Energy Update
MELBOURNE, June 21 (Reuters) - Top global miner BHP Billiton
outlined plans to boost coal output by 8 percent
over the next three years while slashing costs, and said it
would only consider premium, lowest-cost assets for any
acquisitions.
LONDON, June 21 (Reuters) - The world's private equity
funds, with a cash pile of around $1 trillion, are stepping up
their interest in the oil and gas industry, with almost a half
expecting to buy assets in the sector over the next year, a
survey showed on Tuesday.
SYDNEY, June 21 (Reuters) - Australian exports of liquefied
natural gas are likely to grow strongly over the new few years
despite subdued prices for the energy given the massive amount
of money already sunk into projects, a top central bank official
said on Tuesday.
GEORGETOWN, Del., June 20 (Reuters) - Williams Cos Inc
and Energy Transfer Equity LP sparred in court
on Monday over a tax dispute that threatens to scuttle their $20
billion merger just one week before Williams shareholders vote
on the deal to create one of the world's largest pipeline
companies.
HOUSTON, June 20 (Reuters) - A 300-ton crane at a Torrance,
California, refinery that Exxon Mobil Corp plans to sell
fell onto a portion of a gasoline unit at the plant, industry
sources said on Monday.
MELBOURNE, June 21 (Reuters) - Top global miner BHP Billiton
expects to boost its coal output by 8 percent
over the three years to June 2018, and plans to cut costs by 16
percent over the next year to boost profits in a tough market.
LONDON, June 21 (Reuters) - Hedge funds cut their net long
position in the main crude futures and options contracts by 63
million barrels, 10 percent, in the week to June 14, as the
rally in oil prices showed signs of running out of steam.
LOS ANGELES, June 20 (Reuters) - California's power grid
operators warned homes and business on Monday to conserve
electricity as rising demand for air conditioning stoked by a
record-setting heat wave across the U.S. Southwest tested the
region's generating capacity.
CHICAGO, June 20 (Reuters) - The U.S. Department of Justice
has opposed a plan by coal producer Alpha Natural Resources
to sell valuable assets to its creditors, which it
said puts significant mine cleanups at risk, according to a
court filing on Monday.
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