Energy Update
LONDON, Aug 2 (Reuters) - Britain should get on with
approving the $24 billion Hinkley Point nuclear power project
otherwise the world's fifth-largest economy could face power
shortages in the future, said the man seeking to lead Britain's
opposition Labour Party.
Internal Revenue Service (IRS) Notice 2016-31, released initially in May 2016, clarifies and expands previous IRS guidance on satisfying the “beginning of construction” requirement for renewable energy facilities to qualify for production tax credits, reflecting the extensions of the PTC under the Protecting Americans from Tax Hikes Act of 2015.
With the EU looking to cut its transport emissions and high oil import dependency, we discuss whether biofuels or renewable electricity could really displace oil on a large scale.
BRASILIA, Aug 2 (Reuters) - Brazil's federal police said on
Tuesday they had arrested two people and raided properties over
alleged corruption at building firm Queiroz Galvao, widening a
sweeping investigation focused on state-run oil company Petroleo
Brasileiro.
BEIJING, Aug 2 (Reuters) - China's Sinopec Corp
said on Tuesday it would sell half of its premium natural gas
pipeline business to investors, a move spurred by Beijing's
reform push to boost efficiency and increase infrastructure
investment in cleaner fuel.
LONDON, Aug 2 (Reuters) - The UK-based trading arm of
Beijing-backed Sinopec will give up the megatanker it booked to
park crude in Asia at the onset of the drop in global prices two
years ago, sources told Reuters.
BRASILIA, Aug 2 (Reuters) - Brazil's federal police on
Tuesday arrested three people and raided properties as part of
an investigation into alleged corruption at building firm
Queiroz Galvao, a police spokesman said.
COPENHAGEN, Aug 2 (Reuters) - Maersk Drilling will cut 122
jobs in the United States due to the early termination of a
contract for deepwater rig Maersk Valiant, a spokeswoman told
Reuters.
BEIJING, Aug 2 (Reuters) - Zhuhai Zhenrong Corp, a
state-owned trader that started China's Iranian oil business,
has appointed a senior trading manager to head the company,
officials at the firm said on Tuesday.
With China now getting in on the trade case action, it’s worth keeping an eye on.
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