Energy Update
There is a revolution underway. The energy industry is undergoing a radical transfer of power from the generator to the consumer. But as another famous revolutionary, Che Guevara said, “the revolution is not an apple that falls when it is ripe. You have to make it fall.”
MARSEILLE, France, May 24 (Reuters) - French police using
water cannon and tear gas broke up a picket by striking workers
who were blocking access the Fos-sur-Mer refinery in the
southern port area of Marseille, an official of the CGT union
said on Tuesday.
LONDON, May 24 (Reuters) - Poorer oil-producing countries
which took out loans to be repaid in oil when the price was
higher are having to send three times as much to respect
repayment schedules now prices have fallen.
LAUNCESTON, Australia, May 24 (Reuters) - With China's steel
and iron ore bubble popped, the market is struggling to work out
what price levels these commodities should be trading around.
Perhaps coking coal provides good guidance.
MARSEILLE, France, May 24 (Reuters) - French police on
Tuesday cleared away striking workers blockading the Fos-sur-Mer
refinery in Marseille using water cannon and tear gas, an
official of the CGT union said.
BAGHDAD, May 24 (Reuters) - Iraq's total oil output has
reached 4.7 million barrels per day (bpd) and exports are
running at a record 3.9 million bpd, the state-run Iraqi Media
Network reported, citing an oil official.
SYDNEY, May 24 (Reuters) - The strongest El Nino in nearly
20 years, which damaged crop production in Asia and caused food
shortages, has ended, the Australian Bureau of Meteorology (BOM)
said on Tuesday.
NEW YORK, May 24 (Reuters) - U.S. refiners are enjoying
their strongest diesel margins in months as surprisingly robust
overseas demand, combined with lower domestic production has
triggered an unusually large drawdown in inventories for this
time of year.
(Tue, 24 May 2016) Renewable electricity generation in Germany increased to 194 billion kilowatthours (kWh) in 2015, representing 31% of the country's gross electricity generation. The renewables electricity growth in 2015 was the largest in both percentage and absolute terms (19% and 32 billion kWh, respectively) in at least a decade.
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