Energy Update
WASHINGTON, July 29 (Reuters) - U.S. economic growth
unexpectedly remained tepid in the second quarter as inventories
fell for the first time in nearly five years and business
investment weakened further, offsetting robust consumer
spending.
HOUSTON, July 29 (Reuters) - Chevron Corp posted its
worst quarterly loss since 2001 on Friday and Exxon Mobil Corp
reported a 59 percent slide in profit, as the long crude
price rout and tumbling refining income inflicted
pain across the energy sector.
YENAGOA, Nigeria, July 29 (Reuters) - Nigeria is deploying
troops into strategic positions in the Niger Delta to prepare to
use force against militants if peace talks fail, defence chiefs
said on Friday.
BRASILIA, July 29 (Reuters) - Interim President Michel Temer
believes the end of the impeachment trial of suspended President
Dilma Rousseff, expected next month, will greatly boost
investment and confidence in Brazil and help restore its
creditworthiness.
July 29 (Reuters) - U.S. drillers this week added oil rigs
for a fifth consecutive week as part of the biggest monthly rig
count increase in over two years, Baker Hughes Inc said
on Friday.
BENGHAZI, Libya, July 29 (Reuters) - Libya's U.N.-backed
government signed a deal with an armed brigade controlling the
major Ras Lanuf and Es Sider oil ports to end a blockade and
restart exports from the major terminals shut down since
December 2014.
LUANDA, July 29 (Reuters) - Nine Angolan soldiers were
killed and 14 wounded in a flareup of fighting with rebels in
the country's oil-producing Cabinda enclave, the separatist
guerrilla group said on Friday.
July 29 (Reuters) - U.S. drillers this week added oil rigs
for a fifth consecutive week, Baker Hughes Inc said on
Friday, but the oilfield services provider and some analysts
cast doubts on a substantial recovery in drilling this year with
crude prices heading for their biggest monthly loss in a year.
What was once Britain’s biggest coal station is now powered mainly by wood pellets and its owner, Drax Group Plc, will learn in the next few months if can complete the conversion of another unit to run on renewable fuel.
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