Energy Update
July 8 (Reuters) - Northern California power and gas company
Pacific Gas & Electric (PG&E) said on Friday its McDonald Island
gas storage facility in San Joaquin County remained out of
service after the company detected small methane leaks from some
of its wells in June.
HAVANA, July 8 (Reuters) - President Raul Castro told Cubans
on Friday to brace for tough times because the Communist-run
country must cut spending and energy supply as it deals with a
cash crunch and reduced oil imports from ally Venezuela.
(Adds gas prices)
July 8 (Reuters) - U.S. natural gas speculators cut their
net long positions after five weeks of gains, 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 6,362 contracts to 99,942 in the week to
July 5, the U.S. Commodity Futures Trading Commission said on
UNITED NATIONS, July 8 (Reuters) - United Nations
Secretary-General Ban Ki-moon said on Friday he is deeply
alarmed by fighting in South Sudan's capital Juba between rival
troops, describing it as "yet another illustration of the
parties lack of serious commitment to the peace process."
July 8 (Reuters) - U.S. natural gas speculators cut their
net long positions after five weeks of gains, 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 6,362 contracts to 99,942 in the week to
July 5, the U.S. Commodity Futures Trading Commission said on
Friday.
Electricite de France (EDF) and the World Bank are joining with the government of Cameroon to fund the €$1.2 billion (US$1.3 billion), 420-MW Nachtigal hydropower plant.
(Adds Permian rig count in paragraph)
July 8 (Reuters) - U.S. drillers this week added oil rigs
for a fifth week in six, according to a closely followed report
Friday, prompting analysts to predict the rig count has bottomed
and production will start to edge up early next year.
Drillers added 10 oil rigs in the week to July 8, bringing
the total rig count up to 351, compared with 645 a year ago,
energy services firm Baker Hughes Inc said.
LONDON, July 7 (Reuters) - Royal Dutch Shell has
changed its redundancy terms so it can claim tax refunds that
some UK workers would otherwise have been able to claim on
redundancy payments, internal documents seen by Reuters show.
July 8 (Reuters) - Williams Cos Inc, six of whose
directors resigned last week after a failed attempt to oust CEO
Alan Armstrong, said on Friday its annual shareholder meeting
will be held in November.
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