Energy Update
The UK's Rough storage facility outage is set to increase UK gas import reliance this winter. What will be the likely impact and how might the shortfall best be managed?
LONDON, July 20 (Reuters) - Britain's top shares index
climbed to its highest closing level in 11 months on Wednesday,
boosted by a rise in insurance stocks, although a slump in Anglo
American pushed down the mining sector.
LONDON, July 20 (Reuters) - The amount of primary materials
extracted from the earth will almost triple by the middle of
this century if action is not taken, as emerging economies
develop and consume more, a U.N.-backed report said on
Wednesday.
The United States, and indeed the world, would do well to reconsider the promise and the limitations of its infatuation with renewable energy. "The issue is, how do we decarbonize the electricity sector, while keeping the lights on, keeping costs low and avoiding unintended consequences that could make emissions increase?"
The Long Island Power Authority plans to approve a 90-MW wind farm off the coast of New York that would become the largest in the U.S. when completed.
July 20 (Reuters) - The U.S. government and American units
of Enbridge Inc announced a settlement on Wednesday in
which the Canadian pipeline company will pay $177 million after
two 2010 oil spills that released crude oil in Michigan and
Illinois.
TORONTO, July 20 (Reuters) - Canada's main stock index set
an 11-month high on Wednesday as oil prices turned higher and
financial and energy shares advanced, offsetting losses for gold
stocks as the precious metal fell.
(Repeats with slug for media clients; New throughout, adds
milestones, details, price reaction, background)
NEW YORK, July 20 (Reuters) - Crude oil stocks in the United
States fell for the ninth consecutive week and gasoline
stockpiles posted a surprise build last week, data from the U.S.
Energy Information Administration showed on Wednesday.
Crude inventories fell 2.3 million barrels in
CARACAS, July 20 (Reuters) - Oil services provider
Halliburton Co on Wednesday reported a $148 million loss
as a result of accepting a promissory note in exchange for
unpaid invoices linked to Venezuela operations.
Elon Musk’s plan for Tesla Motors Inc. to acquire SolarCity Corp. hinges on a symbiosis that doesn’t exist. At least not yet.
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