Energy Update

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Shell Ventures this week co-led a $7.6 million Series-A round of funding for ice storage provider Axiom Energy, joining previous investor Telsa CTO JB Straubel.

Environmental Protection Agency Administrator Scott Pruitt recently told a group of forestry executives and students that from now on the U.S. government would consider burning wood to generate electricity, commonly known as forest or woody biomass, to be “carbon neutral.”

Hydrogen stored in Britain’s gas grid could be more effective for making use of excess renewable power than batteries.

Energy efficiency building standards officially adopted by California yesterday will require new homes in the state to have solar PV systems starting in 2020.

(Thu, 10 May 2018) EIA’s May <em>Short-Term Energy Outlook</em> (STEO) forecasts that Brent crude oil prices will average $71 per barrel (b) in 2018, $7/b higher than forecast in last month’s STEO. Correspondingly, EIA’s forecast for regular gasoline retail prices increased to an average of $2.79/gallon (g) in 2018, $0.15/g higher that in last month’s STEO.

Canadian firm Enbridge has signed deals to sell its midstream and renewable assets for $2.47bn, as part of its efforts to reduce debt.

Esso Italiana, a subsidiary of ExxonMobil has agreed to sell its Augusta refinery in Sicily, Italy and other assets to Algerian state-owned oil company Sonatrach for an undisclosed price.

Advantage Midstream has signed a long-term agreement with SandRidge Energy to deliver gas conversion services for the latter’s acreage in the North Park basin in Jackson County, Colorado.

The Equatorial Guinea government is planning to construct a natural gas megahub project in a bid to create bigger market for gas and new energy infrastructure.

As the wind industry continues its march toward becoming a mainstream source of electricity, some new entrants are poised to help it along its path.

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