Energy Update
April 13 (Reuters) - Peabody Energy Corp, the
world's largest privately owned coal producer, filed for U.S.
bankruptcy protection on Wednesday in the wake of a sharp fall
in coal prices that left it unable to service a recent
debt-fueled expansion into Australia.
LONDON, April 12 (Reuters) - Fuel consumption is not very
sensitive to a small change in prices in the short run, but if
the price change is large enough and lasts long enough the
amount used can change significantly.
(Wed, 13 Apr 2016) The U.S. Energy Information Administration forecasts that U.S. drivers will pay an average of $2.04 per gallon (gal) this summer for regular gasoline, according to EIA's <i>Short-Term Energy and Summer Fuels Outlook</i>. The forecast price for summer 2016 is 59 cents/gal lower than the average price last summer, and it would be the lowest average summer price since 2004.
BEIJING, April 13 (Reuters) - China imported 19.69 million
tonnes of coal in March, up 15.6 percent on the year, the
country's customs authority said on Wednesday, as power plants
sought to replenish stocks ahead of the peak summer consumption
period.
April 12 (Reuters) - Oilfield services provider Schlumberger
Ltd said it would reduce its operations in Venezuela due
to payment problems, a further sign of the cash crunch facing
the OPEC nation because of weak oil markets.
CARACAS, April 12 (Reuters) - The United States is seeking
to block a deal between OPEC and non-OPEC nations to stabilize
oil markets, Venezuelan President Nicolas Maduro said on
Tuesday, accusing Washington of applying "war-like" pressure to
prevent an agreement.
PERTH, April 13 (Reuters) - The chief executive of France's
Total SA said on Wednesday that the company's priority
on getting back into Iran's energy sector was gas and
petrochemicals
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