Energy Update
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.
BRUSSELS, May 18 (Reuters) - The Diamond Producers'
Association, set up last year, to spur demand, will launch a
slogan early in June to replace "diamonds are forever", viewed
as one of the most successful campaigns of all time but in need
of updating, it said on Wednesday.
WASHINGTON, May 18 (Reuters) - Credit risks continue to
mount in the U.S. financial system, even in the energy sector
which recently saw some improvement, the head of the agency
focused on the country's financial stability said on Wednesday.
HOUSTON/BUENOS AIRES, May 18 (Reuters) - A 1-million-barrel
cargo of Nigeria's Bonga medium crude oil is expected to be
discharged in Argentina this week, the second crude import by
firms operating in the South American country this year to
secure oil supplies for their refineries, according to industry
sources and Reuters data on Wednesday.
WASHINGTON/NEW YORK, May 18 (Reuters) - U.S. regulators on
Wednesday proposed a modest increase in the amount of corn-based
ethanol and biofuels that fuel producers must mix into diesel
and gasoline in 2017, disappointing two major industries: Big
Corn and Big Oil.
HOUSTON, May 18 (Reuters) - An oil and gas regulator in the
top U.S. energy-producing state of Texas cast doubt on research
linking growing seismic activity to petroleum production on
Wednesday, following the release of a study arguing most of the
state's earthquakes are manmade.
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