Energy Update
DUBAI/LONDON, March 1 (Reuters) - OPEC is very unlikely to cut output at its next meeting in June, even if prices remain extremely low, according to OPEC sources and delegates, as it will be too early to say how fast Iranian output is rising.
The US has experienced a renaissance in petrochemicals due to the abundance of ethane from shale gas.
(Tue, 01 Mar 2016) Electric generating facilities expect to add more than 26 gigawatts (GW) of utility-scale generating capacity to the power grid during 2016. Most of these additions come from three resources: solar (9.5 GW), natural gas (8.0 GW), and wind (6.8 GW), which together make up 93% of total additions. If actual additions ultimately reflect these plans, 2016 will be the first year in which utility-scale solar additions exceed additions from any other single energy source.
BRASILIA, March 1 (Reuters) - Federal prosecutors who uncovered a huge corruption scheme at oil company Petrobras are looking into whether Brazil's former president Luiz Inacio Lula da Silva received undue favors from engineering firms they are investigating.
SINGAPORE, March 1 (Reuters) - U.S. crude oil prices were steady in early Asian trading on Tuesday after lower domestic production as well as dipping output from OPEC tightened the market just as China further eased its monetary policy in a bid to boost consumption.
SNC-Lavalin is pleased to announce that it has been awarded a significant oil and gas contract in the Middle East with an approximate value of $800m \.
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