Energy Update
(Wed, 08 Jun 2016) While evacuees from the ongoing fires in Fort McMurray have begun to return to the city, a state of emergency remains in place throughout Alberta, Canada, and the temporary shutdown of the area's oil sands production sites continues. EIA estimates that disruptions to oil production averaged about 0.8 million barrels per day (b/d) in May, with a daily peak of more than 1.1 million b/d.
CARACAS, June 7 (Reuters) - Venezuelan President Nicolas
Maduro announced on Tuesday the creation of a ministry devoted
just to mining, as the OPEC nation pushes to develop untapped
mineral resources to diversify away from the oil industry, which
provides nearly all its foreign exchange.
WASHINGTON, June 7 (Reuters) - Indian Prime Minister
Narendra Modi said on Tuesday that his country's India's planned
purchase of six nuclear reactors from Toshiba Corp's
Westinghouse Electric would mark a mark new era in nuclear and
scientific cooperation with the United States.
KUALA LUMPUR, June 7 (Reuters) - In 2004, Malaysian palm oil
producer IOI Group became a founding member of the
Roundtable on Sustainable Palm Oil (RSPO) and later an executive
board member in what seemed like a cosy arrangement.
WASHINGTON, June 7 (Reuters) - U.S. President Barack Obama
and Indian Prime Minister Narendra Modi on Tuesday welcomed the
start of preparatory work for six nuclear reactors in India, a
key step in closing the first deal stemming from a U.S.-India
civil nuclear accord struck more than a decade ago.
WASHINGTON, June 7 (Reuters) - The U.S. Senate passed
legislation on Tuesday that would revamp federal chemical safety
protections for the first time in decades, sending it to
President Barack Obama for his expected signing into law.
ANCHORAGE, Alaska, June 7 (Reuters) - The World Bank slashed
its 2016 global growth forecast on Wednesday to 2.4 percent from
the 2.9 percent estimated in January due to stubbornly low
commodity prices, sluggish demand in advanced economies, weak
trade and diminishing capital flows.
MELBOURNE, June 7 (Reuters) - BHP Billiton said on Tuesday
it has agreed to sell its coal assets in Indonesia to its
partner, Adaro Energy, following a slump in prices
for metallurgical coal.
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