Energy Update
(Wed, 30 May 2018) Global petroleum inventories declined through 2017 and the first quarter of 2018, marking the end of an extended period of oversupply in global petroleum markets that began before the Organization of the Petroleum Exporting Countries (OPEC) November 2016 agreement to cut production. As OPEC plans to reconvene on June 22, markets now appear more in balance, but uncertainty remains going forward.
(Wed, 30 May 2018) The potential effect autonomous vehicles may have on the future of personal mobility and freight movement has received considerable attention in recent years. This attention has focused not only on discussion of real and perceived costs of travel, shared-use mobility, travel patterns, vehicle design, and vehicle ownership, but also on how autonomous vehicles may affect energy markets.
Amazon today said it has completed another solar installation in its growing portfolio of onsite rooftop solar projects. The 1.1 MW installation on Amazon’s North Las Vegas fulfillment center in Nevada represents the company’s 17th completed rooftop solar project in the U.S. over the past 14 months.
Siemens and Northvolt AB have entered a technology partnership that will deliver solutions to digitize the value chain for NorthVolt’s proposed battery factory in Sweden.
Fluence — the energy storage joint venture of Siemens and AES — has agreed to collaborate on new utility-scale energy storage development and investment opportunities in Asia Pacific markets.
Untapped offshore wind is luring Japan’s biggest commodity houses to invest in projects in Taiwan and at home, buoyed by favorable government policies that support development of the clean power.
Under the agreement, the Australian mining and metals company will also assume the operatorship of Eagle Downs.
The remaining stake in the project will be held by Aquila Resources Pty Ltd (Aquila), a subsidiary of BaoWu.
The transaction amount includes an upfront payment of nearly $106m upon completion of the acquisition and a deferred payment of $27m due three years after completion.
South32 plans to fund the transaction from its cash reserves.
The transit string will supply gas sourced from to European consumers through the Black Sea.
Following the protocol, Gazprom and Botas have signed an agreement which details the terms and conditions of the construction work. Botas is a Turkish state-owned crude oil and natural gas pipelines and trading company.
Gazprom said that the signing of the documents will enable the parties to start executing the project.
The two companies have signed a strategic cooperation agreement (SCA) to further technology development and implementation of water, wastewater and waste programs at Rosneft refinery and petrochemical sites.
The project, which will have total expansion capacity of 4,000MW, will be jointly owned by Government of Jharkhand (GoJ) with 74% stake and Patratu Vidyut Utpadan Nigam (PVUN), a subsidiary company of NTPC, with 26% interest.
About 85% of the power generated by the power plant will be supplied to Jharkhand to benefit the state in the long run and help in the economic growth of the region.
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