Energy Update
LONDON, May 23 (Reuters) - Oil discoveries in 2015 fell to
their lowest since 1952 as energy companies slashed exploration
budgets in the wake of the oil price fall, creating a gap for
meeting future demand, analysts at Morgan Stanley said on
Monday.
PARIS, May 23 (Reuters) - France's hardline CGT union has
launched a 24-hour strike at the Fos-Lavera oil terminals in the
southern port city of Marseille as the union toughens its stance
against the government over a labour reform law.
TAIPEI, May 23 (Reuters) - Taiwan's top financial regulator
said on Monday it won't encourage consolidation in the island's
crowded banking sector, dashing expectations of some in the
market that the newly-elected government would push for local
mergers.
LAUNCESTON, Australia, May 23 (Reuters) - China's imports of
iron ore are likely to have maintained their recent strength in
May, as top suppliers Australia and Brazil continue to squeeze
market share from smaller rivals.
BEIJING, May 23 (Reuters) - Improving ties between the
United States and Vietnam should not put peace and stability in
Asia at risk, China's state news agency said, as U.S. President
Barack Obama began his first visit to Vietnam, which hopes
Washington will scrap its arms embargo.
(Mon, 23 May 2016) The United States remained the world's top producer of petroleum and natural gas hydrocarbons in 2015, according to U.S. Energy Information Administration estimates. U.S. petroleum and natural gas production first surpassed Russia in 2012, and the United States has been the world's top producer of natural gas since 2011 and the world's top producer of petroleum hydrocarbons since 2013.
TORONTO, May 22 (Reuters) - Authorities in Canada have
announced the reopening of eight shuttered work camps south of
the wildfire-ravaged oil town of Fort McMurray, paving the way
for energy firms to restart production.
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