data on Tuesday, the two-year supply
overhang that has haunted markets is not over, but the glut has
eased from last year when crude was about to fall to levels not
seen in over a decade.
PARIS, Nov 8 (Reuters) - French grid operator RTE said on
Tuesday it may have to take exceptional measures including short
power cuts in certain areas and voluntary cuts by industrial
users in order to continue providing electricity to French homes
in during winter.
COPENHAGEN, Nov 8 (Reuters) - Wind turbine maker Vestas
posted third-quarter results on Tuesday that exceeded
expectations, while lifting its forecasts for the year on the
back of a 17 percent increase in orders between July and
September.
PARIS, Nov 8 (Reuters) - French energy markets regulator CRE
proposed on Tuesday tighter rules under which alternative energy
providers buy power from nuclear power station managed by
state-controlled utility EDF.
MAPUTO, Nov 8 (Reuters) - Mozambique's finance minister has
a plan to deal with a debt crisis that threatens to derail one
of Africa's most promising frontier economies but investors are
far from convinced.
LONDON, Nov 8 (Reuters) - Global demand for OPEC's crude oil
will rise in the next three years, the group forecast,
suggesting its 2014 decision to let prices fall to curb costlier
rival supplies such as U.S. shale is delivering higher market
share.
(Tue, 08 Nov 2016) Following an outage that began on October 31, Colonial Pipeline's Line 1 resumed shipping gasoline early Sunday morning. Line 1 carries gasoline from the Gulf Coast to as far east and north as North Carolina and is a key supply source for several states in between and beyond.
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