Energy Update
(Thu, 17 Aug 2017) Gasoline production by U.S. refiners and blenders has run near record levels over the first seven months of 2017, with four-week rolling average production well above its five-year average and close to the top of its five-year range. U.S. gasoline inventories also remain relatively high despite growing domestic and foreign demand.
While last week’s Offshore Wind Executive Summit was formulated in order to illuminate the offshore wind business opportunities that offshore oil and gas supply chain companies could take advantage of, it was clear during the conference that the US offshore oil and gas companies have a lot to teach offshore wind.
Germany-based technology company Linde Group has secured a contract to supply a modular hydrogen manufacturing unit for the St1 Refinery in Gothenburg, Sweden.
SABIC has completed the acquisition of 50% stake in SADAF petrochemicals joint venture (JV) from Shell for around $820m.
Korean giant Samsung Engineering has secured two contracts worth $500m from two subsidiaries of Thailand’s state-owned oil & gas company PPT.
Chevron has announced the introduction of its Chevron brand to Mexico, with the opening of the first Chevron-branded station expected in the coming weeks.
Statoil has received consent to drill an exploration well on the Gina Krog field in the North Sea.
ScottishPower Renewables plans to use larger, “next generation” wind turbines for its East Anglia 3 offshore wind farm than on previous phases of the project.
London Mayor Sadiq Khan said he wanted to try city-wide auctions as part of an environment strategy proposed to more than double the capital’s solar energy generation capacity by 2030.
Some commentators and participants still question the extent of China’s supply-side reforms, but the effects — or the perception of the effects — are undoubtedly reverberating throughout the global steel and metals market right now.
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