Energy Update
NEW YORK, Aug 8 (Reuters) - Chevron Corp persuaded a
federal appeals court on Monday to block enforcement in the
United States of an $8.65 billion Ecuadorean pollution judgment
that it said, and which the court agreed, was obtained through
bribery and fraud.
Aug 8 (Reuters) - SM Energy Co said on Monday it
would pay more than $980 million to double its holdings in the
prolific Permian Basin in Texas, showing that some oil producers
are still willing to spend big on good assets.
Brazil's Institute of the Environment and Natural Resources, Ibama, has decided not to award an environmental license for the Sao Luiz do Tapajos hydroelectric plant, effectively ending development of the controversial 8,000 MW project.
The electric grid is in a rapid state of change. The arrival of intermittent renewable resources is creating significant new operating challenges for the utilities. Batteries and other storage devices are suggested as a means of providing local firming and backup for intermittent resources. This has led to a common focus on storing and returning energy to the local power system, be that a residence, commercial or industrial establishment.
CAIRO, Aug 8 (Reuters) - Egypt will increase electricity
prices by up to 40 percent for households as part of its plan to
repair its finances by eliminating power subsidies entirely over
the next few years, the government said on Monday.
SINGAPORE, Aug 8 (Reuters) - Swiber Offshore Construction,
part of troubled Singapore oilfield services firm Swiber
Holdings, has received an interim court order to halt
payment of bank guarantees for projects it was involved in, a
stock exchange filing showed.
The complex case of West Virginia v. EPA illustrates the uncertainty injected into the national effort of the U.S. to meet its COP21 commitments, as a result of day-to-day realities. The case is the basis for the Supreme Court’s (SCOTUS) staying the implementation of the Clean Power Plan (CPP or Plan). It is the lynchpin holding up the U.S. promise made in Paris.
SAO TOME, Aug 8 (Reuters) - Former prime minister Evaristo
Carvalho has been elected president of Sao Tome and Principe,
the election commission said on Monday, after incumbent Manuel
Pinto da Costa dropped out of the race citing voting
irregularities in the first round.
Stem Inc., a California-based provider of energy storage systems, is among 10 winners of Consolidated Edison Inc.’s maiden auction for demand-response services, a sign of growing utility demand for battery technology.
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