Energy Update
SHANGHAI, July 23 (Reuters) - China has set up a coal asset
management firm as part of its effort to reduce excess capacity
in the sector, China's state-owned assets regulator said.
(Adds natural gas price information)
July 22 (Reuters) - U.S. natural gas speculators cut their
net long positions for a second week in three, betting prices
will decline in the future to encourage power generators to keep
burning record amounts of gas instead of coal.
Speculators in four major NYMEX and ICE markets reduced
their bearish bets by 11,801 contracts to a one-month low of
July 22 (Reuters) - U.S. natural gas speculators cut their
net long positions for a second week in three, betting prices
will decline in the future to encourage power generators to keep
burning record amounts of gas instead of coal.
Speculators in four major NYMEX and ICE markets reduced
their bearish bets by 11,801 contracts to 91,547 in the week to
July 19, the U.S. Commodity Futures Trading Commission said on
Friday.
RIO DE JANEIRO, July 22 (Reuters) - Electrical energy connections at Rio's Olympic Park are still not finished two weeks before the summer games, creating supply risks for sports venues and athlete accommodations, according to two people familiar with the matter.
(Adds basin details, natural gas rigs to the total count)
July 22 (Reuters) - U.S. drillers this week added oil rigs
for a fourth consecutive week, according to a closely followed
report on Friday, with the recent return to the well pad
expected to soften the decline in domestic crude production.
Drillers added 14 oil rigs in the week to July 22, bringing
the total rig count up to 371, compared with 659 a year ago,
July 22 (Reuters) - Husky Energy Inc crews on
Friday worked to clean up an oil spill into a major western
Canadian river, the company said, with efforts focused on
ensuring it does not contaminate the drinking water of
communities downstream.
MILAN, July 22 (Reuters) - Asian liquefied natural gas (LNG)
prices extended a run of gains this week as Argentinian
purchasing helped fuel the rally, against the backdrop of two
major producers shutting in exports in September.
July 22 (Reuters) - U.S. drillers this week added oil rigs
for a fourth consecutive week, according to a closely followed
report on Friday, with the recent return to the well pad
expected to soften the decline in domestic crude production.
Drillers added 14 oil rigs in the week to July 22, bringing
the total rig count up to 371, compared with 659 a year ago,
energy services firm Baker Hughes Inc said.
MEXICO CITY, July 22 (Reuters) - Mexican President Enrique
Pena Nieto said on Friday he respects both of the leading
candidates to be the next president of the United States and
will seek a "frank and open" dialogue with the eventual winner.
Eduardo Porter, in a recent piece entitled “How Renewable Energy is Blowing Climate Change Efforts Off Course,” demonstrates that one can bend so far backwards to support nuclear energy that one ends up with their head in the entirely wrong place.
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