Energy Update
(Mon, 20 Mar 2017) Despite increasing crude oil prices throughout most of 2016, total U.S. crude oil production in 2016 was below its 2015 level. However, monthly production began growing in the fourth quarter of the year after declining over the first three quarters.
CB&I has been awarded a contract valued at approximately $460m by NefteGazIndustriya, through project developer China National Chemical Engineering, for the Afipsky Oil Refinery Expansion Project in Krasnodar, Russia.
Sunshine Oilsands announced that the Corporation and China Petroleum Engineering & Construction Corporation (CPECC) have signed a Memorandum of Understanding (MOU) in relation to the West Ells Phase II project expansion.
American conglomerate Cargill has agreed to divest its petroleum business to Australian investment bank Macquarie Group for an undisclosed price.
Sweden's state-owned utility Vattenfall will use 1,000 lithium ion batteries supplied by BMW Group to provide energy storage at some of the power company's wind power facilities.
A coal-mine that powered German industry for almost half a century will get a new lease on life when it’s turned into a giant battery that stores excess solar and wind energy.
Rancho Santana resort and residential community on the Pacific Coast of Nicaragua is turning to solar and energy storage to alleviate the high cost of peak energy in the region.
Within the past decade or two, the solar industry has experienced a great deal of evolution and expansion. In the U.S., one of the largest shakeups was in 2010 when PV panel prices dropped. The inverter market has also been subjected to changes, especially in terms of new topologies and increased functionalities.
U.S. Secretary of the Interior Ryan Zinke and Bureau of Ocean Energy Management (BOEM) Acting Director Walter Cruickshank yesterday said that a wind energy area of 122,405 acres offshore Kitty Hawk, N.C. received the high bid of $9 million from Avangrid Renewables, the provisional winner in a competitive lease sale in federal waters.
(Fri, 17 Mar 2017) U.S. propane inventories, which had been above historical norms since mid-2014, declined by 59 million barrels from the beginning of October 2016 through early March 2017, the largest decline on record for this period, despite unseasonably mild temperatures.
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