Energy Update
LONDON, June 15 (Reuters) - Oil's battle to reclaim $50 a
barrel may have left it in a sticky situation, where the price
is too low to lure fresh investor bulls and too high to force
more production offline.
* Iran May crude imports 1.26 mln tonnes vs 541,510 year
earlier
* Jan-May oil imports from Iran more than double from year
before
* Total crude imports in May down 4 pct
The world’s largest emergency stockpile of crude oil is quickly falling apart.
NEW YORK, June 15 (Reuters) - Azeri state oil company
Socar's trading division is looking to expand in North America,
having opened an office in Calgary in recent months and eyeing a
second one in Houston, its chief executive told Reuters.
(Wed, 15 Jun 2016) Electricity sales, as projected in the U.S. Energy Information Administration's most recent Annual Energy Outlook (AEO2016) Reference case, increase in each sector through 2040. In 2015, 3.7 trillion kilowatthours (kWh) of electricity were sold, and total electricity sales are projected to rise 0.7% annually through the projection period. The residential sector currently purchases the most electricity, with a 38% share of total electricity sales in 2015.
ERBIL, Iraq, June 15 (Reuters) - Iraq's Kurds are ready to
strike an agreement with the central government in Baghdad on a
deal to increase oil exports, if it guarantees them a monthly
revenue of $1 billion, a spokesman for the Kurdistan Regional
Government (KRG) said.
BOGOTA, June 14 (Reuters) - Union workers at Colombia's
Cerro Matoso nickel mine ditched plans to strike on Tuesday
after reaching a deal on pay increases and benefits, the company
and union said, averting potential disruption to output from one
of the world's largest producers of ferronickel.
BRASILIA, June 14 (Reuters) - Brazil's suspended President
Dilma Rousseff said on Tuesday that the country's interim
government has suspended her use of Air Force planes and will no
longer pay her hotel bills.
TOKYO, June 15 (Reuters) - Crude futures fell in early Asian
trade on Wednesday as mounting concerns about Britain's possible
exit from the European Union and a surprise build in U.S.
inventories left investors ignoring the IEA's declaration that
the oil market is now in balance.
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