Energy Update
Vestas Wind Systems A/S lost about a fifth of its stock market value after the Danish company said it was squeezing less profit out of sales of equipment and services compared with a year ago because of increased competition. Before last week’s plunge, the shares had risen 15 percent this year.
(Wed, 15 Nov 2017) In its November <em>Short-Term Energy Outlook</em> (STEO), EIA forecasts the price difference between West Texas Intermediate (WTI) crude oil priced at Cushing, Oklahoma, and Brent, the global crude oil price benchmark, to remain at $6 per barrel (b) through the first quarter of 2018 before narrowing to $4/b during the second half of 2018.
Enel Green Power SpA, the renewable-energy unit of Europe’s largest utility, plans to bid in Mexico’s power auction this month after raising $1.35 billion with a deal to sell stakes in eight wind and solar projects in the country in October.
West Africa’s booming off-grid solar industry is drawing international investors eyeing expansion. Lumos Global, a Dutch off-grid developer that raised $90 million last year to start business in Nigeria, said it’s expanding in Ivory Coast this month.
Cleve Hill is set to become the UK's biggest solar farm when it is built in 2020. At a capacity of 350 MW, it will be able to produce more than five times the power as the country's current leader. And all this could happen without government help.
Look around the U.S. and you’ll find plenty of examples of smart policy that is driving the adoption of cleaner, more efficient energy resources. In particular, California, New York, and Illinois are all leveraging policy to reduce carbon pollution and transition to a 21st century electric grid.
In addition to its many other devastating human consequences, Hurricane Maria left the island of Puerto Rico with its power grid in ruins. Power was knocked out throughout the island, with an estimated 80 percent of its transmission and distribution wires incapacitated. When hospitals and other critical users could not get backup power and water supplies ran low, an extended outage became a humanitarian crisis that has yet to be resolved.
Every day our power needs fluctuate, causing grid operators to make quick decisions to balance the U.S. grid. This can happen on hot summer days when people are turning on their air conditioners or in the middle of winter when they crank up the heat. Either way, grid operators must find a way to meet rapid spikes in energy demands.
The iron ore forward curve has made history in November by recording the longest period of contango* in its brief existence.
(Tue, 14 Nov 2017) Russia exported more than 5.2 million barrels per day (b/d) of crude oil and condensate and more than 2.4 million b/d of petroleum products in 2016, mostly to countries in Europe. Exports of crude oil and petroleum products represented nearly 70% of total Russian petroleum liquids production in 2016.
Pages
GET IN TOUCH
- 1875 I Street NW, International Square,
Washington, District Of Columbia, 20006 - Phone: +1 (888) 317-3839
- Email: info@mglllc.com
About
Misha Gerhard & Lewis LLC is International Strategic Consulting Firm with an extensive presence in the most rapidly developing regions of the world.