Energy Update
A 5-MW battery storage ‘virtual power plant’ will be established in South Australia in a bid to stabilize volatile power prices and support renewable energy.
LONDON, Aug 5 (Reuters) - Italy's IPLOM oil refinery
remained closed on Friday, awaiting a judge's decision on a plan
to monitor a connecting pipeline that spilled oil earlier this
year, a company spokeswoman said.
Rhode Island Gov. Gina Raimondo took to Twitter yesterday to announce the successful installation of the first offshore wind turbine in U.S. waters.
Petrochemicals are offering growth as energy companies struggle with lingering low crude prices, though there are some setbacks.
Renewable energy has recently become a source of tension for the Hawaiian Islands, as the Hawaiian Electric Companies (HECO) struggle to accommodate the stunning growth of distributed solar generation. Given its location and climate, Hawaii has an abundance of potential solar electricity, and like any island, it faces an inherently high cost of electricity generated from imported fuels, with effective rates ranging from 26.3 to 37.6 cents per kWh.
Canada’s Irving Oil has agreed to acquire Whitegate oil refinery in Ireland from Phillips 66, expanding its presence across the Atlantic basin.
NEW YORK, Aug 5 (Reuters) - Private equity funds are looking to sell shares in two U.S.
energy companies, people familiar with the plans said this week, deals that could end a
year-long drought for Initial Public Offerings (IPOs) in the oil and gas sector.
SINGAPORE, Aug 5 (Reuters) - Singapore's long hangover from
a near-record fuel oil trading binge in March is ending as
tonnage traded that month and held offshore moves into landed
tanks, signalling a tighter market in the world's biggest
trading hub for the shipping fuel.
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