Energy Update
LONDON, May 25 (Reuters) - Egyptian investment firm Qalaa
Holdings is confident its new refinery will cut the country's
dependence on crucial oil product imports, particularly as a
weaker currency and rising crude prices force the government to
reduce its energy bills.
On Tuesday during WINDPOWER 2016 in New Orleans, CEO of the American Wind Energy Industry Tom Kiernan and Vestas CEO Chris Brown said that wind power is well-positioned now but the industry has five years to get costs down enough so that unsubsidized wind power is cheaper than gas and solar.
Like other regions of the world, the African mining sector is struggling. Factors affecting the industry include price volatility, surging operational costs, and a declining commodity demand. It is not all doom and gloom. There are opportunities out there, thanks to a booming global and local renewable energy sector.
OSLO, May 25 (Reuters) - Norway's $850 billion sovereign
wealth fund, the world's biggest, voted in favour of the 2015
remuneration package of Royal Dutch Shell Chief Executive Ben
van Beurden at Tuesday's annual meeting of shareholders, the
fund said on its web site on Wednesday.
COLOGNE, May 25 (Reuters) - Donald Trump would be "highly
unlikely" to be able to renegotiate the global accord on climate
change if elected U.S. president, the U.N.'s climate chief said
on Wednesday, as doing so would require the agreement of 195
countries.
PARIS, May 25 (Reuters) - France has started using its
strategic oil reserves for the first time since 2010 to counter
union blockades of its refineries, the French oil industry
federation said on Wednesday.
LONDON, May 25 (Reuters) - Royal Dutch Shell will
cut a further 2,200 jobs, taking its target for layoffs to
12,500 by the end of the year, the Anglo-Dutch oil firm said on
Wednesday, as it cuts deeper in the face of weak oil prices.
PARIS, May 25 (Reuters) - Police broke up a fuel depot
blockade in France on Wednesday and the hardline CGT union
called a strike at a nuclear plant in an escalation of a
standoff over proposed new labour laws.
MOSCOW, May 25 (Reuters) - Russia's Gazprom Neft,
under the gaze of President Vladimir Putin, has started loading
a tanker with crude from its new Novoportovskoye field in the
Arctic, which will help Moscow maintain record-high oil
production.
Pages
GET IN TOUCH
- 1875 I Street NW, International Square,
Washington, District Of Columbia, 20006 - Phone: +1 (888) 317-3839
- Email: info@mglllc.com
About
Misha Gerhard & Lewis LLC is International Strategic Consulting Firm with an extensive presence in the most rapidly developing regions of the world.