Energy Update
BEIJING, May 18 (Reuters) - China's central
government-controlled firms will cut steel production capacity
by 10 percent over the 2016-2017 period, the cabinet said on its
microblog on Wednesday.
San Francisco’s Community Choice Aggregation (CCA) program for clean energy — CleanPowerSF — has arrived. First proposed in 1998, the program has been mired in conflicting agendas for almost two decades, mirroring the erratic evolution of the CCA movement as a whole over that same period of time. Now, finally, the program is online and serving 7,800 locations with a load of 40 MW. At full capacity, CleanPowerSF plans to deliver 400 MW of power to over 300,000 accounts.
LAUNCESTON, Australia, May 18 (Reuters) - China appears to
be stockpiling crude oil at a faster pace than the market had
expected, taking advantage of low prices but perhaps also
pulling forward its demand for imported crude.
PARIS, May 18 (Reuters) - Oil demand in 2016 will stay
strong, supporting prices, but the market is unlikely to
rebalance by the year end, the Chief Executive of French oil and
gas major Total, said on Wednesday.
SINGAPORE, May 18 (Reuters) - Malaysia's Petroliam Nasional
Bhd warned that lower oil prices will continue to hurt
its earnings on Wednesday after its first quarter profit fell by
60 percent.
BAKU, May 18 (Reuters) - Azerbaijan's economy shrank by 4.5
percent year-on-year in January-April, compared with growth of
5.5 percent in the same period last year, the State Statistics
Committee said on Wednesday.
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