Energy Update
As part of New York’s 2018 State of the State proposal, Gov. Andrew Cuomo yesterday said that New York will procure at least 800 MW of offshore wind power between two solicitations to be issued in 2018 and 2019.
Many regions of the U.S. have overbuilt and retained too many power plants, which can be detrimental to their owners, consumers, clean alternatives like wind and solar power, and flexible resources like energy storage and demand response (compensating customers for being flexible with their energy use).
(Wed, 03 Jan 2018) Crude oil prices ended 2017 at the highest levels since 2013. West Texas Intermediate (WTI) crude oil prices averaged $51/b in 2017, up $7/b from the 2016 average, and ended the year at $60/b, $6/b higher than at the end of 2016. Brent prices have moved up $10/b since the end of 2016 and ended the year at $65/b, widening the Brent-WTI spread to $5/b at the end of the year, the largest difference since 2013.
American Midstream Partners (AMID) has announced the completion and commencement of deliveries on its Cayenne Pipeline joint venture with Targa Resources.
Pantheon Resources, the AIM-quoted oil and gas exploration company with a working interest in several conventional project areas in Tyler and Polk Counties, onshore East Texas, has provided operational update.
Tallgrass Energy Partners has announced two strategic acquisitions by its Tallgrass Terminals business and several significant commercial developments that continue to expand the variety of services offered by Pony Express in key crude oil producing basins it serves.
Petrochemical major Royal Dutch Shell has dropped its previously announced agreement to sell its Danish refining business Dansk Shell to Dansk Olieselskab.
Enterprise Products Partners has announced that the partnership plans to add 300 million cubic feet per day (MMcf/d) of incremental capacity at its cryogenic natural gas processing facility under construction near Orla, Texas in Reeves County.
We’ve gathered a list of some of the projects we want to fist-bump this year. We’re not suggesting they’re perfect; any large extractive project comes with an environmental cost. But these are projects that rise above the rest in their efforts to minimize that cost.
South Australia’s lithium-ion battery grabbed the headlines in 2017, first when Elon Musk announced he’d build the world’s largest battery in 100 days or it would be free, then again when he accomplished it, and yet again when the battery reacted to power surges in record time in December.
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