Energy Update

RALEIGH, N.C. (AP) - A startup company is giving up plans to build boxcar-sized batteries that help power companies save energy or shift to wind and solar power. Alevo Manufacturing Inc. informed state officials Friday that it was immediately shutting down its factory inside a massive, former Philip Morris USA cigarette plant and filing for bankruptcy protection.

Reliance Industries Ltd., owned by India’s richest man Mukesh Ambani, is considering entering the energy storage business with its partner BP Plc. to expand into the country’s growing renewable energy sector, according to two people with knowledge of the plan.

The shipping industry looks set to be shaken up by the International Maritime Organization’s decision to cut global bunker sulfur limits to 0.5% in 2020. Jack Jordan elaborates.

(Tue, 22 Aug 2017) In July 2017, Mexico’s national energy ministry (SENER) opened the onshore portion of the Burgos Basin, a shale-rich basin in northeastern Mexico, for natural gas exploration and development by private companies. This is the first time non-state entities were offered access to the Burgos Basin for development since the creation of the national oil company Petróleos Mexicanos (PEMEX) in 1938.