Energy Update

You are here

Home » Global Read

RPT-With big outages in oil supply, buyers tap plentiful storage

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.

UPDATE 1-Proposed Gazprom dividend would cut Russian state's income

MOSCOW, May 19 (Reuters) - Russia's state gas giant Gazprom
proposed a dividend on Thursday less than half as big
as the amount implied in a government order for state companies,
adding to strains on state finances caused by low oil prices.

UPDATE 1-Russia's Gazprom expects 2016 rebound in output

* To build 400 km of Power of Siberia pipeline this year

(Adds detail, quotes)

UPDATE 1-IMF backs Saudi economic plan for "appropriately bold" transformation

DUBAI, May 19 (Reuters) - The International Monetary Fund
backed Saudi Arabia's sweeping economic reform plan on Thursday
and said the kingdom was cutting spending at the right speed to
cope with a huge state budget deficit caused by low oil prices.

UPDATE 1-National Grid profits rise, expects lower revenue from interconnectors

* Gas distribution sales process to start end June/early
July

(Adds CEO quote, background, share movement)

Technip, FMC Technologies to merge in all-stock deal

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.

Congo's president shows would-be successor who is in charge

* Western powers threaten sanctions if no progress on
elections

RPT- Burnt by oil price crash, Europe's oil majors warm up to green energy investments

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.

With big outages in oil supply, buyers tap plentiful storage

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.

Many natural gas-fired power plants under construction are near major shale plays

(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.

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.

Photos