Energy Update
FRANKFURT, June 2 (Reuters) - German utility E.ON's
Uniper unit said on Thursday it has secured a 5
billion-euro ($5.6 billion) financing line from three big banks,
a move it says shows market confidence in its future after its
planned spin-off later this year.
June 2 (Reuters) - Mining equipment maker Joy Global Inc
reported a drop in revenue for the 13th straight quarter
and lowered its forecast for 2016 as customers cut spending amid
a slump in commodity prices.
MIDLAND, Texas/HOUSTON, June 2 (Reuters) - As crude prices
plummeted last summer, Steve Pruett, chief executive of a small
west Texas oilfield developer, idled a drilling rig, opting to
pay $21,000 a day to store it rather than dig more wells and
risk bigger losses.
PARIS, June 2 (Reuters) - French nuclear power output fell
by over 2,400 megawatts (MW) on Thursday, causing a few local
blackouts, the CGT union said, after workers at utility EDF
joined a nationwide rolling strike against a government
plan to reform labour laws.
June 2 (Reuters) - Mining equipment maker Joy Global Inc
reported a 25.7 percent slump in quarterly revenue, hurt
by continued spending cuts by its customers amid a commodities
rout.
VIENNA, June 2 (Reuters) - OPEC still has a role in managing
oil markets such as responding to short-lived supply
disruptions, Saudi Energy Minister Khalid al-Falih told Argus
Media in an interview.
* Russia's May output slightly down
* Ready to discuss output freeze if united OPEC backs
it-deputy PM
* Russia launches new fields in 2016
VIENNA, June 2 (Reuters) - Saudi Arabia's Energy Minister
Khalid al-Falih said on Thursday the kingdom will not shock the
oil market and will take a "gentle" approach as it wants
long-term stability.
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