Energy Update
LAUNCESTON, Australia, Aug 15 (Reuters) - If you believe
that thermal coal's rally this year has been largely on the back
of rising Chinese imports, it follows that any sign of
moderation in demand in the world's biggest buyer would raise a
red flag of caution.
CARACAS, Aug 15 (Reuters) - Venezuela, which holds the
world's largest crude reserves, is on track to suffer its
steepest annual oil output drop in 14 years as it suffers the
effects of an economic crisis and years of under investment and
mismanagement, according to data seen by Reuters and interviews
with company sources and workers.
Aug 15 (Reuters) - Chesapeake Energy Corp, the
second-largest U.S. natural gas producer, said on Monday that it
had arranged a $1 billion 5-year term loan that it would use to
buy back senior notes due between 2017 and 2038.
JAKARTA, Aug 15 (Reuters) - Indonesian plantation company
Sampoerna Agro is considering how to respond to a
recent court ruling that handed down the country's largest ever
fine to a company linked to forest fires, a company official
said on Monday.
LONDON/MOSCOW, Aug 15 (Reuters) - Russia's Economy Ministry
has advised Prime Minister Dmitry Medvedev he would have to
issue an unprecedented special decree if he wants to bar
state-controlled oil major Rosneft from the
privatisation of a mid-sized energy group, according to a letter
seen by Reuters.
FRANKFURT, Aug 15 (Reuters) - European spot power rose on
Monday on expectations for higher demand after the Assumption
Day holiday in many parts of the region, tight wind supply and
some nuclear outages.
BAGHDAD, Aug 15 (Reuters) - Iraq's parliament approved on
Monday the appointment of Jabar Ali al-Luaibi, a former head of
state-run South Oil Company, as oil minister in an overhaul of
Prime Minister Haider al-Abadi's cabinet, state television said.
LONDON, Aug 15 (Reuters) - G4S, the world's largest
security group, named Tim Weller as its new chief financial
officer on Monday, poaching him from oilfield services company
Petrofac where he held the same role.
BANGKOK, Aug 15 (Reuters) - Thailand's largest energy firm,
PTT Pcl, on Monday signed contracts with six major
automakers for cooperation in developing electric cars, opening
the first in a series of electric vehicle charging stations
associated with the project.
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