Energy Update
Damian Carrington reported in The Guardian that solar PV plants in Great Britain generated more electricity than coal in May.
LONDON, June 20 (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.
By 2018, Azerbaijan targets to commission the largest elevated wind farm at the water zone of the Caspian Sea, according to statements of executives of the country’s government and State Agency for Alternative and Renewable Energy. With an overall capacity of 200 MW, the project will let the country cut the demand for natural gas by at least 200,000 cubic meters per year.
ST PETERSBURG, June 20 (Reuters) - The New Development Bank
(NDB), an infrastructure-focused lender established by the BRICS
emerging economies, plans to issue debt in the local currencies
of its five member countries, the bank's president said.
June 20 (Reuters) - Oil and natgas producer Marathon Oil
Corp said it agreed to buy PayRock Energy Holdings LLC
for $888 million from venture capital firm EnCap Investments,
boosting its presence in the Oklahoma basin.
WILMINGTON, Del., June 20 (Reuters) - Dallas billionaire
Kelcy Warren will head to court on Monday to defend against
allegations his pipeline company, Energy Transfer Equity LP
, has purposely tried to scuttle a proposed $20 billion
deal for rival Williams Cos Inc.
JAKARTA, June 20 (Reuters) - Indonesia is determined to
assert its exclusive right to a corner of the South China Sea
where there has been a run of skirmishes between Indonesian navy
ships and Chinese vessels, the vice-president said on Monday.
June 20 (Reuters) - Oil and natgas producer Marathon Oil
Corp said on Monday it agreed to buy PayRock Energy
Holdings LLC for $888 million from venture capital firm EnCap
Investments.
SOFIA, June 20 (Reuters) - Bulgaria hopes to reach an
agreement with Russia's Rosatom to allow it to sell a nuclear
reactor project to a third party, after an arbitration court
ruled that Bulgaria must pay for equipment it has ordered as
part of the cancelled project.
BAKU, June 20 (Reuters) - Azerbaijan saw a 11 percent drop
year-on-year in foreign direct investment to $1.6 billion in the
first quarter of this year, the central bank said on Monday.
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