Energy Update
Sasol, the South African chemicals and energy company, has increased its existing $1.5bn Revolving Credit Facility to $3.9bn and extended the maturity to five years with the inclusion of two further extension options of one year each.
(Wed, 22 Nov 2017) Heading into the Thanksgiving holiday weekend, U.S. retail regular-grade gasoline averaged $2.57 per gallon (gal), up 41 cents/gal from the same time last year. Although gasoline prices are higher than in both 2015 and 2016, the Thanksgiving 2017 gasoline price is still the third-lowest since 2008.
Viva Energy Australia has officially inaugurated its new 100 million litre crude oil tank at its Geelong Refinery in Australia.
Burisma International Energy Group has signed direct agreement with National Oilwell Varco (NOV) for equipment supply.
SNC-Lavalin has been awarded the fabrication and supply of modular gas processing equipment for Producers Midstream LP (PMLP). The Maverick Gas Plant will be located in the Delaware Basin.
Alfa Laval, a provider of heat transfer, centrifugal separation and fluid handling solutions has secured an order to supply Framo pumping systems to an oil platform located in the North Sea.
“Happy families are all alike; every unhappy family is unhappy in its own way,” Leo Tolstoy, Anna Karenina. In the solar industry, strong markets are alike in that they have incentives, subsidies and/or mandates to drive growth and adoption but also a fair amount of political and economic risk and every weak or collapsing market is alike in that it no longer has incentives, subsidies and/or mandates to drive it and its political and/or economic risk has become a reality.
China, the world’s biggest carbon emitter, is poised to install a record amount of solar-power capacity this year, prompting researchers to boost forecasts as much as 80 percent.
About 54 gigawatts will be put in place this year, Bloomberg New Energy Finance said Monday, raising a forecast of more than 30 gigawatts made in July. That amount of additional capacity would likely surpass all the solar energy generated in Japan in 2017.
(Tue, 21 Nov 2017) Working natural gas in storage in the Lower 48 states as of October 31, 2017, totaled 3,784 billion cubic feet (Bcf), as interpolated from EIAâs <em>Weekly Natural Gas Storage Report</em> data. Natural gas storage levels typically increase from April through October, although net injections sometimes occur in November.
(Tue, 21 Nov 2017) This report, the second of four Issues in Focus articles from the International Energy Outlook 2017 (IEO2017), discusses the economic developments in India and China and compares results from separate runs of EIAâs World Energy Projection System Plus (WEPS+) model to the projections in the IEO2017.
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