Energy Update
LONDON, May 31 (Reuters) - A record amount of renewable
power capacity was installed worldwide last year as solar and
wind costs fell, becoming more competitive with fossil fuels,
research by renewables policy organisation REN21 showed on
Tuesday.
HOUSTON/LONDON, May 31 (Reuters) - Four tankers carrying
over 2 million barrels of U.S. crude are stuck at sea and cannot
discharge at a Caribbean terminal because Venezuela's PDVSA has
not yet paid supplier BP Plc, according to two sources
and Thomson Reuters vessel tracking data.
TORONTO, May 31 (Reuters) - Canada's main stock index turned
lower on Tuesday after hitting a new nine-month high, pressured
by losses for financial stocks after one of the country's major
banks reported results that missed estimates.
ALGIERS, May 31 (Reuters) - President Abdelaziz Bouteflika
on Tuesday fired Algeria's central bank chief, who had been
under pressure from ruling party critics over his management of
fall-out from the 2014-2015 global oil price drop, two
government sources said.
NEW YORK, May 31 (Reuters) - U.S. total oil demand rose for
the second consecutive month in March, fueled in part by the
continued strength in demand for gasoline, federal data released
on Tuesday showed.
VIENNA, May 31 (Reuters) - A Nigerian oil technocrat has
emerged as frontrunner to take the top job at OPEC, with members
seeing Mohammed Barkindo as what would be a rare compromise
candidate to lead the group amid rising tensions between Saudi
Arabia and Iran.
Dominion Virginia Power said it is assessing options for its proposed offshore wind demonstration project after the U.S. Department of Energy announced it is withdrawing $40 million in funding.
BOGOTA, May 31 (Reuters) - Union workers at Colombia's Cerro
Matoso mine, one of the world's largest producers of
ferronickel, will begin an indefinite strike on June 14 in
protest of work and pay conditions, the union president said.
VIENNA, May 31 (Reuters) - UAE Oil Minister Suhail bin
Mohammed al-Mazroui said on Tuesday he was happy with the oil
market, noting that prices had been correcting higher.
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