Energy Update
BEIJING, May 6 (Reuters) - China will take stronger action
against illegal coal projects as it tries to tackle a massive
capacity glut in the sector, the country's state planning agency
said in a notice posted on Friday.
* At least nine producers cut output
* June synthetic settles at $2.15/bbl above WTI
* June WCS settles at $12.00/bbl below WTI
TORONTO, May 5 (Reuters) - Canada's main stock index ended
nearly unchanged on Thursday as gains for gold stocks offset
losses for financials, while investors grappled with impact of a
massive wildfire that has shut some production in the country's
oil sands region.
HOUSTON, May 5 (Reuters) - Apache Corp's cost
savings in the first three months of 2016 exceeded its own
expectations and are likely to continue even if oilfield
services costs rise, executives of the Houston-based oil and gas
producer said on Thursday.
Wuhan Iron & Steel has probably been the most plain and transparent in telling its employees that the iron rice bowl will have to go.
May 5 (Reuters) - Canadian engineering and construction
company SNC-Lavalin Group Inc reported a
better-than-expected profit for the first quarter as cost cuts
helped margins amid lower spending by customers in its core
energy business.
RIO DE JANEIRO, May 5 (Reuters) - A Brazilian judge on
Thursday ratified the settlement Samarco and its owners, BHP
Billiton and Vale SA, signed with the
Brazilian government in March to cover damages for a deadly dam
spill last year, Vale said in a statement.
Recently, Liang Zhipeng, Deputy Director of New Energy and Renewable Energy Department, China National Energy Administration disclosed, China CSP demonstration projects list with total 1 GW capacity and FIT will be formally issued soon. The suggested FIT given by National Energy Administration shouldn't be less than RMB1.18/ kWh.
HOUSTON, May 5 (Reuters) - Wildfires in Canada. Pipeline
sabotage in Colombia. Instability in Venezuela. U.S. frackers at
a standstill. Drops in oil output are happening so fast that it
looks as if the Americas alone could resolve global oversupply.
On April 29, the U.S. Fish and Wildlife Service (USFWS) announced the Draft Environmental Impact Statement (EIS) for Eagle Take Permits (ETP) for the Chokecherry and Sierra Madre (CCSMP) Phase I wind energy project in Carbon County, Wyo.
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