Energy Update
(Thu, 30 Jun 2016) The newly expanded Panama Canal will be able to accommodate 90% of the world's current liquefied natural gas (LNG) tankers with LNG-carrying capacity up to 3.9 billion cubic feet (Bcf). Prior to the expansion, only 30 of the smallest LNG tankers (6% of the current global fleet) with capacities up to 0.7 Bcf could transit the Canal. The expansion has significant implications for LNG trade, reducing travel time and transportation costs for LNG shipments from the U.S.
RIO DE JANEIRO, June 30 (Reuters) - Brazil's Petrobras said
late Wednesday that its board of directors had created a new
senior management post responsible for strategy, organization
and system management to bolster long-term planning efforts and
control debt and investment.
SINGAPORE, June 30 (Reuters) - Oil prices fell in early
trade on Thursday, with Brent futures struggling to defend $50
per barrel as fears over strike outages in Norway faded and as
Nigeria's production improved.
HOUSTON, June 29 (Reuters) - The U.S. Virgin Islands'
attorney general on Wednesday agreed to withdraw a sweeping
subpoena issued against Exxon Mobil Corp as part of a
push by a coalition of state prosecutors to try to investigate
whether the world's largest publicly traded oil company misled
the public about climate change risks.
State-owned firm Petroleum Development Oman (PDO) has secured $4bn in financing from a group of international financial institutions to fund the construction of new facilities amid plunging oil price.
CARACAS, June 29 (Reuters) - Venezuelan state oil company
PDVSA has signed financing agreements with services firms
Halliburton and Weatherford, PDVSA's president
said on Wednesday, following chronic payment difficulties for
companies working in the OPEC nation.
OTTAWA, June 29 (Reuters) - Mexican President Enrique Pena
Nieto, who has previously likened U.S. Republican presidential
candidate Donald Trump to Adolf Hitler and Benito Mussolini,
said on Wednesday he only drew the comparison as a reminder of
the devastation wreaked in the past.
OTTAWA, June 29 (Reuters) - U.S. President Barack Obama said
on Wednesday that withdrawing from international trade
agreements would not help to reduce economic inequality given
that globalization has progressed so far.
OTTAWA, June 29 (Reuters) - The United States, Canada and
Mexico will work to ensure the stability of the global financial
system after Britain's vote to leave the European Union last
week, U.S. President Barack Obama said on Wednesday at a news
conference at a North American summit in Ottawa.
OTTAWA, June 29 (Reuters) - U.S. President Barack Obama on
Wednesday urged the Venezuelan government to respect the
democratic process and the rule of law, including allowing the
release of political prisoners.
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