Energy Update
(Wed, 25 Feb 2015) Wind plant generation performance varies throughout the year as a result of highly seasonal wind patterns. Nationally, wind plant performance tends to be highest during the spring and lowest during the mid- to late summer, while performance during the winter (November through February) is around the annual median. However, this pattern can vary considerably across regions, mostly based on local atmospheric and geographic conditions.
(Wed, 25 Feb 2015) The U.S. Energy Information Administration (EIA) has released its 2015 Underground Natural Gas Working Storage Capacity update with data for November 2014. Against a backdrop of low natural gas storage levels throughout 2014 and high levels of production, U.S. natural gas working storage capacity as of November 2014 was virtually unchanged from its November 2013 level.
European oil majors have slashed their spending for 2015 in response to the plunging oil price, with the average cut in capital expenditure by six of the region's biggest firms estimated at around 10%.
Molybdenum oxide prices firmed February 23, although trading volumes were lower than expected after the flurry of inquiries and interest seen at the end of last week.
HOUSTON, Feb 24 (Reuters) - The largest U.S. refinery strike in 35 years could spread if talks over improved safety conditions do not resume soon, United Steelworkers union (USW) International President Leo Gerard said on Tuesday.
Marathon Petroleum is planning to integrate its two refineries located in Texas, US, aimed at boosting diesel fuel output.
TORONTO, Feb 24 (Reuters) - Turquoise Hill Resources Ltd on Tuesday agreed to sell the remainder of its stake in SouthGobi Resources, in an attempt to finally sever ties with the Mongolian coal miner that was once worth over C$3 billion ($2.4 billion).
WILLISTON, N.D., Feb 24 (Reuters) - Continental Resources Inc posted a fourth-quarter profit well above Wall Street's expectations on Tuesday, as a one-time gain from the sale of crude hedges helped offset tumbling oil prices .
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