Energy Update
SINGAPORE, March 8 (Reuters) - Chevron has started up its massive Gorgon LNG project in Australia and will soon be shipping more of the super-chilled fuel into an oversupplied market, eroding producer revenues but also likely hastening the advent of a liquid Asian spot market.
CAPE TOWN, March 8 (Reuters) - The first exploration for shale gas in South Africa will begin in the next financial year, the government said on Tuesday, following years of postponement.
BEIJING, March 8 (Reuters) - China is pursuing efforts to resolve the problem of a stalled dam project in Myanmar, its foreign minister said on Tuesday, adding that Beijing had confidence in the incoming government of democracy leader Aung San Suu Kyi's party.
(Tue, 08 Mar 2016) Nearly 18 gigawatts (GW) of electric generating capacity was retired in 2015, a relatively high amount compared with recent years. More than 80% of the retired capacity was conventional steam coal. The coal-fired generating units retired in 2015 tended to be older and smaller in capacity than the coal generation fleet that continues to operate.
(Tue, 08 Mar 2016) The North Sea Brent front month futures price rose $2.83 per barrel (b) from February 1 to settle at $37.07/b on March 3. The West Texas Intermediate (WTI) front month futures price rose $2.95/b and settled at $34.57 over the same period.
(Tue, 08 Mar 2016) North Sea Brent crude oil prices averaged $32/barrel (b) in February, a $1/b increase from January.
Brent crude oil prices are forecast to average $34/b in 2016 and $40/b in 2017, $3/b and $10/b lower than forecast in last month's STEO, respectively. The lower forecast prices reflect oil production that has been more resilient than expected in a low-price environment and lower expectations for forecast oil demand growth.
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.