Energy Update
WASHINGTON/NEW YORK, May 14 (Reuters) - Major banks wary of heavy U.S. penalties will be reluctant to restore ties with Iran even if sanctions are lifted in a possible nuclear deal, bank executives and advisers say, likely denting Iran's ambition to attract foreign investment to revive its crippled economy.
(Thu, 14 May 2015) China?s robust economic growth and thirst for energy resources in the past decade has driven it to become the top global energy consumer. China has the largest oil and gas production in the Asia-Pacific region and the largest coal production in the world, but the country?s escalating energy demand, albeit at slower growth levels in the past few years, increases its reliance on imports and need to secure more energy supplies.
(Thu, 14 May 2015) EIA's most recent Short-Term Energy Outlook forecasts that the amount of electricity generation fueled by natural gas in April and May will total just 3% less than the projected amount of coal-fired generation. This convergence has occurred only once before, in April 2012, when natural gas fueled just 1.5% less generation than coal.
(Thu, 14 May 2015) China?s robust economic growth and thirst for energy resources in the past decade has driven it to become the top global energy consumer. China has the largest oil and gas production in the Asia-Pacific region and the largest coal production in the world, but the country?s escalating energy demand, albeit at slower growth levels in the past few years, increases its reliance on imports and need to secure more energy supplies.
SYDNEY/WELLINGTON, May 14 (Reuters) - Australian shares dropped on Thursday as a galloping Australian dollar and renewed worries about global growth reduced the appeal of equities.
May 13 (Reuters) - Exxon Mobil Corp said on Wednesday it has shut a gasoline-making fluid catalytic cracking unit, alkylation unit, LPG merox, one of the hydrogen plants, and a couple of coker towers for a planned maintenance at its 149,500-barrel-per-day (bpd) refinery in Torrance, California.
Honeywell subsidiary UOP has secured a contract with Dangote Oil Refining, to supply process technology, catalysts and proprietary equipment for its refinery in Nigeria.
Colombia-based integrated oil and gas company Ecopetrol is reportedly planning to resume operations at its refinery in Cartagena by the end of this year.
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