Energy Update
PARIS, May 19 (Reuters) - France's Technip
announced an all-stock merger with U.S. rival FMC Technologies
to create an oil services group with combined revenue of
$20 billion.
LONDON, May 18 (Reuters) - Europe's biggest oil companies,
reeling from losing billions in the two-year oil market rout,
are intensifying their push into renewable energy as they hunt
for new sources of future revenue.
NEW YORK, May 19 (Reuters) - Oil traders from Houston to the
North Sea are tapping into plentiful storage onshore and
offshore, evincing little sign of concern yet about mammoth
supply losses from Canada to Nigeria that has knocked out about
2 million barrels a day of output.
(Thu, 19 May 2016) Natural gas-fired power generation increased 19% in 2015, because of low natural gas prices, increased gas-fired generation capacity, and coal power plant retirements. EIA's May 2016 Short-Term Energy Outlook forecasts that this year, natural gas-fired generation will exceed coal generation in the United States on an annual basis.
SYDNEY, May 19 (Reuters) - A Chinese conglomerate planning
to develop the Frieda River copper project in Papua New Guinea
has more than doubled the estimated construction cost for the
mine to $3.6 billion after boosting its potential production
capacity.
SINGAPORE, May 19 (Reuters) - Oil prices fell on Thursday,
pulled down by rising U.S. crude inventories, a stronger dollar
and surging output from Iran to Europe and Asia.
SINGAPORE, May 19 (Reuters) - Oil prices fell early on
Thursday, pulled down by rising U.S. crude inventories, a
stronger dollar and surging output from Iran to Europe and Asia.
LONDON, May 18 (Reuters) - India has embarked on a massive
road construction programme that both reflects and will
stimulate increased ownership of cars and motorcycles and drive
continued rapid growth in gasoline and diesel consumption.
May 18 (Reuters) - Halcón Resources Corp, which
produces oil in Texas and North Dakota, said on Wednesday it
plans to file for a prepackaged bankruptcy that would wipe out
$1.8 billion in debt and help it survive the drop in crude
prices.
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